The Beachbody Company, Inc. (BODI) shares rallied 11.2% in the last trading session to close at $12.22. 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 1.3% loss over the past four weeks.
The Beachbody Company’s rally is primarily driven by strength in its streamlined product offerings, marketing spend discipline and a large legacy brand footprint. The company’s cost-saving actions, combined with its ongoing focus on increasing the number of paid digital subscribers, are likely to boost its EBITDA and free cash flow.
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.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For The Beachbody Company, 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 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 belongs to the Zacks Consumer Services - Miscellaneous industry. Another stock from the same industry, Monro Muffler Brake (MNRO), closed the last trading session 6.1% higher at $17.87. Over the past month, MNRO has returned 9.9%.
Monro's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. Compared to the company's year-ago EPS, this represents a change of +55.6%. Monro currently boasts a Zacks Rank of #3 (Hold).
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The Beachbody Company, Inc. (BODI): Free Stock Analysis Report
Monro Muffler Brake, Inc. (MNRO): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).