Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
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?
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.
Meta Platforms (META)
Meta Platforms is the world’s largest social media platform. The company’s portfolio offering evolved from a single Facebook app to multiple apps like photo and video sharing app Instagram and WhatsApp messaging app owing to acquisitions. Along with in-house developed Messenger, these apps now form Meta’s family of products used by almost 3.24 billion people on a daily basis as of Mar 31, 2024.
META sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 4.9% and up 5.1% over the past one-week and four-week period, respectively, and Meta Platforms has gained 72.9% in the last one-year period as well. Additionally, an average of 11,002,214 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For META, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.08 to $20.19 per share for 2024. META boasts an average earnings surprise of 13.3%.
META 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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Meta Platforms, Inc. (META) : Free Stock Analysis Report
