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Why Netflix (NFLX) 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?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

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Netflix (NFLX)

Netflix is considered a pioneer in the streaming space. The company evolved from a small DVD-rental provider to a dominant streaming service provider, courtesy of its wide-ranging content portfolio and a fortified international footprint. At the end of the first quarter of 2024, the company had 269.6 million paid subscribers globally.

NFLX boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Netflix has seen some interesting price action recently; the stock is up 3.9% over the past one week and up 6.8% over the past four weeks. And in the last one-year period, NFLX has gained 60.7%. As for the stock's trading volume, 2,477,095.50 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for NFLX, while the Zacks Consensus Estimate has increased $0.34 to $18.31 per share. NFLX also boasts an average earnings surprise of 9.3%.

Investors should take the time to consider NFLX for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Netflix, Inc. (NFLX) : Free Stock Analysis Report

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Zacks Investment Research