Etsy (ETSY) is a Top-Ranked Momentum Stock: Should You Buy?
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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.
Etsy (ETSY)
Brooklyn, NY-based Etsy is primarily an e-commerce service provider, which operates a two-sided marketplace platform called Etsy.com. The company completed Initial Public Offering (IPO) in 2015.
ETSY is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 9.2% over the past one week and up 1.5% over the past four weeks. ETSY has lost 46.3% in the last one-year period as well. Looking at trading volume, an average of 4,175,685.25 shares exchanged hands over the last 20 trading 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 $0.07 to $2.72 per share. ETSY boasts an average earnings surprise of 35.9%.
ETSY should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Etsy, Inc. (ETSY) : Free Stock Analysis Report
