Stock Track | Tuya Inc. Surges 7.9% in Pre-Market on Upbeat Earnings Outlook

Stock Track

2024-10-03

Shares of Tuya Inc. (NYSE: TUYA) climbed 7.91% in pre-market trading on Tuesday, October 2, 2024, as investors reacted positively to the company's improving earnings estimates and growth prospects.

According to Zacks Investment Research, Tuya's earnings estimates have seen a notable upward revision in recent weeks, driven by analyst optimism about the company's future performance. The consensus estimate for the current quarter has increased by 200%, while the full-year estimate has jumped by 100%.

The rising trend in earnings estimate revisions has boosted Tuya's Zacks Rank to #1 (Strong Buy), signaling the stock's potential for outperformance. Historically, stocks with a Zacks Rank #1 or #2 have significantly outperformed the broader market.

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Surges 7.9% in Pre-Market on Upbeat Earnings Outlook\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time smaller\">2024-10-03 02:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Shares of Tuya Inc. (NYSE: TUYA) climbed 7.91% in pre-market trading on Tuesday, October 2, 2024, as investors reacted positively to the company's improving earnings estimates and growth prospects.</p>\n<p>According to Zacks Investment Research, Tuya's earnings estimates have seen a notable upward revision in recent weeks, driven by analyst optimism about the company's future performance. 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