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5 Stocks with Recent Price Strength to Tap into Market Gains
U.S. stock markets ended in positive territory in a volatile August. All three major stock indexes finished in green. The broad-market index – the S&P 500 – recorded four consecutive months of positive closing.
Consequently, several stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here's how you should create the screen to shortlist the current as well as the potential winners.
Let's discuss five out of these 21 stocks:
Sezzle Inc. operates as a technology-enabled payments company primarily in the United States and Canada. SEZL provides payment solution in-store and at online retail stores through proprietary payments solution that connects consumers with merchants.
SEZL also offers Sezzle Platform that provides a payments solution for consumers that extends credit at the point-of-sale allowing consumers to purchase and receive the ordered merchandise at the time of sale while paying in installments over time.
The stock price of Sezzle has soared 76.7% in the past four weeks. The company has expected earnings growth of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved 37.1% over the last 30 days.
Climb Global Solutions Inc.operates as a value-added information technology distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. CLMB operates in two segments, Distribution and Solutions. CLMB markets its products through its own websites, local and on-line seminars, events, webinars, and social media, as well as direct email and printed materials.
CLMB distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions, and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.
The stock price of Climb Global Solutions has jumped 42.9% in the past four weeks. The company has expected earnings growth of 20.6% for the current year. The Zacks Consensus Estimate for the current year has improved 12.3% over the last 30 days.
Qifu Technology Inc.operates as a credit-tech platform under the 360 Jietiao brand in the People's Republic of China. QFIN provides credit-driven services that match borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services and platform services. QFIN also offers e-commerce loans, enterprise loans, and invoice loans to SME owners. QFIN serves financial institutions, consumers, and small- and micro-enterprises.
The stock price of Qifu Technology has climbed 38.2% in the past four weeks. It has an expected earnings growth rate of 14.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20.5% over the last 30 days.
Ponce Financial Group Inc. is a Minority Depository Institution, a Community Development Financial Institution and a certified Small Business Administration lender. PDLB's business primarily takes deposits from the general public and to a lesser extent, from alternative funding sources and invests those deposits, together with funds generated from operations and borrowings, in mortgage loans.
PDLB also invests in securities, which consist of U.S. Government and federal agency securities and securities issued by government-sponsored or government-owned enterprises, as well as, mortgage-backed securities, corporate bonds and obligations and Federal Home Loan Bank stock.
The stock price of Ponce Financial Group has surged 21% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved more than 100% over the last 60 days.
Northwest Pipe Co. manufactures welded steel pipes in two business segments. In Water Transmission business, NWPX is a supplier of large-diameter, high-pressure steel pipe used primarily for water transmission. In Tubular Products business, NWPX manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications.
The stock price of Northwest Pipe has appreciated 18.6% in the past four weeks. It has an expected earnings growth rate of 41.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20.3% over the last 30 days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
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Zacks.com featured highlights include Sezzle Climb Global, Qifu Technology, Ponce Financial and Northwest Pipe
For Immediate Release
Chicago, IL – September 4, 2024 – Stocks in this week’s article are Sezzle Inc. (SEZL - Free Report) , Climb Global Solutions Inc. (CLMB - Free Report) , Qifu Technology Inc. (QFIN - Free Report) , Ponce Financial Group Inc. (PDLB - Free Report) and Northwest Pipe Co. (NWPX - Free Report) .
5 Stocks with Recent Price Strength to Tap into Market Gains
U.S. stock markets ended in positive territory in a volatile August. All three major stock indexes finished in green. The broad-market index – the S&P 500 – recorded four consecutive months of positive closing.
Consequently, several stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here's how you should create the screen to shortlist the current as well as the potential winners.
Let's discuss five out of these 21 stocks:
Sezzle Inc. operates as a technology-enabled payments company primarily in the United States and Canada. SEZL provides payment solution in-store and at online retail stores through proprietary payments solution that connects consumers with merchants.
SEZL also offers Sezzle Platform that provides a payments solution for consumers that extends credit at the point-of-sale allowing consumers to purchase and receive the ordered merchandise at the time of sale while paying in installments over time.
The stock price of Sezzle has soared 76.7% in the past four weeks. The company has expected earnings growth of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved 37.1% over the last 30 days.
Climb Global Solutions Inc.operates as a value-added information technology distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. CLMB operates in two segments, Distribution and Solutions. CLMB markets its products through its own websites, local and on-line seminars, events, webinars, and social media, as well as direct email and printed materials.
CLMB distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions, and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.
The stock price of Climb Global Solutions has jumped 42.9% in the past four weeks. The company has expected earnings growth of 20.6% for the current year. The Zacks Consensus Estimate for the current year has improved 12.3% over the last 30 days.
Qifu Technology Inc.operates as a credit-tech platform under the 360 Jietiao brand in the People's Republic of China. QFIN provides credit-driven services that match borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services and platform services. QFIN also offers e-commerce loans, enterprise loans, and invoice loans to SME owners. QFIN serves financial institutions, consumers, and small- and micro-enterprises.
The stock price of Qifu Technology has climbed 38.2% in the past four weeks. It has an expected earnings growth rate of 14.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20.5% over the last 30 days.
Ponce Financial Group Inc. is a Minority Depository Institution, a Community Development Financial Institution and a certified Small Business Administration lender. PDLB's business primarily takes deposits from the general public and to a lesser extent, from alternative funding sources and invests those deposits, together with funds generated from operations and borrowings, in mortgage loans.
PDLB also invests in securities, which consist of U.S. Government and federal agency securities and securities issued by government-sponsored or government-owned enterprises, as well as, mortgage-backed securities, corporate bonds and obligations and Federal Home Loan Bank stock.
The stock price of Ponce Financial Group has surged 21% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved more than 100% over the last 60 days.
Northwest Pipe Co. manufactures welded steel pipes in two business segments. In Water Transmission business, NWPX is a supplier of large-diameter, high-pressure steel pipe used primarily for water transmission. In Tubular Products business, NWPX manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications.
The stock price of Northwest Pipe has appreciated 18.6% in the past four weeks. It has an expected earnings growth rate of 41.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20.3% over the last 30 days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2330656/5-stocks-with-recent-price-strength-to-tap-market-rally
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Follow us on Twitter: https://www.twitter.com/zacksresearch
Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Contact: Jim Giaquinto
Company: Zacks.com
Phone: 312-265-9268
Email: pr@zacks.com
Visit: https://www.zacks.com/
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.