TipRanks has compiled a list of Friday’s biggest pre-market stock movements.
Mixed market sentiment driven by earnings releases, along with some other variables has dominated today’s stock market.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as detailed below.
5 Biggest Movers
Farfetch Limited (FTCH), the provider of a technology platform for the luxury fashion industry, was the biggest gainer in the pre-market session, jumping 29.6% at the time of writing. The company reported a lower-than-expected fourth-quarter 2021 loss though revenue missed expectations. Additionally, Gross Merchandise Value (GMV) of $1.3 billion surged 22%. Farfetch also provided strong guidance for 2022 and expects Digital Platform GMV growth of 28% to 32% year-over-year, Brand Platform GMV growth of 20% to 25% year-over-year, and adjusted EBITDA margins of 1% to 2%.
Another gainer, Open Lending Corporation (LPRO) surged almost 18% in the pre-market trading session at the time of writing. The positive sentiment followed upbeat fourth-quarter 2021 results and a strong outlook. For 2022, the provider of lending enablement and risk analytics solutions to financial institutions expects total revenue in the range of $210 million to $240 million.
Etsy, Inc. (ETSY), rose 17.4% in pre-market trading at last watch following better-than-expected fourth-quarter 2021 results and strong guidance for the first quarter of 2022. For Q1 2022, the online marketplace for buyers and sellers expects revenue in the range of $565-$590 million, while gross merchandise sales (GMS) are projected to range between $3.2 billion and $3.4 billion.
Block, Inc. (SQ) increased 15.3% at the time of writing in the pre-market session. Better-than-expected fourth-quarter 2021 results and a positive outlook for 2022 raised investor optimism. The completion of the purchase of buy-now, pay-later company AfterPay is expected to be a strategic fit for the company going forward, aiding gross profit.
Cloud security company Zscaler, Inc. (ZS) rounded off the list. It lost 13% in the pre-market trading session at last watch due to disappointing Fiscal Q3 2022 earnings guidance, despite upbeat Fiscal Q2 2022 results. For Q3 2022, the company expects EPS of $0.10-$0.11 versus the consensus estimate of $0.11. Meanwhile, revenue of $270-$272 million is projected, above analyst expectations of $256.67 million.
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