NeoGames S.A. (NGMS) Stock Jumps 9.9%: Will It Continue to Soar?

NeoGames S.A. NGMS shares rallied 9.9% within the final buying and selling session to shut at $14.57. This transfer might be attributable to notable quantity with the next variety of shares being traded than in a typical session. This compares to the inventory’s 18% loss over the previous 4 weeks.

Shares of NeoGames jumped after its subsidiary NeoPollard Interactive introduced an settlement with Georgia Lottery Corporation to ship NPi sport content material by way of an integration of its distant gaming server. Positive investor sentiments had been witnessed on account of its income era talents.

This firm is predicted to publish quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +233.3%. Revenues are anticipated to be $61.21 million, up 411.4% from the year-ago quarter.

While earnings and income progress expectations are essential in evaluating the potential energy in a inventory, empirical analysis exhibits a powerful correlation between developments in earnings estimate revisions and near-term inventory worth actions.

For NeoGames S.A., the consensus EPS estimate for the quarter has remained unchanged during the last 30 days. And a inventory’s worth often does not preserve transferring larger within the absence of any development in earnings estimate revisions. So, make sure that to keep watch over NGMS going ahead to see if this latest bounce can flip into extra energy down the highway.

The inventory at the moment carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

NeoGames S.A. is a part of the Zacks Gaming business. Wynn Resorts (WYNN), one other inventory in the identical business, closed the final buying and selling session 7% decrease at $59.64. WYNN has returned -0.6% prior to now month.

For Wynn, the consensus EPS estimate for the upcoming report has remained unchanged over the previous month at -$1.20. This represents a change of +3.2% from what the corporate reported a yr in the past. Wynn at the moment has a Zacks Rank of #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.