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Tradeweb (TW) Surges 5.9%: Is This an Indication of Further Gains?
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Tradeweb Markets (TW - Free Report) shares ended the last trading session 5.9% higher at $74.19. 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 7.4% loss over the past four weeks.
Tradeweb witnessed a rise in share price for the third consecutive day. After plunging significantly over the past week following the fallout from the collapse of two S&P 500 banks, the investors regained some confidence in the finance sector amid the steps taken by the regulators to avert a full-blown crisis. Moreover, inflation numbers came out as expected, which further reinforced investor optimism. These developments drove the TW stock higher.
This electronic marketplaces operator is expected to post quarterly earnings of $0.53 per share in its upcoming report, which represents a year-over-year change of +10.4%. Revenues are expected to be $326.38 million, up 4.8% 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 Tradeweb, 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 TW going forward to see if this recent jump can turn into more strength down the road.
Tradeweb is part of the Zacks Financial - Investment Bank industry. Goldman Sachs (GS - Free Report) , another stock in the same industry, closed the last trading session 0.9% higher at $315.09. GS has returned -16.6% in the past month.
Goldman's consensus EPS estimate for the upcoming report has changed +3.2% over the past month to $8.75. Compared to the company's year-ago EPS, this represents a change of -18.7%. Goldman currently boasts a Zacks Rank of #3 (Hold).
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Tradeweb (TW) Surges 5.9%: Is This an Indication of Further Gains?
Tradeweb Markets (TW - Free Report) shares ended the last trading session 5.9% higher at $74.19. 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 7.4% loss over the past four weeks.
Tradeweb witnessed a rise in share price for the third consecutive day. After plunging significantly over the past week following the fallout from the collapse of two S&P 500 banks, the investors regained some confidence in the finance sector amid the steps taken by the regulators to avert a full-blown crisis. Moreover, inflation numbers came out as expected, which further reinforced investor optimism. These developments drove the TW stock higher.
This electronic marketplaces operator is expected to post quarterly earnings of $0.53 per share in its upcoming report, which represents a year-over-year change of +10.4%. Revenues are expected to be $326.38 million, up 4.8% 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 Tradeweb, 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 TW 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 >>>>
Tradeweb is part of the Zacks Financial - Investment Bank industry. Goldman Sachs (GS - Free Report) , another stock in the same industry, closed the last trading session 0.9% higher at $315.09. GS has returned -16.6% in the past month.
Goldman's consensus EPS estimate for the upcoming report has changed +3.2% over the past month to $8.75. Compared to the company's year-ago EPS, this represents a change of -18.7%. Goldman currently boasts a Zacks Rank of #3 (Hold).