Parsons(US:PSN) ZACKSยท2024-10-03 17:01Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: Parsons (PSN) - Parsons currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating a favorable outlook for the stock [3][4]. - The stock has shown significant price performance, with a 3.74% increase over the past week, compared to a 0.45% increase in the Zacks Technology Services industry [6]. - Over the last month, PSN's shares have increased by 12.98%, while the industry has only seen a 0.1% increase [6]. - In the longer term, PSN shares have increased by 32.86% over the past quarter and 93.63% over the past year, significantly outperforming the S&P 500's gains of 3.97% and 34.89%, respectively [7]. Trading Volume - PSN's average 20-day trading volume is 1,255,436 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - Recent earnings estimate revisions for PSN have been positive, with two estimates moving higher for the full year, raising the consensus estimate from $3.13 to $3.20 over the past 60 days [10]. - For the next fiscal year, two estimates have also moved upwards, with no downward revisions during the same period [10].