Yahoo Finance Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Seagate (STX)
Headquartered at Dublin, Ireland, Seagate is leading provider of data storage technology and infrastructure solutions. The company’s primary product offering is hard disk drives which is commonly referred to as disk drives, hard drives or HDDs. HDDs are used as the primary medium for storing digitally encoded data on rapidly rotating disks with magnetic surfaces.
STX sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 9.6% and up 17.3% over the past one-week and four-week period, respectively, and Seagate has gained 61.5% in the last one-year period as well. Additionally, an average of 2,677,135.50 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for STX, while the Zacks Consensus Estimate has increased $0.39 to $0.92 per share. STX also boasts an average earnings surprise of 76.4%.
Investors should take the time to consider STX for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report
