Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio

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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.

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?

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.

NetApp (NTAP)

NetApp provides enterprise storage as well as data management software and hardware products and services. The San Jose, CA based company assists enterprises in managing multiple clouds environments, adopting next-generation technologies like artificial intelligence (AI), Kubernetes, and contemporary databases, and navigating the complexity brought about by the quick development of data and cloud usage.

NTAP sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 0.8% and up 19.5% over the past one-week and four-week period, respectively, and NetApp has gained 69.6% in the last one-year period as well. Additionally, an average of 2,851,885.50 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, nine analysts revised their earnings estimate higher in the last 60 days for NTAP, while the Zacks Consensus Estimate has increased $0.31 to $6.47 per share. NTAP also boasts an average earnings surprise of 12.3%.

NTAP should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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NetApp, Inc. (NTAP) : Free Stock Analysis Report

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