Similarweb (SMWB Quick QuoteSMWB - Free Report) shares soared 8% in the last trading session to close at $7.02. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.7% loss over the past four weeks.

Similarweb is benefiting from an expanding customer base and acquisitions like Admetricks, enhancing its digital ad intelligence offerings and overall market position.

This digital intelligence company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +128.6%. Revenues are expected to be $60.23 million, up 12.2% 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 Similarweb, 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 SMWB 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 >>>>

Similarweb is a member of the Zacks Internet - Content industry. One other stock in the same industry, Tencent Music Entertainment Group Sponsored ADR (TME Quick QuoteTME - Free Report) , finished the last trading session 1.8% lower at $14.86. TME has returned 2.2% over the past month.

For Tencent Music Entertainment Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +30.8% from what the company reported a year ago. Tencent Music Entertainment Group currently has a Zacks Rank of #2 (Buy).