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Here's Why Wayfair (W) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

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.

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Wayfair (W)

Wayfair Inc. is headquartered in Boston, Massachusetts. The company is one of the world's leading online sellers of home goods products, consisting of furniture and home decor.

W is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 8.8% over the past one week and up 17.6% over the past four weeks. W has gained 68% in the last one-year period as well. Looking at trading volume, an average of 5,138,129.50 shares exchanged hands over the last 20 trading days.

Momentum investors also pay close attention to a company's earnings. For W, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.22 to $1.07 per share for 2024. W boasts an average earnings surprise of 70.5%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding W to their portfolios.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Wayfair Inc. (W) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research