Amadeus IT Group SA Unsponsored ADR (AMADY) shares rallied 5% in the last trading session to close at $59.45. 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 0.2% gain over the past four weeks.
The stock recorded this price increase as the company benefits from the adoption of Nevio by Lufthansa Group, the completion of cloud migration and the Skylink buyout, bolstering AMADY’s position as an AI orchestrator.
This company is expected to post quarterly earnings of $1.01 per share in its upcoming report, which represents a year-over-year change of +20.2%. Revenues are expected to be $2 billion, up 16.7% 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 Amadeus IT Group, 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 AMADY 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 >>>>
Amadeus IT Group is a member of the Zacks Technology Services industry. One other stock in the same industry, Gorilla Technology Group Inc. (GRRR), finished the last trading session 0.5% higher at $15.17. GRRR has returned 43% over the past month.
For GORILLA TECH GP, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.11. This represents a change of -52.2% from what the company reported a year ago. GORILLA TECH GP currently has a Zacks Rank of #3 (Hold).
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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
Amadeus IT Group SA Unsponsored ADR (AMADY): Free Stock Analysis Report
Gorilla Technology Group Inc. (GRRR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).