Here's Why JPMorgan Chase & Co. (JPM) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
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.
JPMorgan Chase & Co. (JPM)
Headquartered in New York, JPMorgan Chase & Co. is one of the biggest global banks with assets valued at $3.87 trillion and stockholders’ equity worth $312.5 billion as of Jun 30, 2023. With operations in more than 60 countries, the company (incorporated under Delaware law in 1968) is one of the largest financial service firms in the world.
JPM sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 0.1% and up 0.9% over the past one-week and four-week period, respectively, and JPMorgan Chase & Co. has gained 36.9% in the last one-year period as well. Additionally, an average of 8,897,670 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, four analysts revised their earnings estimate higher in the last 60 days for JPM, while the Zacks Consensus Estimate has increased $0.11 to $16.05 per share. JPM also boasts an average earnings surprise of 15.3%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding JPM to their portfolios.
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JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
