State Street Corporation (STT) is a Great Momentum Stock: Should You Buy?

Core 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] Company Overview: State Street Corporation (STT) - State Street Corporation currently holds a Momentum Style Score of B and a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperformance [3][4] - The stock has shown positive short-term price activity, with shares up 0.58% over the past week, contrasting with a 1.23% decline in the Zacks Banks - Major Regional industry [6] - Over the last month, STT's price increased by 4.32%, significantly outperforming the industry's 0.93% [6] - In the longer term, STT shares have risen 14.59% over the past quarter and 31.98% over the last year, compared to the S&P 500's gains of 8.11% and 19.22%, respectively [7] Trading Volume - The average 20-day trading volume for STT is 1,549,088 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, 6 earnings estimates for STT have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $9.79 to $9.96 [10] - For the next fiscal year, 6 estimates have also moved higher without any downward revisions [10] Conclusion - Given the positive momentum indicators and earnings outlook, STT is positioned as a strong buy candidate for investors seeking short-term opportunities [12]