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

Zacks Equity Research
Updated ·2 min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

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.

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Hewlett Packard Enterprise (HPE)

Headquartered in Palo Alto, CA, Hewlett Packard Enterprise Company was formed as a result of the split of Hewlett-Packard Company into two separate entities – one focusing on the enterprise-facing hardware and service business and the other focusing on the consumer-facing computer and printer segments.

HPE sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is down 0.4% and up 13.5% over the past one-week and four-week period, respectively, and Hewlett Packard Enterprise has gained 4.2% in the last one-year period as well. Additionally, an average of 12,526,491 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. Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.05 to $2.07 per share. HPE boasts an average earnings surprise of 4.7%.

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

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Hewlett Packard Enterprise Company (HPE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research