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HashiCorp, Inc. (HCP) Soars 14.0%: Is Further Upside Left in the Stock?
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HashiCorp, Inc. (HCP - Free Report) shares rallied 14% in the last trading session to close at $25.22. 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 2.3% loss over the past four weeks.
HashiCorp extended its rally, owing to the latest upgrade in its rating from Equal Weight (Hold) to Overweight (Buy), by Morgan Stanley. The company’s price target also increased from $23 to $30.
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 +114.3%. Revenues are expected to be $149.47 million, up 10.1% 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 HashiCorp, Inc., 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 HCP going forward to see if this recent jump can turn into more strength down the road.
HashiCorp, Inc. is part of the Zacks Internet - Software industry. Phunware (PHUN - Free Report) , another stock in the same industry, closed the last trading session 7.1% lower at $0.18. PHUN has returned -40.4% in the past month.
Phunware's consensus EPS estimate for the upcoming report has changed +16.7% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of +37.5%. Phunware currently boasts a Zacks Rank of #2 (Buy).
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HashiCorp, Inc. (HCP) Soars 14.0%: Is Further Upside Left in the Stock?
HashiCorp, Inc. (HCP - Free Report) shares rallied 14% in the last trading session to close at $25.22. 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 2.3% loss over the past four weeks.
HashiCorp extended its rally, owing to the latest upgrade in its rating from Equal Weight (Hold) to Overweight (Buy), by Morgan Stanley. The company’s price target also increased from $23 to $30.
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 +114.3%. Revenues are expected to be $149.47 million, up 10.1% 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 HashiCorp, Inc., 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 HCP 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 >>>>
HashiCorp, Inc. is part of the Zacks Internet - Software industry. Phunware (PHUN - Free Report) , another stock in the same industry, closed the last trading session 7.1% lower at $0.18. PHUN has returned -40.4% in the past month.
Phunware's consensus EPS estimate for the upcoming report has changed +16.7% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of +37.5%. Phunware currently boasts a Zacks Rank of #2 (Buy).