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?
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.
Wayfair (W)
Wayfair Inc. is headquartered in Boston, Massachusetts. The company is one of the world's leading online sellers of home goods products, consisting of furniture and home decor.
W boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Wayfair has seen some interesting price action recently; the stock is up 13.6% over the past one week and up 10.7% over the past four weeks. And in the last one-year period, W has gained 41.6%. As for the stock's trading volume, 4,567,871 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, 12 analysts revised their earnings estimate higher in the last 60 days for W, while the Zacks Consensus Estimate has increased $1.04 to $0.78 per share. W also boasts an average earnings surprise of 71.9%.
Investors should take the time to consider W for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Wayfair Inc. (W) : Free Stock Analysis Report
