BlackSky Technology Inc. (BKSY) shares soared 11.9% in the last trading session to close at $14.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 18.2% gain over the past four weeks.
The stock is benefiting from bullish momentum surrounding the company’s expansion of the satellite constellation, fueling hype over enhanced imaging capabilities, faster data delivery, and increased government contract potential.
This company is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $27.92 million, up 11.9% 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 BlackSky Technology, 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 BKSY 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 >>>>
BlackSky Technology belongs to the Zacks Technology Services industry. Another stock from the same industry, Duolingo, Inc. (DUOL), closed the last trading session 1.5% lower at $471.57. Over the past month, DUOL has returned -7.6%.
Duolingo's consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $0.55. Compared to the company's year-ago EPS, this represents a change of +7.8%. Duolingo currently boasts a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
