The Rising Stars in Stock Market Momentum The Rising Stars in Stock Market Momentum

Written By Michael Gary Scott

For investors seeking to ride the wave of upward momentum in the stock market, there are shining candidates to consider as of March 12th. Let’s delve into the performance of three prominent players:

Revving Up: Li Auto Inc.

Zooming into the spotlight is Li Auto Inc. (LI), a China-based new energy vehicles company that has captured attention with a Zacks Rank #1. The company stands out as the Zacks Consensus Estimate for its current year earnings surged by 6.7% over the last 60 days.

The Drive Forward

As the market has been shifting gears, Li Auto’s shares accelerated by an impressive 22.1% over the past month, leaving the S&P 500 trailing in its wake with a mere 3% advance. Fueling its momentum is a stellar Momentum Score rated as A.

On the Fast Track: Sumitomo Mitsui Financial Group, Inc.

Another standout performer is Sumitomo Mitsui Financial Group, Inc. (SMFG), a multifaceted entity offering commercial banking, leasing, securities, consumer finance, and more. Boasting a Zacks Rank #1, the company witnessed a robust 9.3% surge in the Zacks Consensus Estimate for its current year earnings over the past 60 days.

Ascending Heights

In the race for gains, Sumitomo Mitsui’s shares outshone the competition with a remarkable 17.2% climb over the last three months, compared to the S&P 500’s 8.4% rise. Its robust Momentum Score of A underpins its growth trajectory.

Navigating Success: Korn Ferry

Completing the trio is Korn Ferry (KFY), a consulting services company that has been navigating towards success with a Zacks Rank #1. Over the past 60 days, the firm witnessed a 6.1% surge in the Zacks Consensus Estimate for its current year earnings.

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Charting the Course

Korn Ferry’s shares have been cruising with gains of 14.8% in the last three months, surpassing the S&P 500’s ascent of 8.4%. With a Momentum Score of A, the company proves its mettle in the competitive market landscape.

Get a glimpse of more top-notch stocks by checking out the full list of top-ranked stocks here.

Want to learn more about the Momentum Score and how it is calculated? Explore further here.

Zacks whispers “Single Best Pick to Double”…

Among a sea of stocks, 5 Zacks experts have each selected their favorites that could skyrocket by over 100% in the coming months. Director of Research Sheraz Mian has zeroed in on one with the potential for the most explosive upside. This promising investment is on the verge of emerging from bear market lows, equipped with groundbreaking medical innovations in the pipeline. It’s a golden opportunity worth seizing, possibly outshining recent stock success stories like Boston Beer Company’s 143.0% surge in under 9 months and NVIDIA’s whopping 175.9% rise in just one year.