Market News

These Stocks are the Biggest Pre-Market Movers on Wednesday

TipRanks has compiled a list of Wednesday’s biggest pre-market stock movements. 

Today’s stock market is dominated by mixed market sentiment on earnings releases and other variables. 

Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as detailed below. 

5 Biggest Movers 

Upstart Holdings, Inc. (UPST), a provider of credit services, was the biggest gainer during pre-market trading as the stock popped around 26%, at the time of writing. Positive sentiment followed the company’s upbeat fourth-quarter 2021 results and above expectations revenue guidance. For Q1 2022, revenue is expected in the range of $295 million to $305 million, versus the consensus estimate of $258 million, while for 2022, the company forecasts revenue of $1.4 billion, compared with the Street’s expectations of $1.2 billion. 

Meanwhile, Toast (TOST), tanked 17% during pre-market trading at the time of writing. The all-in-one digital technology platform built for restaurants reported a wider-than-expected loss in the fourth quarter of 2021, raising investors’ concerns. Meanwhile, for Q1 2022, the company projects revenue in the range of $469 million to $499 million, versus the consensus estimate of $463.02 million. For 2022, total revenue is forecast in the range of $2.349 billion to $2.409 billion, while the consensus estimate is pegged at $2.28 billion.  

Another loser, California-based Roblox Corporation (RBLX), dropped 16.3% in pre-market trading, at the time of writing. The American video game developer posted a wider-than-expected fourth-quarter 2021 loss and below expectations revenues. Meanwhile, on a year-over-year basis, quarterly bookings jumped 20% to $770.1 million, while average daily active users (DAUs) grew 33% to 49.5 million. 

ZoomInfo Technologies Inc. (ZI) plunged 14.1% during pre-market trading, at the time of writing despite the company posting better-than-expected fourth-quarter 2021 results and upbeat guidance. The company forecasts Q1 2022 earnings per share (EPS) in the range of $0.14 to $0.15, versus the consensus estimate of $0.15, while revenue is expected to be between $226 million and $228 million, compared with the consensus estimate of $215.6 million. For 2022, EPS is expected to be in the range of $0.71 and $0.73, above analysts’ expectations of $0.68, while revenue is expected to range between $1.01 billion and $1.02 billion, versus the consensus estimate of $982.2 million. ZoomInfo provides a cloud-based platform for sales and marketing teams. 

Stockholm-based Telefonaktiebolaget LM Ericsson (publ) (ERIC) completes the list. At the time of writing, Swedish multinational networking and telecommunications company slumped during pre-market trading, recording losses of about 11%. The negative sentiment followed the company’s revelation of “serious breaches of compliance rules” over Iraq dealings. Corruption-related misconduct and dubious payments in Iraq dealings in 2018 were disclosed.  

Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers.

Download the TipRanks mobile app now 

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. 

Read full Disclaimer & Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More