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Vertiv Holdings Co. (VRT) Surges 5.7%: Is This an Indication of Further Gains?
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Vertiv Holdings Co. (VRT - Free Report) shares soared 5.7% in the last trading session to close at $11.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.2% loss over the past four weeks.
The recent surge in Vertiv’s share price reflects positive sentiments amongst investors that the stock will perform well in the upcoming third-quarter 2022 earnings release right around the corner. Vertiv Holdings new thermal facility in Monterrey, Mexico will help the company minimize the effects of supply chain constraints and meet market demand for its products. This is expected to impact Vertiv’s share price growth positively in the to be reported quarter.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +5%. Revenues are expected to be $1.48 billion, up 20.2% 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 Vertiv Holdings Co., the consensus EPS estimate for the quarter has been revised 8.5% 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 VRT going forward to see if this recent jump can turn into more strength down the road.
Vertiv Holdings Co. belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, Grid Dynamics (GDYN - Free Report) , closed the last trading session 3% higher at $14.93. Over the past month, GDYN has returned -24.2%.
For Grid Dynamics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.12. This represents a change of +9.1% from what the company reported a year ago. Grid Dynamics currently has a Zacks Rank of #3 (Hold).
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Vertiv Holdings Co. (VRT) Surges 5.7%: Is This an Indication of Further Gains?
Vertiv Holdings Co. (VRT - Free Report) shares soared 5.7% in the last trading session to close at $11.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.2% loss over the past four weeks.
The recent surge in Vertiv’s share price reflects positive sentiments amongst investors that the stock will perform well in the upcoming third-quarter 2022 earnings release right around the corner. Vertiv Holdings new thermal facility in Monterrey, Mexico will help the company minimize the effects of supply chain constraints and meet market demand for its products. This is expected to impact Vertiv’s share price growth positively in the to be reported quarter.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +5%. Revenues are expected to be $1.48 billion, up 20.2% 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 Vertiv Holdings Co., the consensus EPS estimate for the quarter has been revised 8.5% 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 VRT 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 >>>>
Vertiv Holdings Co. belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, Grid Dynamics (GDYN - Free Report) , closed the last trading session 3% higher at $14.93. Over the past month, GDYN has returned -24.2%.
For Grid Dynamics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.12. This represents a change of +9.1% from what the company reported a year ago. Grid Dynamics currently has a Zacks Rank of #3 (Hold).