Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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.
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 boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Paymentus has seen some interesting price action recently; the stock is up 0.8% over the past one week and up 13% over the past four weeks. And in the last one-year period, PAY has gained 48.5%. As for the stock's trading volume, 96,526.95 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. Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.10 to $0.17 per share. PAY boasts an average earnings surprise of 400%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding PAY to their portfolios.
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Paymentus Holdings, Inc. (PAY) : Free Stock Analysis Report
