Advertisement

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.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

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.

ADVERTISEMENT

HP (HPQ)

HP Inc. is the surviving entity following the November 2015 split of Hewlett-Packard Company into publicly traded entities - Hewlett Packard Enterprise Company and HP Inc.

HPQ boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of HP has seen some interesting price action recently; the stock is up 1.2% over the past one week and up 11.3% over the past four weeks. And in the last one-year period, HPQ has gained 23.1%. As for the stock's trading volume, 10,333,438 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, three analysts revised their earnings estimate higher in the last 60 days for HPQ, while the Zacks Consensus Estimate has increased $0.03 to $3.45 per share. HPQ also boasts an average earnings surprise of 0.3%.

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

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

HP Inc. (HPQ) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research