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Strength Seen in 21Vianet (VNET): Can Its 83.3% Jump Turn into More Strength?
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21Vianet (VNET - Free Report) shares rallied 83.3% in the last trading session to close at $7. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 55.9% loss over the past four weeks.
The upswing in VNET's price is primarily attributed to the Chinese government’s response in favor of stabilizing the financial markets amid the ongoing Russia-Ukraine war. The Chinese government promised to introduce policies which will support property and technology companies, while stimulating the economy.
Moreover, 21Vianet's expanding wholesale and retail Internet data center customers has been a tailwind.
This provider of carrier-neutral internet data center services is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of +89.2%. Revenues are expected to be $271.02 million, up 31.2% 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 21Vianet, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VNET going forward to see if this recent jump can turn into more strength down the road.
21Vianet is part of the Zacks Internet - Services industry. Uber Technologies (UBER - Free Report) , another stock in the same industry, closed the last trading session 9.4% higher at $32.61. UBER has returned -19.7% in the past month.
Uber's consensus EPS estimate for the upcoming report has changed +1.9% over the past month to -$0.26. Compared to the company's year-ago EPS, this represents a change of +38.1%. Uber currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in 21Vianet (VNET): Can Its 83.3% Jump Turn into More Strength?
21Vianet (VNET - Free Report) shares rallied 83.3% in the last trading session to close at $7. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 55.9% loss over the past four weeks.
The upswing in VNET's price is primarily attributed to the Chinese government’s response in favor of stabilizing the financial markets amid the ongoing Russia-Ukraine war. The Chinese government promised to introduce policies which will support property and technology companies, while stimulating the economy.
Moreover, 21Vianet's expanding wholesale and retail Internet data center customers has been a tailwind.
This provider of carrier-neutral internet data center services is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of +89.2%. Revenues are expected to be $271.02 million, up 31.2% 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 21Vianet, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VNET 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 >>>>
21Vianet is part of the Zacks Internet - Services industry. Uber Technologies (UBER - Free Report) , another stock in the same industry, closed the last trading session 9.4% higher at $32.61. UBER has returned -19.7% in the past month.
Uber's consensus EPS estimate for the upcoming report has changed +1.9% over the past month to -$0.26. Compared to the company's year-ago EPS, this represents a change of +38.1%. Uber currently boasts a Zacks Rank of #3 (Hold).