NeuroPace (NPCE) Soars 9.1%: Is Further Upside Left in the Stock?

NeuroPace, Inc. NPCE shares soared 9.1% in the last trading session to close at $13.06. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.6% gain over the past four weeks.NeuroPace recorded a strong price rise on investors’ optimism surrounding the company’s announcement of preliminary fourth quarter and full year 2024 financial results. The company expects total revenue for fourth quarter to be between $21.0 million and $21.5 million, representing growth of 17% to 19%. Additionally, full year revenue is expected between $79.4 million and $79.9 million, representing growth of 21% to 22%. The Zacks Consensus Estimate for the fourth quarter and full year 2024 revenue suggests a growth of 19.2% and 21.2%, respectively. This company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of -8.7%. Revenues are expected to be $21.46 million, up 19.2% 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 NeuroPace, 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 NPCE 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 >>>>NeuroPace is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Glaukos GKOS, finished the last trading session 1.9% higher at $159.34. GKOS has returned 5.4% over the past month.For Glaukos, the consensus EPS estimate for the upcoming report has changed +0.4% over the past month to -$0.43. This represents a change of +31.8% from what the company reported a year ago. Glaukos currently has a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 NeuroPace, Inc. (NPCE): Free Stock Analysis Report Glaukos Corporation (GKOS): 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