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).

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