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Strength Seen in GRINDR INC (GRND): Can Its 9.1% Jump Turn into More Strength?
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Grindr Inc. (GRND - Free Report) shares soared 9.1% in the last trading session to close at $12.92. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.1% gain over the past four weeks.
Grindr Inc. is benefiting from a 34% year-over-year revenue growth in the second quarter of 2024, driven by enhanced premium features, increased user engagement, and strong advertising performance.
This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $88.5 million, up 26% 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 GRINDR INC, 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 GRND going forward to see if this recent jump can turn into more strength down the road.
GRINDR INC is part of the Zacks Internet - Software industry. GitLab Inc. (GTLB - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $49.97. GTLB has returned -7.5% in the past month.
Gitlab's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.15. Compared to the company's year-ago EPS, this represents a change of +66.7%. Gitlab currently boasts a Zacks Rank of #2 (Buy).
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Strength Seen in GRINDR INC (GRND): Can Its 9.1% Jump Turn into More Strength?
Grindr Inc. (GRND - Free Report) shares soared 9.1% in the last trading session to close at $12.92. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.1% gain over the past four weeks.
Grindr Inc. is benefiting from a 34% year-over-year revenue growth in the second quarter of 2024, driven by enhanced premium features, increased user engagement, and strong advertising performance.
This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $88.5 million, up 26% 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 GRINDR INC, 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 GRND going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GRINDR INC is part of the Zacks Internet - Software industry. GitLab Inc. (GTLB - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $49.97. GTLB has returned -7.5% in the past month.
Gitlab's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.15. Compared to the company's year-ago EPS, this represents a change of +66.7%. Gitlab currently boasts a Zacks Rank of #2 (Buy).