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Bowman Consulting (BWMN) Soars 5.9%: Is Further Upside Left in the Stock?
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Bowman Consulting (BWMN - Free Report) shares rallied 5.9% in the last trading session to close at $35.95. 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 20% gain over the past four weeks.
The stock is gaining momentum due to a mix of encouraging developments and growing investor confidence. Key drivers include the announcement of a $25 million innovation fund, the acquisition of e3i Engineers, and strategic contract wins with the U.S. Geological Survey and the USDA.
This professional services firm is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +600%. Revenues are expected to be $119.2 million, up 14.1% 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 Bowman Consulting, 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 BWMN going forward to see if this recent jump can turn into more strength down the road.
Bowman Consulting belongs to the Zacks Business - Services industry. Another stock from the same industry, ZipRecruiter, Inc. (ZIP - Free Report) , closed the last trading session 1.7% lower at $4.59. Over the past month, ZIP has returned -2.9%.
For ZipRecruiter, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. This represents a change of -285.7% from what the company reported a year ago. ZipRecruiter currently has a Zacks Rank of #3 (Hold).
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Bowman Consulting (BWMN) Soars 5.9%: Is Further Upside Left in the Stock?
Bowman Consulting (BWMN - Free Report) shares rallied 5.9% in the last trading session to close at $35.95. 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 20% gain over the past four weeks.
The stock is gaining momentum due to a mix of encouraging developments and growing investor confidence. Key drivers include the announcement of a $25 million innovation fund, the acquisition of e3i Engineers, and strategic contract wins with the U.S. Geological Survey and the USDA.
This professional services firm is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +600%. Revenues are expected to be $119.2 million, up 14.1% 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 Bowman Consulting, 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 BWMN 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 >>>>
Bowman Consulting belongs to the Zacks Business - Services industry. Another stock from the same industry, ZipRecruiter, Inc. (ZIP - Free Report) , closed the last trading session 1.7% lower at $4.59. Over the past month, ZIP has returned -2.9%.
For ZipRecruiter, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. This represents a change of -285.7% from what the company reported a year ago. ZipRecruiter currently has a Zacks Rank of #3 (Hold).