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.
Is This 1 Momentum Stock a Screaming Buy Right Now?
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.
Headquartered in Tel Aviv, Israel and founded in 2006, Wix.com Ltd. is a cloud-based web development platform. The company’s platform offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms.
WIX is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 2.4% over the past one week and up 15.6% over the past four weeks. WIX has gained 24.7% in the last one-year period as well. Looking at trading volume, an average of 482,344.84 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company’s earnings. For WIX, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.76 to $4.09 per share for 2023. WIX boasts an average earnings surprise of 283.6%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding WIX to their portfolios.
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