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Why This 1 Growth 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.

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.

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Iridium Communications (IRDM)

Founded in 2000 and headquartered in McLean, VA, Iridium Communications Inc. is the only satellite communications company that offers dedicated commercial global voice and data communications. The company delivers an array of reliable and low latency communications services to businesses, consumers, wireline and wireless telecommunications operators and Internet service providers. The company also offers commercial satellite communication services to the U.S. and foreign governments, and other non-governmental organizations.

IRDM sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 271.4% and 13.9% year-over-year, respectively.

One analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $0.12 per share for 2022. IRDM boasts an average earnings surprise of 100%.

On a historic basis, Iridium Communications has generated cash flow growth of 13.2%, and is expected to report cash flow expansion of 9.4% this year.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, IRDM should be on investors' short lists.


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