Strength Seen in Full Truck Alliance (YMM): Can Its 10.2% Jump Turn into More Strength?
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Full Truck Alliance Co. Ltd. Sponsored ADR (YMM) shares rallied 10.2% in the last trading session to close at $8.42. 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 1.9% gain over the past four weeks.
The stock is rallying after the People’s Bank of China (PBOC) announced that it plans to lower banks’ reserve requirements by 50 basis points (bps) and may implement further cuts in the future. Also, the PBOC reduced the seven-day reverse report rate by 20 bps to 1.5% and announced better stimulus measures.
This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +36.4%. Revenues are expected to be $388.51 million, up 25.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Full Truck Alliance, 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 YMM 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 >>>>
Full Truck Alliance belongs to the Zacks Technology Services industry. Another stock from the same industry, Jamf Holding (JAMF), closed the last trading session 6.5% lower at $17.49. Over the past month, JAMF has returned 0%.
For Jamf Holding , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +112.5% from what the company reported a year ago. Jamf Holding currently has a Zacks Rank of #3 (Hold).
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Full Truck Alliance Co. Ltd. Sponsored ADR (YMM) : Free Stock Analysis Report
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