JOYY YY shares ended the last trading session 6.2% higher at $35.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.9% loss over the past four weeks.

JOYY is benefiting from its extensive global user base and solid portfolio of interactive platforms such as Bigo Live, Likee, and Hago. With a focus on innovation and expansion into global commerce SaaS, JOYY is well-poised to drive future growth.

This social media company is expected to post quarterly earnings of $0.88 per share in its upcoming report, which represents a year-over-year change of -27.9%. Revenues are expected to be $559.97 million, down 1.3% 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 JOYY, 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 YY 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 >>>>

JOYY belongs to the Zacks Internet - Services industry. Another stock from the same industry, 21Vianet VNET, closed the last trading session 1.7% lower at $3.42. Over the past month, VNET has returned 4.2%.

For 21Vianet , the consensus EPS estimate for the upcoming report has changed +25% over the past month to $0.03. This represents a change of +150% from what the company reported a year ago. 21Vianet currently has a Zacks Rank of #2 (Buy).

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