The Beachbody Company (BODI) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revis
The Beachbody Company, Inc. BODI shares rallied 6.1% in the last trading session to close at $11.52. 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 25.1% gain over the past four weeks.
BODI is benefiting from its omnichannel shift, strong profitability turnaround and scalable nutrition expansion with lower pricing. Further, a robust innovation pipeline (P90X, 10 Minute BODi), retail rollout and favorable demand trends support growth momentum.
This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +97.6%. Revenues are expected to be $52.24 million, down 27.8% 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 The Beachbody Company, the consensus EPS estimate for the quarter has been revised 44.4% 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 BODI 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 >>>>
The Beachbody Company is a member of the Zacks Consumer Services - Miscellaneous industry. One other stock in the same industry, Cimpress CMPR, finished the last trading session 1.4% higher at $74.04. CMPR has returned 3.7% over the past month.
For Cimpress, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +151.5% from what the company reported a year ago. Cimpress currently has a Zacks Rank of #3 (Hold).
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