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Strength Seen in BlackSky Technology (BKSY): Can Its 8.8% Jump Turn into More Strength?
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BlackSky Technology Inc. (BKSY - Free Report) shares soared 8.8% in the last trading session to close at $5.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.4% loss over the past four weeks.
The stock is benefiting from the rising demand for differentiated space-based intelligence solutions from new and existing government customers across the globe.
This company is expected to post quarterly loss of $0.61 per share in its upcoming report, which represents a year-over-year change of +36.5%. Revenues are expected to be $26.93 million, up 26.7% 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 BlackSky Technology, the consensus EPS estimate for the quarter has been revised 19.9% 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 BKSY going forward to see if this recent jump can turn into more strength down the road.
BlackSky Technology belongs to the Zacks Technology Services industry. Another stock from the same industry, Cricut, Inc. (CRCT - Free Report) , closed the last trading session 4.9% higher at $6.47. Over the past month, CRCT has returned 4.4%.
Cricut's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.07. Compared to the company's year-ago EPS, this represents a change of -12.5%. Cricut currently boasts a Zacks Rank of #2 (Buy).
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Strength Seen in BlackSky Technology (BKSY): Can Its 8.8% Jump Turn into More Strength?
BlackSky Technology Inc. (BKSY - Free Report) shares soared 8.8% in the last trading session to close at $5.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.4% loss over the past four weeks.
The stock is benefiting from the rising demand for differentiated space-based intelligence solutions from new and existing government customers across the globe.
This company is expected to post quarterly loss of $0.61 per share in its upcoming report, which represents a year-over-year change of +36.5%. Revenues are expected to be $26.93 million, up 26.7% 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 BlackSky Technology, the consensus EPS estimate for the quarter has been revised 19.9% 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 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, Cricut, Inc. (CRCT - Free Report) , closed the last trading session 4.9% higher at $6.47. Over the past month, CRCT has returned 4.4%.
Cricut's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.07. Compared to the company's year-ago EPS, this represents a change of -12.5%. Cricut currently boasts a Zacks Rank of #2 (Buy).