Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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.
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.
Splunk (SPLK)
San Francisco, CA-based Splunk Inc. provides software solutions that enable enterprises to gain real-time operational intelligence by harnessing the value of their data. The company’s offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and helps in operational decision making.
SPLK boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Splunk has seen some interesting price action recently; the stock is up 7.6% over the past one week and up 24.8% over the past four weeks. And in the last one-year period, SPLK has lost 5%. As for the stock's trading volume, 1,617,812 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, 11 analysts revised their earnings estimate higher in the last 60 days for SPLK, while the Zacks Consensus Estimate has increased $0.35 to $3.10 per share. SPLK also boasts an average earnings surprise of 168.7%.
Investors should take the time to consider SPLK for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Splunk Inc. (SPLK) : Free Stock Analysis Report
