It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
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.
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Snap's flagship product, Snapchat, is a mobile camera application that helps people to communicate through short videos and images called Snaps. The application is one of the most popular and trendy messaging and social media applications in the United States. It is also growing rapidly in other international markets, such as India.
SNAP boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Snap has seen some interesting price action recently; the stock is up 19.9% over the past one week and up 16% over the past four weeks. And in the last one-year period, SNAP has gained 16.9%. As for the stock's trading volume, 30,490,556 shares on average were traded over the last 20 days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.05 to $0.24 per share. SNAP boasts an average earnings surprise of 58.6%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding SNAP to their portfolios.
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