HashiCorp, Inc. (HCP) Moves 12.1% Higher: Will This Strength Last?
HashiCorp, Inc. HCP shares soared 12.1% in the last trading session to close at $24.02. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.6% gain over the past four weeks.
The upswing can be attributed to an expanding portfolio that is helping in gaining clientele.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +69.2%. Revenues are expected to be $143.31 million, up 14.3% 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 HashiCorp, 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 HCP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
HashiCorp, Inc. is a member of the Zacks Internet - Software industry. One other stock in the same industry, F5 Networks FFIV, finished the last trading session 0.8% higher at $172.60. FFIV has returned 12% over the past month.
For F5 , the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $3.04. This represents a change of +23.1% from what the company reported a year ago. F5 currently has a Zacks Rank of #3 (Hold).
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