Advertisement
Canada markets closed

  • S&P/TSX

    22,308.93
    -66.90 (-0.30%)
     

  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     

  • DOW

    39,512.84
    +125.08 (+0.32%)
     

  • CAD/USD

    0.7317
    +0.0006 (+0.08%)
     

  • CRUDE OIL

    78.20
    -1.06 (-1.34%)
     

  • Bitcoin CAD

    83,275.31
    -2,850.43 (-3.31%)
     

  • CMC Crypto 200

    1,260.75
    -97.26 (-7.16%)
     

  • GOLD FUTURES

    2,366.90
    +26.60 (+1.14%)
     

  • RUSSELL 2000

    2,059.78
    -13.85 (-0.67%)
     

  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     

  • NASDAQ

    16,340.87
    -5.40 (-0.03%)
     

  • VOLATILITY

    12.55
    -0.14 (-1.10%)
     

  • FTSE

    8,433.76
    +52.41 (+0.63%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • CAD/EUR

    0.6789
    +0.0011 (+0.16%)
     
MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Hello Group Inc. Sponsored ADR (MOMO) Surges 5.4%: Is This an Indication of Further Gains?

Zacks Equity Research
·2 min read

Hello Group Inc. Sponsored ADR MOMO shares soared 5.4% in the last trading session to close at $9.02. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.9% gain over the past four weeks.

The upswing in share price can be attributed to Hello's expanding subscriber base.

This company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +3.2%. Revenues are expected to be $393.8 million, down 20.7% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

ADVERTISEMENT

For Hello Group Inc. Sponsored ADR, the consensus EPS estimate for the quarter has been revised 13.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MOMO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Hello Group Inc. Sponsored ADR belongs to the Zacks Internet - Software industry. Another stock from the same industry, Digital Turbine APPS, closed the last trading session 1% lower at $12.25. Over the past month, APPS has returned -1.9%.

For Digital Turbine , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of -56.4% from what the company reported a year ago. Digital Turbine currently has a Zacks Rank of #3 (Hold).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Hello Group Inc. Sponsored ADR (MOMO) : Free Stock Analysis Report

Digital Turbine, Inc. (APPS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research