Here's Why Pitney Bowes (PBI) is a Strong Momentum Stock
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.
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.
Pitney Bowes (PBI)
Stamford, CT-based Pitney Bowes is one of the largest providers of mail processing equipment and integrated mail solutions across the world.
PBI is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 3.1% over the past one week and up 0.6% over the past four weeks. PBI has gained 96.2% in the last one-year period as well. Looking at trading volume, an average of 1,611,313.38 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, one analyst revised their earnings estimate higher in the last 60 days for PBI, while the Zacks Consensus Estimate has increased $0.27 to $0.35 per share. PBI also boasts an average earnings surprise of 114.6%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding PBI to their portfolios.
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Pitney Bowes Inc. (PBI) : Free Stock Analysis Report