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Soho House & Co SHCO shares rallied 12.6% in the last trading session to close at $5.63. 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 25.9% loss over the past four weeks.

SHCO benefits from an expanding clientele.Total Members in the third quarter 2023 grew to 255,252 from 248,071 in second quarter 2023.

This operator of members-only luxury hotels and clubs under the Soho House brand is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -14.3%. Revenues are expected to be $304.63 million, up 12.7% 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 Soho House, 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 SHCO 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 >>>>

Soho House is a member of the Zacks Internet – Software industry. One other stock in the same industry, MongoDB MDB, finished the last trading session 5.4% higher at $500.90. MDB has returned 21% over the past month.

MongoDB’s consensus EPS estimate for the upcoming report has changed -3.7% over the past month to $0.46. Compared to the company’s year-ago EPS, this represents a change of -19.3%. MongoDB currently boasts a Zacks Rank of #4 (Sell).

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