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Beyond (BYON) Surges 33.3%: Is This an Indication of Further Gains?
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Beyond (BYON - Free Report) shares rallied 33.3% in the last trading session to close at $9.68. 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 16% gain over the past four weeks.
Beyond is benefiting from the acquisition of the global rights to the Buy Buy Baby brand, with the $5 million deal enhancing its portfolio through valuable assets, databases, and intellectual property.
This online discount retailer is expected to post quarterly loss of $0.74 per share in its upcoming report, which represents a year-over-year change of +39.3%. Revenues are expected to be $338.48 million, down 12% 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 Beyond, 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 BYON going forward to see if this recent jump can turn into more strength down the road.
Beyond is a member of the Zacks Internet - Commerce industry. One other stock in the same industry, Coupang, Inc. (CPNG - Free Report) , finished the last trading session 0.6% higher at $23.71. CPNG has returned 6.1% over the past month.
For Coupang, the consensus EPS estimate for the upcoming report has changed -7.7% over the past month to -$0.01. This represents a change of -112.5% from what the company reported a year ago. Coupang currently has a Zacks Rank of #3 (Hold).
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Beyond (BYON) Surges 33.3%: Is This an Indication of Further Gains?
Beyond (BYON - Free Report) shares rallied 33.3% in the last trading session to close at $9.68. 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 16% gain over the past four weeks.
Beyond is benefiting from the acquisition of the global rights to the Buy Buy Baby brand, with the $5 million deal enhancing its portfolio through valuable assets, databases, and intellectual property.
This online discount retailer is expected to post quarterly loss of $0.74 per share in its upcoming report, which represents a year-over-year change of +39.3%. Revenues are expected to be $338.48 million, down 12% 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 Beyond, 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 BYON 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 >>>>
Beyond is a member of the Zacks Internet - Commerce industry. One other stock in the same industry, Coupang, Inc. (CPNG - Free Report) , finished the last trading session 0.6% higher at $23.71. CPNG has returned 6.1% over the past month.
For Coupang, the consensus EPS estimate for the upcoming report has changed -7.7% over the past month to -$0.01. This represents a change of -112.5% from what the company reported a year ago. Coupang currently has a Zacks Rank of #3 (Hold).