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Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

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.

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Pinterest (PINS)

Pinterest was incorporated in Delaware in 2008 and is headquartered in San Francisco. The company provides a platform to show its users (called Pinners) visual recommendations (called Pins) based on their personal taste and interests. Users then save and organize these recommendations into collections (called Boards).

PINS boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Pinterest has seen some interesting price action recently; the stock is up 5.3% over the past one week and up 27.3% over the past four weeks. And in the last one-year period, PINS has gained 98.1%. As for the stock's trading volume, 11,547,526 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For PINS, nine analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.09 to $1.43 per share for 2024. PINS boasts an average earnings surprise of 38.8%.

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

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Pinterest, Inc. (PINS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research