Genius Sports Limited (GENI) Surges 5.8%: Is This an Indication of Further Gains?
Genius Sports Limited GENI shares ended the last trading session 5.8% higher at $5.67. 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 0.6% gain over the past four weeks.
GENI is benefiting from strong media business growth, driven by major U.S. sports events and increased demand for digital advertising services.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $94 million, up 8.2% 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 Genius Sports Limited, 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 GENI 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 >>>>
Genius Sports Limited is part of the Zacks Internet - Content industry. Shutterstock SSTK, another stock in the same industry, closed the last trading session 4.9% higher at $38.79. SSTK has returned -7.4% in the past month.
For Shutterstock , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.01. This represents a change of -5.6% from what the company reported a year ago. Shutterstock currently has a Zacks Rank of #3 (Hold).
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