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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?

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 sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is up 0.8% and up 2.4% over the past one-week and four-week period, respectively, and Check Point Software has lost 3.6% in the last one-year period as well. Additionally, an average of 904,256.63 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, 10 analysts revised their earnings estimate higher in the last 60 days for CHKP, while the Zacks Consensus Estimate has increased $0.06 to $8.02 per share. CHKP also boasts an average earnings surprise of 3.7%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding CHKP to their portfolios.

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