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Here's Why Amazon (AMZN) is a Strong Momentum Stock

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?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Amazon (AMZN)

Amazon.com is one of the largest e-commerce providers, with sprawling operations in North America, now spreading across the globe.

AMZN is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of A. Shares are down 0.6% over the past one week and up 0.1% over the past four weeks. AMZN has gained 44.6% in the last one-year period as well. Looking at trading volume, an average of 31,943,300 shares exchanged hands over the last 20 trading days.

Momentum investors also pay close attention to a company's earnings. For AMZN, 13 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.52 to $4.58 per share for 2024. AMZN boasts an average earnings surprise of 48.2%.

AMZN 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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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report

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Zacks Investment Research