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Hello Group Inc. Sponsored ADR (MOMO) Moves 5.7% Higher: Will This Strength Last?
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Hello Group Inc. Sponsored ADR (MOMO - Free Report) shares ended the last trading session 5.7% higher at $6.17. 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 11.7% loss over the past four weeks.
The upswing in share price was driven by the launch of the native immersive social app inSpaze for Apple Vision Pro in the United States.
inSpaze, the brand-new app specially developed for visionOS, is now available for all Apple Vision Pro users. With technologies such as 3Ds, Reality Converter, Reality Composer Pro and more, the native spatial computing app inSpaze allows users to connect with Apple Vision Pro users globally, along with Spatial Audio and 3D interaction content.
This company is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +11.1%. Revenues are expected to be $448.2 million, down 3.8% 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 Hello Group Inc. Sponsored ADR, 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 MOMO going forward to see if this recent jump can turn into more strength down the road.
Hello Group Inc. Sponsored ADR is a member of the Zacks Internet - Software industry. One other stock in the same industry, PubMatic, Inc. (PUBM - Free Report) , finished the last trading session 3.6% higher at $15.34. PUBM has returned -3.4% over the past month.
PubMatic, Inc.'s consensus EPS estimate for the upcoming report has changed -12.5% over the past month to $0.19. Compared to the company's year-ago EPS, this represents a change of -42.4%. PubMatic, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Hello Group Inc. Sponsored ADR (MOMO) Moves 5.7% Higher: Will This Strength Last?
Hello Group Inc. Sponsored ADR (MOMO - Free Report) shares ended the last trading session 5.7% higher at $6.17. 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 11.7% loss over the past four weeks.
The upswing in share price was driven by the launch of the native immersive social app inSpaze for Apple Vision Pro in the United States.
inSpaze, the brand-new app specially developed for visionOS, is now available for all Apple Vision Pro users. With technologies such as 3Ds, Reality Converter, Reality Composer Pro and more, the native spatial computing app inSpaze allows users to connect with Apple Vision Pro users globally, along with Spatial Audio and 3D interaction content.
This company is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +11.1%. Revenues are expected to be $448.2 million, down 3.8% 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 Hello Group Inc. Sponsored ADR, 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 MOMO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Hello Group Inc. Sponsored ADR is a member of the Zacks Internet - Software industry. One other stock in the same industry, PubMatic, Inc. (PUBM - Free Report) , finished the last trading session 3.6% higher at $15.34. PUBM has returned -3.4% over the past month.
PubMatic, Inc.'s consensus EPS estimate for the upcoming report has changed -12.5% over the past month to $0.19. Compared to the company's year-ago EPS, this represents a change of -42.4%. PubMatic, Inc. currently boasts a Zacks Rank of #3 (Hold).