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Strength Seen in DAVE INC (DAVE): Can Its 3.6% Jump Turn into More Strength?
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Dave Inc. (DAVE - Free Report) shares rallied 3.6% in the last trading session to close at $192.06. 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 5.8% loss over the past four weeks.
The rally likely reflects confidence in Dave’s growth trajectory and momentum buying from investors reacting to strong earnings history and favorable price targets.
This company is expected to post quarterly earnings of $3.19 per share in its upcoming report, which represents a year-over-year change of +56.4%. Revenues are expected to be $155.53 million, up 54.2% 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 DAVE 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 DAVE going forward to see if this recent jump can turn into more strength down the road.
DAVE INC is a member of the Zacks Technology Services industry. One other stock in the same industry, Coherent (COHR - Free Report) , finished the last trading session 6.4% higher at $195.96. COHR has returned 8% over the past month.
Coherent's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.21. Compared to the company's year-ago EPS, this represents a change of +27.4%. Coherent currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in DAVE INC (DAVE): Can Its 3.6% Jump Turn into More Strength?
Dave Inc. (DAVE - Free Report) shares rallied 3.6% in the last trading session to close at $192.06. 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 5.8% loss over the past four weeks.
The rally likely reflects confidence in Dave’s growth trajectory and momentum buying from investors reacting to strong earnings history and favorable price targets.
This company is expected to post quarterly earnings of $3.19 per share in its upcoming report, which represents a year-over-year change of +56.4%. Revenues are expected to be $155.53 million, up 54.2% 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 DAVE 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 DAVE 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 >>>>
DAVE INC is a member of the Zacks Technology Services industry. One other stock in the same industry, Coherent (COHR - Free Report) , finished the last trading session 6.4% higher at $195.96. COHR has returned 8% over the past month.
Coherent's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.21. Compared to the company's year-ago EPS, this represents a change of +27.4%. Coherent currently boasts a Zacks Rank of #3 (Hold).