GDEV Inc. (GDEV) Surges 34.7%: Is This an Indication of Further Gains?
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GDEV Inc. (GDEV) shares ended the last trading session 34.7% higher at $33.02. 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 2.1% gain over the past four weeks.
GDEV’s stock rally is driven by optimism surrounding the company’s refined strategic vision, which emphasizes sustainable growth and operational efficiency. The company’s focus on delivering top games, coupled with the recruitment of industry talent, supports its commitment to create exceptional player experiences and solidify its market position for long-term success.
This company is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of -68.3%. Revenues are expected to be $103.85 million, down 14.4% 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 GDEV Inc., the consensus EPS estimate for the quarter has been revised 50% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GDEV going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GDEV Inc. is part of the Zacks Gaming industry. Nintendo Co. (NTDOY), another stock in the same industry, closed the last trading session 0.4% higher at $13.37. NTDOY has returned -2.1% in the past month.
For Nintendo , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.09. This represents a change of -30.8% from what the company reported a year ago. Nintendo currently has a Zacks Rank of #2 (Buy).
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