Karooooo (KARO) Stock Jumps 14.2%: Will It Continue to Soar?

Karooooo Ltd. KARO shares soared 14.2% in the last trading session to close at $63.10. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.1% gain over the past four weeks.Karo is benefiting from strong subscription revenue growth, high customer retention, and expanding adoption of products like Cartrack Tag and AI-powered video solutions.This company is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of +10.3%. Revenues are expected to be $69.58 million, up 19.4% 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 Karooooo, the consensus EPS estimate for the quarter has been revised 10.1% 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 KARO going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Karooooo is a member of the Zacks Internet - Software industry. One other stock in the same industry, AppFolio APPF, finished the last trading session 4% higher at $218.15. APPF has returned -2.1% over the past month.For AppFolio, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.28. This represents a change of +14.3% from what the company reported a year ago. AppFolio currently has a Zacks Rank of #4 (Sell).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Karooooo Ltd. (KARO): Free Stock Analysis Report AppFolio, Inc. (APPF): 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