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Why Amazon (AMZN) is a Top Momentum Stock for the Long-Term

Zacks Equity Research
·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

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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Amazon (AMZN)

Amazon.com is one of the largest e-commerce providers, with sprawling operations in North America, now spreading across the globe.

AMZN boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Amazon has seen some interesting price action recently; the stock is down 1.5% over the past one week and up 3.7% over the past four weeks. And in the last one-year period, AMZN has gained 56.9%. As for the stock's trading volume, 46,149,040 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 AMZN, while the Zacks Consensus Estimate has increased $0.52 to $4.61 per share. AMZN also boasts an average earnings surprise of 48.2%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding AMZN to their portfolios.

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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research