Here's Why Paymentus (PAY) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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?
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.
Paymentus (PAY)
San Jose, CA-based VeriFone Systems Inc. operates through its principal subsidiary VeriFone Inc, which it acquired in Jul 2002. In May 2010, the company changed its name from VeriFone Holdings to VeriFone Systems.
PAY is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 10.1% over the past one week and up 36.3% over the past four weeks. PAY has gained 29.8% in the last one-year period as well. Looking at trading volume, an average of 136,630.41 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, four analysts revised their earnings estimate higher in the last 60 days for PAY, while the Zacks Consensus Estimate has increased $0.10 to $0.17 per share. PAY also boasts an average earnings surprise of 400%.
Investors should take the time to consider PAY for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Paymentus Holdings, Inc. (PAY) : Free Stock Analysis Report
