Seagate (STX) is a Great Momentum Stock: Should You Buy?

Company Overview - Seagate (STX) currently holds a Momentum Style Score of B, indicating a positive momentum outlook [3] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [4] Price Performance - Over the past week, Seagate shares have increased by 1.29%, outperforming the Zacks Computer - Integrated Systems industry, which rose by 0.8% [6] - In a longer time frame, Seagate's shares have risen by 12.44% over the past month, compared to the industry's 3.35% [6] - Over the last quarter, Seagate shares have surged by 82.12%, and are up 40.92% over the past year, significantly outperforming the S&P 500, which increased by 22.7% and 15.9% respectively [7] Trading Volume - Seagate's average 20-day trading volume is 3,888,163 shares, which serves as a baseline for price-to-volume analysis [8] Earnings Outlook - In the past two months, two earnings estimates for Seagate have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $7.95 to $7.96 [10] - For the next fiscal year, two estimates have also moved upwards with no downward revisions during the same period [10] Conclusion - Considering the positive price performance, trading volume, and favorable earnings outlook, Seagate is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [12]