Beyond BYON shares ended the last trading session 22.5% higher at $10.84. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 47% gain over the past four weeks.
Beyond is benefiting from the resurgence of the Overstock.com brand, the reimagining of Bed Bath & Beyond with a significant SKU reduction, and the acquisition of buybuy BABY. The company is also seeing improved marketing efficiency from its newly integrated Salesforce system, alongside increased average order value and better site conversion.
This online discount retailer is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of +51.3%. Revenues are expected to be $261.38 million, down 34.3% 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 Beyond, 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 BYON 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 >>>>
Beyond is a member of the Zacks Internet - Commerce industry. One other stock in the same industry, eBay EBAY, finished the last trading session 1.1% higher at $79.03. EBAY has returned 0.7% over the past month.
For eBay, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.3. This represents a change of +10.2% from what the company reported a year ago. eBay currently has a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
