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Investors who target stocks displaying relative strength often find themselves in favorable trends, no matter the direction of the general market.
For a quick explanation, relative strength focuses on stocks or other assets that have performed well relative to the market as a whole or a relevant benchmark.
Three stocks – Dick’s Sporting Goods (DKS - Free Report) , Meta Platforms (META - Free Report) , and Sea Limited (SE - Free Report) – could all be considerations for investors looking to tap into relative strength.
All three have stolen the show in March so far, up more than 10% and widely outperforming the S&P 500. This is illustrated in the chart below.
Image Source: Zacks Investment Research
Let’s take a closer look at each one.
Meta Platforms
Meta has intensely focused on cost-cutting measures, with recent layoff announcements and expense cuts helping pump life into shares. Currently, META sports a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
META shares have gotten much cheaper following a harsh 2022, with the company’s 20.1X forward earnings multiple sitting well beneath the 23.4X median and the Zacks Computer and Technology sector average.
Image Source: Zacks Investment Research
Meta Platforms posted a monster quarter in its latest release, exceeding bottom line expectations by more than 40% and delivering a 3% revenue surprise. Below is a chart illustrating the company’s revenue on a quarterly basis.
Image Source: Zacks Investment Research
Dick’s Sporting Goods
Dick’s Sporting Goodsis a significant omnichannel sporting goods retailer, offering athletic shoes, apparel, accessories, and a broad selection of outdoor and athletic equipment. DKS is currently a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
Dick’s Sporting Goods posted strong results in its latest release, penciling in a 3% EPS beat and a 5.5% revenue surprise. The market took the better-than-expected results in stride, sending shares soaring.
Image Source: Zacks Investment Research
Sea Limited
Sea Limited, an internet service provider company, offers Digital Entertainment, E-Commerce, and Digital Financial Services known as Garena, Shopee, and AirPay. Like DKS, Sea Limited carries a favorable Zacks Rank #1 (Strong Buy).
Impressively, in its latest release, SE exceeded the Zacks Consensus EPS Estimate by more than 250% and posted revenue modestly ahead of expectations.
It’s worth noting that this recent double-beat snapped a streak of negative surprises.
Image Source: Zacks Investment Research
Bottom Line
Focusing on stocks displaying relative strength is a great way for investors to find themselves in positive trends.
And in March, all three stocks above – Dick’s Sporting Goods (DKS - Free Report) , Meta Platforms (META - Free Report) , and Sea Limited (SE - Free Report) – have displayed immense relative strength, outperforming the general market by notable margins.
In addition, all three sport a favorable Zacks Rank, indicating that they’ve enjoyed positive earnings estimate revisions.
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3 Stocks Stealing the Show in March
Investors who target stocks displaying relative strength often find themselves in favorable trends, no matter the direction of the general market.
For a quick explanation, relative strength focuses on stocks or other assets that have performed well relative to the market as a whole or a relevant benchmark.
Three stocks – Dick’s Sporting Goods (DKS - Free Report) , Meta Platforms (META - Free Report) , and Sea Limited (SE - Free Report) – could all be considerations for investors looking to tap into relative strength.
All three have stolen the show in March so far, up more than 10% and widely outperforming the S&P 500. This is illustrated in the chart below.
Image Source: Zacks Investment Research
Let’s take a closer look at each one.
Meta Platforms
Meta has intensely focused on cost-cutting measures, with recent layoff announcements and expense cuts helping pump life into shares. Currently, META sports a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
META shares have gotten much cheaper following a harsh 2022, with the company’s 20.1X forward earnings multiple sitting well beneath the 23.4X median and the Zacks Computer and Technology sector average.
Image Source: Zacks Investment Research
Meta Platforms posted a monster quarter in its latest release, exceeding bottom line expectations by more than 40% and delivering a 3% revenue surprise. Below is a chart illustrating the company’s revenue on a quarterly basis.
Image Source: Zacks Investment Research
Dick’s Sporting Goods
Dick’s Sporting Goodsis a significant omnichannel sporting goods retailer, offering athletic shoes, apparel, accessories, and a broad selection of outdoor and athletic equipment. DKS is currently a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
Dick’s Sporting Goods posted strong results in its latest release, penciling in a 3% EPS beat and a 5.5% revenue surprise. The market took the better-than-expected results in stride, sending shares soaring.
Image Source: Zacks Investment Research
Sea Limited
Sea Limited, an internet service provider company, offers Digital Entertainment, E-Commerce, and Digital Financial Services known as Garena, Shopee, and AirPay. Like DKS, Sea Limited carries a favorable Zacks Rank #1 (Strong Buy).
Impressively, in its latest release, SE exceeded the Zacks Consensus EPS Estimate by more than 250% and posted revenue modestly ahead of expectations.
It’s worth noting that this recent double-beat snapped a streak of negative surprises.
Image Source: Zacks Investment Research
Bottom Line
Focusing on stocks displaying relative strength is a great way for investors to find themselves in positive trends.
And in March, all three stocks above – Dick’s Sporting Goods (DKS - Free Report) , Meta Platforms (META - Free Report) , and Sea Limited (SE - Free Report) – have displayed immense relative strength, outperforming the general market by notable margins.
In addition, all three sport a favorable Zacks Rank, indicating that they’ve enjoyed positive earnings estimate revisions.