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MARKETS LIVE BLOG:

STOCKS RISE AT OPEN AS TECHS REVIVE, WITH NETFLIX EARNINGS ON TAP

U.S. bond yields continue to slip away from recent five-month highs, easing pressure on stocks

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

Zacks Equity Research
·2 min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

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?

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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Check Point Software (CHKP)

Headquartered in Tel Aviv, Israel, Check Point Software Technologies Ltd. has evolved into a well-known provider of information technology (IT) security solutions across the world.

CHKP is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 1.9% over the past one week and up 1.2% over the past four weeks. CHKP has lost 0.5% in the last one-year period as well. Looking at trading volume, an average of 948,988.13 shares exchanged hands over the last 20 trading days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0 to $7.24 per share. CHKP boasts an average earnings surprise of 3%.

CHKP should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong 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
 
Check Point Software Technologies Ltd. (CHKP) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research