Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Alphabet (GOOGL)
Alphabet is one of the most innovative companies in the modern technological age. Over the last few years, the company has evolved from primarily being a search-engine provider to cloud computing, ad-based video and music streaming, autonomous vehicles, healthcare providers and others. In the online search arena, Google has a monopoly with more than 94% of the online search volume and market. Over the years, the company has witnessed increase in search queries, resulting from ongoing growth in user adoption and usage, primarily on mobile devices, continued growth in advertiser activity, and improvements in ad formats.
GOOGL boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Alphabet has seen some interesting price action recently; the stock is down 2.3% over the past one week and up 2.2% over the past four weeks. And in the last one-year period, GOOGL has gained 46.2%. As for the stock's trading volume, 23,865,018 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for GOOGL, while the Zacks Consensus Estimate has increased $0 to $6.78 per share. GOOGL also boasts an average earnings surprise of 7.2%.
Investors should take the time to consider GOOGL for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Alphabet Inc. (GOOGL) : Free Stock Analysis Report
