Are you looking for the best momentum stocks to invest in? We’ve identified two stocks with strong momentum characteristics that you should consider for your portfolio. Let’s dive into the details:
1. Spotify Technology S.A. (SPOT)
Spotify Technology is an audio streaming services company that has been gaining traction in the market. With a Zacks Rank #1 and an impressive 29.7% increase in its Zacks Consensus Estimate for current year earnings over the last 60 days, Spotify Technology is a stock worth considering.
Price and Consensus
Spotify’s shares have recorded a 7.8% gain over the last three months, outperforming the S&P 500’s decline of 9.9%. The company’s momentum score of A further strengthens its appeal to investors. Take a look at the price and consensus chart below for more insights:
Price
If you want a closer look at Spotify Technology’s price performance, the chart below provides valuable information:
2. Universal Stainless & Alloy Products, Inc. (USAP)
Universal Stainless is a specialty steel products company that has been making waves in the market. With a Zacks Rank #1 and a 15.6% increase in its Zacks Consensus Estimate for current year earnings over the last 60 days, Universal Stainless is a promising investment.
Price and Consensus
Universal Stainless’ shares have soared 60.5% over the last six months, outperforming the S&P 500’s decline of 0.9%. The company’s momentum score of A adds credibility to its growth potential. Here’s the price and consensus chart for a closer look:
Price
If you want a closer look at Universal Stainless’ price performance, the chart below provides valuable insights:
These two stocks are shining examples of companies with strong momentum and growth potential. Don’t miss out on the opportunity to add these stocks to your investment portfolio.
Discover More Top-Ranked Stocks
If you’re interested in exploring more top-ranked stocks, check out our full list here. This list contains carefully handpicked stocks with great growth potential, providing you with an opportunity to get in on the ground floor of promising investments.
If you want to learn more about momentum trading and how it is calculated, click here.
5 Stocks Set to Double
As a bonus, we’ve curated a list of 5 stocks that our Zacks expert predicts will double by 2023. In the past, our recommendations have witnessed substantial growth, with some stocks soaring +143.0%, +175.9%, +498.3%, and +673.0%. These stocks are flying under the radar of Wall Street, presenting a unique opportunity to invest early and potentially reap significant rewards.
Ready to hit a home run with your investments? Check out these 5 potential winners here.
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For the most up-to-date recommendations and insights from Zacks Investment Research, download our report on the 7 Best Stocks for the Next 30 Days here.
Looking for Free Stock Analysis Reports?
- Universal Stainless & Alloy Products, Inc. (USAP) – Free Stock Analysis Report
- Spotify Technology (SPOT) – Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
