Weibo Corporation (WB) Surges 14.0%: Is This an Indication of Further Gains?
Weibo Corporation (WB) shares rallied 14% in the last trading session to close at $25.02. 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 19.6% gain over the past four weeks.
This company is expected to post quarterly earnings of $0.54 per share in its upcoming report, which represents a year-over-year change of -34.9%. Revenues are expected to be $449.38 million, down 27.1% 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 Weibo Corporation, the consensus EPS estimate for the quarter has been revised 5.6% 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 WB 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 >>>>
Weibo Corporation is a member of the Zacks Internet - Content industry. One other stock in the same industry, Tencent Music Entertainment Group Sponsored ADR (TME), finished the last trading session 4.8% higher at $9. TME has returned 8.1% over the past month.
Tencent Music Entertainment Group Sponsored ADR's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.14. Compared to the company's year-ago EPS, this represents a change of +75%. Tencent Music Entertainment Group Sponsored ADR currently boasts a Zacks Rank of #2 (Buy).
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