Kingsoft Cloud Holdings Limited Sponsored ADR KC shares soared 6.7% in the last trading session to close at $11.9. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.5% gain over the past four weeks.
Shares of Kingsoft Cloud are benefiting from strong momentum in its AI cloud business, driven by rising enterprise demand, deepening ecosystem partnerships and continued investment in AI computing infrastructure.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $447.8 million, up 36.6% 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 Kingsoft Cloud, the consensus EPS estimate for the quarter has been revised 4.3% 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 KC 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 >>>>
Kingsoft Cloud belongs to the Zacks Internet - Software industry. Another stock from the same industry, Cellebrite DI Ltd. CLBT, closed the last trading session 2.2% higher at $15.07. Over the past month, CLBT has returned -5.8%.
Cellebrite DI Ltd.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.12. Compared to the company's year-ago EPS, this represents no change. Cellebrite DI Ltd. currently boasts a Zacks Rank of #3 (Hold).
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Originally published on zacks.com, part of the BLOX Digital Content Exchange.
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