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Strength Seen in Compass (COMP): Can Its 19.4% Jump Turn into More Strength?
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Compass, Inc. (COMP - Free Report) shares soared 19.4% in the last trading session to close at $6.66. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.7% loss over the past four weeks.
Compass is benefiting from strong transaction growth, record agent retention, enhanced operational efficiencies, and successful integration of Title & Escrow services, leading to an upward revision of its fourth quarter 2024 revenue forecast to $1.36-$1.39 billion surpassing its earlier forecast of $1.225-$1.325 billion and a full-year 2024 revenue forecast to $5.61-$5.64 billion up from the previous forecast of $5.47-$5.57 billion.
This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +41.2%. Revenues are expected to be $1.28 billion, up 16.7% 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 Compass, 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 COMP going forward to see if this recent jump can turn into more strength down the road.
Compass belongs to the Zacks Internet - Software industry. Another stock from the same industry, DigitalOcean Holdings, Inc. (DOCN - Free Report) , closed the last trading session 2% higher at $34.24. Over the past month, DOCN has returned -11.1%.
For DigitalOcean, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of -20.5% from what the company reported a year ago. DigitalOcean currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Compass (COMP): Can Its 19.4% Jump Turn into More Strength?
Compass, Inc. (COMP - Free Report) shares soared 19.4% in the last trading session to close at $6.66. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.7% loss over the past four weeks.
Compass is benefiting from strong transaction growth, record agent retention, enhanced operational efficiencies, and successful integration of Title & Escrow services, leading to an upward revision of its fourth quarter 2024 revenue forecast to $1.36-$1.39 billion surpassing its earlier forecast of $1.225-$1.325 billion and a full-year 2024 revenue forecast to $5.61-$5.64 billion up from the previous forecast of $5.47-$5.57 billion.
This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +41.2%. Revenues are expected to be $1.28 billion, up 16.7% 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 Compass, 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 COMP 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 >>>>
Compass belongs to the Zacks Internet - Software industry. Another stock from the same industry, DigitalOcean Holdings, Inc. (DOCN - Free Report) , closed the last trading session 2% higher at $34.24. Over the past month, DOCN has returned -11.1%.
For DigitalOcean, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of -20.5% from what the company reported a year ago. DigitalOcean currently has a Zacks Rank of #3 (Hold).