Send me real-time posts from this site at my email

EVO Payments (EVOP) Moves 8.8% Higher: Will This Strength Last?

EVO Payments (EVOP) shares soared 8.8% in the last trading session to close at $24.25. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.1% loss over the past four weeks.

EVO Payments' stock is gaining from the rise in digital transactions amid the ongoing recovery in the electronics payments space. The jump follows a massive industry-wide panic selling, which made financial services stocks attractive again. EVOP's ability to develop advanced technology for new products aiding cross-border processing for optimizing and enriching the customer experience is working in the company’s favor.

This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of +28.6%. Revenues are expected to be $139.26 million, up 13.9% 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 EVO Payments, 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 EVOP 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 >>>>

EVO Payments is part of the Zacks Financial Transaction Services industry. Bread Financial Holdings (BFH), another stock in the same industry, closed the last trading session 2.2% lower at $39.54. BFH has returned -22.5% in the past month.

Bread Financial's consensus EPS estimate for the upcoming report has changed -3.2% over the past month to $2.37. Compared to the company's year-ago EPS, this represents a change of -60.4%. Bread Financial currently boasts a Zacks Rank of #3 (Hold).

Just Released: Zacks Top 10 Stocks for 2022

In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022?

From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.

See Stocks Now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
EVO Payments, Inc. (EVOP): Free Stock Analysis Report
Bread Financial Holdings, Inc. (BFH): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue