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Strength Seen in Rush Street Interactive (RSI): Can Its 6.2% Jump Turn into More Strength?
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Rush Street Interactive, Inc. (RSI - Free Report) shares ended the last trading session 6.2% higher at $17.78. 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 13.8% loss over the past four weeks.
RSI stock is expected to have gained on the back of strong momentum in its online casino and betting businesses, signaling near and long-term growth prospects. Besides, its stable financial position and upbeat outlook contributed to investors’ optimistic sentiments.
This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +42.9%. Revenues are expected to be $307.81 million, up 21.1% 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 Rush Street Interactive, the consensus EPS estimate for the quarter has been revised 14.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RSI going forward to see if this recent jump can turn into more strength down the road.
Rush Street Interactive belongs to the Zacks Gaming industry. Another stock from the same industry, Bally's (BALY - Free Report) , closed the last trading session 1.3% lower at $15.03. Over the past month, BALY has returned -7.8%.
Bally's' consensus EPS estimate for the upcoming report has changed -5.6% over the past month to -$0.92. Compared to the company's year-ago EPS, this represents a change of -258.6%. Bally's currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Rush Street Interactive (RSI): Can Its 6.2% Jump Turn into More Strength?
Rush Street Interactive, Inc. (RSI - Free Report) shares ended the last trading session 6.2% higher at $17.78. 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 13.8% loss over the past four weeks.
RSI stock is expected to have gained on the back of strong momentum in its online casino and betting businesses, signaling near and long-term growth prospects. Besides, its stable financial position and upbeat outlook contributed to investors’ optimistic sentiments.
This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +42.9%. Revenues are expected to be $307.81 million, up 21.1% 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 Rush Street Interactive, the consensus EPS estimate for the quarter has been revised 14.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RSI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Rush Street Interactive belongs to the Zacks Gaming industry. Another stock from the same industry, Bally's (BALY - Free Report) , closed the last trading session 1.3% lower at $15.03. Over the past month, BALY has returned -7.8%.
Bally's' consensus EPS estimate for the upcoming report has changed -5.6% over the past month to -$0.92. Compared to the company's year-ago EPS, this represents a change of -258.6%. Bally's currently boasts a Zacks Rank of #4 (Sell).