Apollo Global Management, Inc. (APO Quick QuoteAPO - Free Report) shares ended the last trading session 5.1% higher at $47.83. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.2% loss over the past four weeks.

Increased optimism over an accelerated recovery of the investment management industry following increase in client activities and rise in market volatility, on account of vaccine developments and stimulus checks, primarily drove the stock higher.

Price and Consensus

This company is expected to post quarterly earnings of $0.54 per share in its upcoming report, which represents a year-over-year change of +46%. Revenues are expected to be $486.39 million, up 15.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Apollo Global Management, Inc., the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on APO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>