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DoubleDown Interactive (DDI) Moves 7.2% Higher: Will This Strength Last?
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DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI - Free Report) shares ended the last trading session 7.2% higher at $14.55. 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 9.5% loss over the past four weeks.
DoubleDown's rally is buoyed by optimism regarding the company’s focus on enhancing the entertainment value of DoubleDown Casino, which is expected to attract more users. The SuprNation acquisition, which strengthens its social casino business and strategic investments also contributes positively. Furthermore, a disciplined approach to user acquisition and research and development spending supports profitability and free cash flow.
This company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of +1.9%. Revenues are expected to be $83.49 million, up 14.4% 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 DoubleDown Interactive, 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 DDI going forward to see if this recent jump can turn into more strength down the road.
DoubleDown Interactive is part of the Zacks Gaming industry. PENN Entertainment (PENN - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $19.45. PENN has returned 7.2% in the past month.
PENN Entertainment's consensus EPS estimate for the upcoming report has changed -85.3% over the past month to -$0.28. Compared to the company's year-ago EPS, this represents a change of -123.1%. PENN Entertainment currently boasts a Zacks Rank of #3 (Hold).
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DoubleDown Interactive (DDI) Moves 7.2% Higher: Will This Strength Last?
DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI - Free Report) shares ended the last trading session 7.2% higher at $14.55. 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 9.5% loss over the past four weeks.
DoubleDown's rally is buoyed by optimism regarding the company’s focus on enhancing the entertainment value of DoubleDown Casino, which is expected to attract more users. The SuprNation acquisition, which strengthens its social casino business and strategic investments also contributes positively. Furthermore, a disciplined approach to user acquisition and research and development spending supports profitability and free cash flow.
This company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of +1.9%. Revenues are expected to be $83.49 million, up 14.4% 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 DoubleDown Interactive, 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 DDI 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 >>>>
DoubleDown Interactive is part of the Zacks Gaming industry. PENN Entertainment (PENN - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $19.45. PENN has returned 7.2% in the past month.
PENN Entertainment's consensus EPS estimate for the upcoming report has changed -85.3% over the past month to -$0.28. Compared to the company's year-ago EPS, this represents a change of -123.1%. PENN Entertainment currently boasts a Zacks Rank of #3 (Hold).