Smartsheet (SMAR) is a Great Momentum Stock: Should You Buy?

Core Insights - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher [1] - The Zacks Momentum Style Score helps investors identify stocks with strong momentum, addressing the challenge of defining momentum [2] Company Overview: Smartsheet (SMAR) - Smartsheet currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance [4] Performance Metrics - Over the past week, Smartsheet shares increased by 7.58%, significantly outperforming the Zacks Internet - Software industry, which rose by only 0.29% [6] - In a longer timeframe, Smartsheet's shares have risen by 28.87% over the past quarter and 39.42% over the last year, compared to the S&P 500's increases of 4.59% and 34.78%, respectively [7] Trading Volume - The average 20-day trading volume for Smartsheet is 6,855,747 shares, indicating a strong trading interest [8] Earnings Outlook - In the past two months, 7 earnings estimates for Smartsheet have been revised upwards, while none have been revised downwards, raising the consensus estimate from $1.26 to $1.39 [10] - For the next fiscal year, 5 estimates have increased, while 2 have decreased, indicating a generally positive outlook [10]