Advertisement
Canada markets closed
  • S&P/TSX

    22,690.39
    -36.37 (-0.16%)
     
  • S&P 500

    5,505.00
    -39.59 (-0.71%)
     
  • DOW

    40,287.53
    -377.49 (-0.93%)
     
  • CAD/USD

    0.7282
    -0.0016 (-0.22%)
     
  • CRUDE OIL

    80.25
    -2.57 (-3.10%)
     
  • Bitcoin CAD

    92,715.59
    +636.08 (+0.69%)
     
  • CMC Crypto 200

    1,391.02
    +60.12 (+4.52%)
     
  • GOLD FUTURES

    2,402.80
    -53.60 (-2.18%)
     
  • RUSSELL 2000

    2,184.35
    -13.94 (-0.63%)
     
  • 10-Yr Bond

    4.2390
    +0.0500 (+1.19%)
     
  • NASDAQ

    17,726.94
    -144.28 (-0.81%)
     
  • VOLATILITY

    16.52
    +0.59 (+3.70%)
     
  • FTSE

    8,155.72
    -49.17 (-0.60%)
     
  • NIKKEI 225

    40,063.79
    -62.56 (-0.16%)
     
  • CAD/EUR

    0.6690
    -0.0003 (-0.04%)
     

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

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

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.

ADVERTISEMENT

Astrazeneca (AZN)

AstraZeneca plc, headquartered in London, UK, is one of the largest biopharmaceutical companies in the world. AstraZeneca was formed on Apr 6, 1999, through the merger of Sweden’s Astra AB and UK’s Zeneca Group plc. AstraZeneca’s business can be broken down into separate lines based on therapeutic classes. These include cardiovascular, respiratory, immunology, oncology, rare diseases, vaccines and other.

AZN boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Astrazeneca has seen some interesting price action recently; the stock is down 1.6% over the past one week and up 3.2% over the past four weeks. And in the last one-year period, AZN has gained 6.6%. As for the stock's trading volume, 3,761,780 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For AZN, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $4.04 per share for 2024. AZN boasts an average earnings surprise of 6.8%.

AZN 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

AstraZeneca PLC (AZN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research