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BM Technologies, Inc. (BMTX) Soars 7.4%: Is Further Upside Left in the Stock?

BM Technologies, Inc. (BMTX) shares rallied 7.4% in the last trading session to close at $7.29. 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 8% gain over the past four weeks.

BM Technologies witnessed a rise in share price for the third consecutive day. Being one of the leading digital banking platforms, the company is expected to witness solid rise in demand for its services and product suites. This, thus, led to bullish investor sentiments, which drove BMTX stock higher.

This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $22.51 million, up 2.5% 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 BM Technologies, Inc., 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 BMTX 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 >>>>

BM Technologies, Inc. is part of the Zacks Banks - Northeast industry. Orange County Bancorp, Inc. (OBT), another stock in the same industry, closed the last trading session 2.4% higher at $41.93. OBT has returned 10.7% in the past month.

Orange County Bancorp, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.06. Compared to the company's year-ago EPS, this represents no change. Orange County Bancorp, Inc. currently boasts a Zacks Rank of #3 (Hold).

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