GDEV Inc. (GDEV) Soars 20.2%: Is Further Upside Left in the Stock?

GDEV Inc. (GDEV) shares rallied 20.2% in the last trading session to close at $12.40. 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 30.9% loss over the past four weeks.The company’s prospects are benefiting from the shift in its user acquisition strategy, aimed mainly at focusing on a higher margin audience. Given the ongoing market uncertainties, the margin expansion plan is likely to have boosted investors’ confidence.This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +280%. Revenues are expected to be $90.7 million, down 15.2% 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 GDEV Inc., the consensus EPS estimate for the quarter has been revised 14.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GDEV 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 >>>>GDEV Inc. is part of the Zacks Gaming industry. Monarch Casino (MCRI), another stock in the same industry, closed the last trading session 1.6% higher at $75.16. MCRI has returned -11.7% in the past month.Monarch Casino's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.04. Compared to the company's year-ago EPS, this represents a change of +11.8%. Monarch Casino currently boasts a Zacks Rank of #3 (Hold).Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 GDEV Inc. (GDEV): Free Stock Analysis Report Monarch Casino & Resort, Inc. (MCRI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks