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Virtu Financial (VIRT) Soars 10.3%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Virtu Financial (VIRT) shares soared 10.3% in the last trading session to close at $24.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.2% loss over the past four weeks.

The increased optimism surrounding Virtu Financial's forthcoming inclusion in the S&P SmallCap 600 index, effective before the opening of trading on Jun 24, likely contributed to its recent price appreciation. Its declining expenses are expected to aid margins going forward. VIRT's strong liquidity position supports its shareholder value-boosting efforts.

This high-speed trading company is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +56.8%. Revenues are expected to be $323 million, up 15.9% 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.

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For Virtu Financial, 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 VIRT 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 >>>>

Virtu Financial is part of the Zacks Financial - Miscellaneous Services industry. Triumph Financial (TFIN), another stock in the same industry, closed the last trading session 3.9% lower at $72.71. TFIN has returned 2.8% in the past month.

Triumph Financial's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.28. Compared to the company's year-ago EPS, this represents a change of -3.5%. Triumph Financial currently boasts a Zacks Rank of #5 (Strong Sell).

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Virtu Financial, Inc. (VIRT) : Free Stock Analysis Report

Triumph Financial, Inc. (TFIN) : Free Stock Analysis Report

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Zacks Investment Research