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Hello Group Inc. Sponsored ADR (MOMO) Surges 10.1%: Is This an Indication of Further Gains?
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Hello Group Inc. Sponsored ADR (MOMO - Free Report) shares soared 10.1% in the last trading session to close at $6.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.6% gain over the past four weeks.
The company is benefitting from an increase in user interaction through live game competitions and easing of lockdown in most parts of China which is expected to drive recovery and user base expansion for Tantan in the near term.
Moreover, the growing momentum of Momo’s new experiences like Heard, a standalone audio dating application and matchmaker, a video dating experience, is expected to improve the retention ratio in the near term.
This company is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of -47.7%. Revenues are expected to be $479.97 million, down 9.4% 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 Hello Group Inc. Sponsored ADR, 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 MOMO going forward to see if this recent jump can turn into more strength down the road.
Hello Group Inc. Sponsored ADR belongs to the Zacks Internet - Software industry. Another stock from the same industry, Duck Creek , closed the last trading session 3.3% lower at $18.57. Over the past month, DCT has returned 16%.
For Duck Creek, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0. This represents a change of -100% from what the company reported a year ago. Duck Creek currently has a Zacks Rank of #3 (Hold).
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Hello Group Inc. Sponsored ADR (MOMO) Surges 10.1%: Is This an Indication of Further Gains?
Hello Group Inc. Sponsored ADR (MOMO - Free Report) shares soared 10.1% in the last trading session to close at $6.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.6% gain over the past four weeks.
The company is benefitting from an increase in user interaction through live game competitions and easing of lockdown in most parts of China which is expected to drive recovery and user base expansion for Tantan in the near term.
Moreover, the growing momentum of Momo’s new experiences like Heard, a standalone audio dating application and matchmaker, a video dating experience, is expected to improve the retention ratio in the near term.
This company is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of -47.7%. Revenues are expected to be $479.97 million, down 9.4% 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 Hello Group Inc. Sponsored ADR, 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 MOMO 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 >>>>
Hello Group Inc. Sponsored ADR belongs to the Zacks Internet - Software industry. Another stock from the same industry, Duck Creek , closed the last trading session 3.3% lower at $18.57. Over the past month, DCT has returned 16%.
For Duck Creek, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0. This represents a change of -100% from what the company reported a year ago. Duck Creek currently has a Zacks Rank of #3 (Hold).