Rumble Inc. RUM shares rallied 11.4% in the last trading session to close at $8.32. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 46.2% gain over the past four weeks.
Rumble is benefiting from rapid growth in Rumble Shorts, increased concurrent streamers, new product launches like Rumble Wallet and Rumble Studio, and the upcoming Northern Data acquisition, all of which are driving user engagement, platform expansion, and future revenue opportunities.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $24.89 million, up 5% 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 RUMBLE 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 RUM 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 >>>>
RUMBLE INC is a member of the Zacks Internet - Software industry. One other stock in the same industry, PagerDuty PD, finished the last trading session 1.6% lower at $7.29. PD has returned 22.1% over the past month.
PagerDuty's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.24. Compared to the company's year-ago EPS, this represents no change. PagerDuty currently boasts a Zacks Rank of #3 (Hold).
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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.
