MultiPlan (MPLN) Soars 15.5%: Is Further Upside Left in the Stock?

MultiPlan Corporation MPLN shares rallied 15.5% in the last trading session to close at $14.70. 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 76.6% gain over the past four weeks.MultiPlan scored a strong price increase, driven by investors’ optimism surrounding the recent announcement that the company will consolidate its cloud infrastructure on Oracle Cloud Infrastructure (OCI) to support its previously disclosed digital transformation. A critical part of achieving its vision, MultiPlan will leverage its expertise and data to deliver new solutions that serve a broader set of healthcare stakeholders.This company is expected to post quarterly loss of $2.33 per share in its upcoming report, which represents a year-over-year change of +2.9%. Revenues are expected to be $236.74 million, down 3% 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 MultiPlan, 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 MPLN 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 >>>>MultiPlan belongs to the Zacks Medical Services industry. Another stock from the same industry, Medpace MEDP, closed the last trading session 0.3% higher at $352.01. Over the past month, MEDP has returned 1.4%.For Medpace, the consensus EPS estimate for the upcoming report has changed +0.9% over the past month to $2.97. This represents a change of +20.7% from what the company reported a year ago. Medpace currently has a Zacks Rank of #2 (Buy).Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.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 MultiPlan Corporation (MPLN): Free Stock Analysis Report Medpace Holdings, Inc. (MEDP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks