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Momentive (MNTV) Surges 10.1%: Is This an Indication of Further Gains?

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Momentive (MNTV - Free Report) shares soared 10.1% in the last trading session to close at $10.47. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.2% loss over the past four weeks.

Momentive is benefiting from growing paying users that totaled approximately 894,400, an increase of 6% year over year. Approximately 91% of Momentive's paying users were on annual plans at the end of first-quarter 2022.

This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $121.9 million, up 11.4% 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.

For Momentive, 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 MNTV going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Momentive is a member of the Zacks Computers - IT Services industry. One other stock in the same industry, Renalytix AI PLC Sponsored ADR (RNLX - Free Report) , finished the last trading session 2.9% higher at $4.57. RNLX has returned 24% over the past month.

For Renalytix AI PLC Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.17. This represents a change of -41.7% from what the company reported a year ago. Renalytix AI PLC Sponsored ADR currently has a Zacks Rank of #3 (Hold).

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