Here's Why Wex (WEX) is a Strong Growth Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
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.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Wex (WEX)
Headquartered in South Portland, ME, WEX Inc. is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare.
WEX sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of B, and has a VGM Score of A. Earnings and sales are forecasted to increase 8.5% and 8% year-over-year, respectively.
Nine analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.42 to $14.68 per share. WEX also boasts an average earnings surprise of 5.4%.
Wex is also cash rich. The company has generated cash flow growth of 14.5%, and is expected to report cash flow expansion of 27.6% in 2023.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, WEX should be on investors' short lists.
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WEX Inc. (WEX) : Free Stock Analysis Report
