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Groupon (GRPN) Stock Jumps 6.7%: Will It Continue to Soar?
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Groupon (GRPN - Free Report) shares soared 6.7% in the last trading session to close at $10.29. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.8% loss over the past four weeks.
GRPN shares are benefiting from a rebuilt consumer platform that is delivering stronger monetization per user compared to the legacy app, with the full migration nearing completion.
This online daily deal service is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -88.9%. Revenues are expected to be $117.27 million, up 0.1% 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 Groupon, the consensus EPS estimate for the quarter has been revised 63.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GRPN going forward to see if this recent jump can turn into more strength down the road.
Groupon belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Carvana (CVNA - Free Report) , closed the last trading session 1.9% higher at $305.97. Over the past month, CVNA has returned -12.5%.
Carvana's consensus EPS estimate for the upcoming report has changed -23.2% over the past month to $1.42. Compared to the company's year-ago EPS, this represents a change of -6%. Carvana currently boasts a Zacks Rank of #3 (Hold).
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Groupon (GRPN) Stock Jumps 6.7%: Will It Continue to Soar?
Groupon (GRPN - Free Report) shares soared 6.7% in the last trading session to close at $10.29. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.8% loss over the past four weeks.
GRPN shares are benefiting from a rebuilt consumer platform that is delivering stronger monetization per user compared to the legacy app, with the full migration nearing completion.
This online daily deal service is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -88.9%. Revenues are expected to be $117.27 million, up 0.1% 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 Groupon, the consensus EPS estimate for the quarter has been revised 63.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GRPN 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 >>>>
Groupon belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Carvana (CVNA - Free Report) , closed the last trading session 1.9% higher at $305.97. Over the past month, CVNA has returned -12.5%.
Carvana's consensus EPS estimate for the upcoming report has changed -23.2% over the past month to $1.42. Compared to the company's year-ago EPS, this represents a change of -6%. Carvana currently boasts a Zacks Rank of #3 (Hold).