Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

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.

Snap (SNAP)

Snap's flagship product, Snapchat, is a mobile camera application that helps people to communicate through short videos and images called Snaps. The application is one of the most popular and trendy messaging and social media applications in the United States. It is also growing rapidly in other international markets, such as India.

SNAP sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 32.1% and up 35.8% over the past one-week and four-week period, respectively, and Snap has gained 81.1% in the last one-year period as well. Additionally, an average of 37,659,192 shares were traded over the last 20 trading sessions.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.06 to $0.21 per share. SNAP boasts an average earnings surprise of 93.6%.

SNAP 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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Snap Inc. (SNAP) : Free Stock Analysis Report

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