Here's Why Logitech (LOGI) is a Strong Momentum Stock
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.
Logitech (LOGI)
Based in Switzerland, Logitech International S.A. is the parent holding company of Logitech. The company is a global leader in peripherals for personal computers and other digital platforms. It develops and markets innovative products in PC navigation, Internet communications, digital music, home-entertainment control, video security, interactive gaming and wireless devices.
LOGI boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Logitech has seen some interesting price action recently; the stock is down 4% over the past one week and up 0.9% over the past four weeks. And in the last one-year period, LOGI has gained 66.8%. As for the stock's trading volume, 463,692.06 shares on average were traded over the last 20 days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.45 to $3.88 per share. LOGI boasts an average earnings surprise of 39.8%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding LOGI to their portfolios.
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Logitech International S.A. (LOGI) : Free Stock Analysis Report
