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MoneyLion Inc. (ML) Soars 17.0%: Is Further Upside Left in the Stock?

MoneyLion Inc. (ML) shares ended the last trading session 17% higher at $24.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28.6% gain over the past four weeks.

MoneyLion extended its rally for the third straight day, driven by the strength of its financial technology platform, which provides a diversified suite of personalized products and content to consumers. Its consumer finance super app enables seamless pursuit of premium banking, borrowing and investing activities, and a booming digital era is likely to place its online platform well for growth in the days ahead. Embedded finance marketplace solutions as well as creative media and marketing services also form a part of its product portfolio. The stock has further received a favorable rating from InvestorsObserver on Sep 20, 2023.

This company is expected to post quarterly loss of $0.79 per share in its upcoming report, which represents a year-over-year change of +70.7%. Revenues are expected to be $114.4 million, up 28.9% 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 MoneyLion Inc., the consensus EPS estimate for the quarter has been revised 50.6% 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 ML 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 >>>>

MoneyLion Inc. is part of the Zacks Financial Transaction Services industry. Remitly Global, Inc. (RELY), another stock in the same industry, closed the last trading session 3.7% lower at $25.28. RELY has returned 5.5% in the past month.

Remitly Global, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.17. Compared to the company's year-ago EPS, this represents a change of +15%. Remitly Global, Inc. currently boasts a Zacks Rank of #3 (Hold).

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