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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

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

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.

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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Allegiant Travel (ALGT)

Allegiant Travel Company, based in Las Vegas, NV, was founded in 1997. The company, through its subsidiary Allegiant Air LLC, operates a low-cost passenger airline. It focuses on linking leisure travelers in small and medium sized cities to world-class leisure destinations.

ALGT boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of Allegiant Travel has seen some interesting price action recently; the stock is up 7.4% over the past one week and up 7.9% over the past four weeks. And in the last one-year period, ALGT has lost 26.2%. As for the stock's trading volume, 208,644.30 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, six analysts revised their earnings estimate higher in the last 60 days for ALGT, while the Zacks Consensus Estimate has increased $2.27 to $8.47 per share. ALGT also boasts an average earnings surprise of 79.8%.

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

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Allegiant Travel Company (ALGT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research