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TransUnion (TRU) Rises 34% in 6 Months: What You Should Know
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TransUnion (TRU - Free Report) has had an impressive run over the past six months. The stock has gained 33.7%, outperforming the 16.9% rise of the industry it belongs to and the 13.4% rally of the Zacks S&P 500 composite.
What’s Driving the Stock
TransUnion’s addressable market includes the burgeoning Big Data and analytics market, which is expanding at a rapidly accelerating pace as companies realize the advantages of building an analytical enterprise where decisions are derived from data and insights.
Numerous underlying trends are supporting this market growth. These trends include the creation of massive amounts of data, advances in technology and analytics that allow data to be processed more swiftly and efficiently, and mounting demand for these business insights across industries and geographies.
To capitalize on the immense potential growth, TransUnion has leveraged its next-generation technology to strengthen its analytics capabilities and has further expanded its database.
TransUnion’s gigantic treasure trove of data is its most distinguishing asset and also perhaps the biggest barrier to entry for competitors. Acquiring or building such data involves huge costs, making it extremely difficult for a new company to build the contacts and data that TRU already has. This fortifies its ability to sustain its competitive advantage and protect its market share.
The April 2022 acquisition of Verisk Financial Services is helping TransUnion offer enhanced insights and solutions, as well as improve fraud prevention and risk management.
Zacks Rank and Other Stocks to Consider
TransUnion currently carries a Zacks Rank #2 (Buy).
Investors interested in the Zacks Business Services sector can consider the following top-ranked stocks:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched on one instance, with an average of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, which indicates a decrease of 8.2% from the year-ago figure. Earnings are pegged at $5.71 for 2023, which is 14% above the year-ago figure. VRSK currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank #2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 3.1%. The consensus estimate for fiscal 2024 revenues and earnings implies growth of 6.3% and 11.1%, respectively.
Broadridge (BR - Free Report) currently carries a Zacks Rank #2. It beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on the other instance, the average being 0.5%. The Zacks Consensus Estimate for fiscal 2024 revenues and earnings indicates a rise of 7.2% and 8.8%, respectively.
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TransUnion (TRU) Rises 34% in 6 Months: What You Should Know
TransUnion (TRU - Free Report) has had an impressive run over the past six months. The stock has gained 33.7%, outperforming the 16.9% rise of the industry it belongs to and the 13.4% rally of the Zacks S&P 500 composite.
What’s Driving the Stock
TransUnion’s addressable market includes the burgeoning Big Data and analytics market, which is expanding at a rapidly accelerating pace as companies realize the advantages of building an analytical enterprise where decisions are derived from data and insights.
TransUnion Price
TransUnion price | TransUnion Quote
Numerous underlying trends are supporting this market growth. These trends include the creation of massive amounts of data, advances in technology and analytics that allow data to be processed more swiftly and efficiently, and mounting demand for these business insights across industries and geographies.
To capitalize on the immense potential growth, TransUnion has leveraged its next-generation technology to strengthen its analytics capabilities and has further expanded its database.
TransUnion’s gigantic treasure trove of data is its most distinguishing asset and also perhaps the biggest barrier to entry for competitors. Acquiring or building such data involves huge costs, making it extremely difficult for a new company to build the contacts and data that TRU already has. This fortifies its ability to sustain its competitive advantage and protect its market share.
The April 2022 acquisition of Verisk Financial Services is helping TransUnion offer enhanced insights and solutions, as well as improve fraud prevention and risk management.
Zacks Rank and Other Stocks to Consider
TransUnion currently carries a Zacks Rank #2 (Buy).
Investors interested in the Zacks Business Services sector can consider the following top-ranked stocks:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched on one instance, with an average of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, which indicates a decrease of 8.2% from the year-ago figure. Earnings are pegged at $5.71 for 2023, which is 14% above the year-ago figure. VRSK currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank #2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 3.1%. The consensus estimate for fiscal 2024 revenues and earnings implies growth of 6.3% and 11.1%, respectively.
Broadridge (BR - Free Report) currently carries a Zacks Rank #2. It beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on the other instance, the average being 0.5%. The Zacks Consensus Estimate for fiscal 2024 revenues and earnings indicates a rise of 7.2% and 8.8%, respectively.