Yahoo Finance Why Iridium Communications (IRDM) is a Top Momentum Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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.
Iridium Communications (IRDM)
Founded in 2000 and headquartered in McLean, VA, Iridium Communications Inc is a satellite communications company that offers dedicated commercial global voice and data communications services to both businesses and governments in the U.S. as well as globally. It also works with non-governmental organizations.
IRDM boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Iridium Communications has seen some interesting price action recently; the stock is down 0.6% over the past one week and up 4.4% over the past four weeks. And in the last one-year period, IRDM has lost 46.7%. As for the stock's trading volume, 1,027,273.31 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For IRDM, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $0.77 per share for 2024. IRDM boasts an average earnings surprise of 202.2%.
IRDM should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Iridium Communications Inc (IRDM) : Free Stock Analysis Report
