Payoneer (US:PAYO) Zacks Investment Researchยท2024-05-15 17:01Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps investors identify effective metrics for momentum, addressing the challenges in defining momentum [2] Group 2: Payoneer Global Inc. (PAYO) Performance - Payoneer Global Inc. currently has a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [3][4] - Over the past week, PAYO shares increased by 14.96%, while the Zacks Technology Services industry saw a decline of 0.21% [6] - In a longer timeframe, PAYO shares rose by 21.58% monthly, compared to the industry's 1.31% [6] - Over the past quarter, PAYO shares increased by 8.52%, and over the last year, they gained 31.98%, outperforming the S&P 500's respective increases of 5.3% and 28.9% [7] Group 3: Trading Volume and Earnings Outlook - PAYO's average 20-day trading volume is 2,655,776 shares, which serves as a bullish indicator when combined with rising stock prices [8] - Recent earnings estimate revisions for PAYO show positive trends, with three estimates moving higher for the current year, raising the consensus estimate from $0.20 to $0.24 [10] - For the next fiscal year, two estimates have also increased, with no downward revisions noted [10] Group 4: Conclusion - Given the positive performance metrics and earnings outlook, PAYO is positioned as a strong momentum pick for investors seeking short-term opportunities [11]