Russ Cohen

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Unleashing the Power of Momentum Stocks

In the high-stakes world of investing, momentum stocks have a unique allure – they are the hare darting ahead in the race while others mere turtles. On September 9th, three such stocks boldly assert their presence:

Affirm Holdings, Inc. AFRM emerges as a star player, flaunting a Zacks Rank #1 amidst a resounding 43.1% surge in the Zacks Consensus Estimate for its current year earnings within the last 60 days.

Driving Force: Affirm Holdings, Inc. Price and Consensus

A whirlwind 26.2% jump in Affirm Holdings’ shares over the past three months against the S&P 500’s paltry 0.9% highlights its supremacy. This payment network gem glows with a tantalizing Momentum Score of A.

Accelerating Growth: Affirm Holdings, Inc. Price

Cerence Inc. CRNC, a wizard in AI-driven mobility solutions, not to be outdone, flaunts a Zacks Rank #1 too. Sporting a 15% surge in the Zacks Consensus Estimate for its current year earnings over the last 60 days, Cerence Inc. is a force to reckon with.

On the Fast Track: Cerence Inc. Price and Consensus

Cerence’s sharp 22.4% rise in shares over the past month against the S&P 500’s modest 1.4% progress is a testament to its roaring momentum. With a Momentum Score of A, Cerence Inc. is truly in a league of its own.

Shaping the Future: Victoria’s Secret & Co. Price and Consensus

Victoria’s Secret & Co. VSCO, the iconic women’s apparel retailer, struts its stuff with a Zacks Rank #1. Boasting a remarkable 15.1% uptick in the Zacks Consensus Estimate for its current year earnings in the last 60 days, Victoria’s Secret & Co. looks set to captivate investors.

See also  <!DOCTYPE html><html lang="en"><head><meta charset="UTF-8"><meta name="viewport" content="width=device-width, initial-scale=1.0"><title>Netflix's Stellar Performance in Q1 2024</title></head><body><h2>The Raging Success of the Streaming Giant</h2><p>Netflix reported exceptional first-quarter 2024 earnings of $5.28 per share, outperforming the Zacks Consensus Estimate by a staggering 17.07%. This marked a remarkable 83.3% surge from the preceding year, reflecting the company's undeniable prowess in the streaming industry.</p><p>The streaming behemoth saw revenues soar to $9.37 billion, showcasing a robust 14.8% year-over-year growth that surpassed the consensus expectations by 1.18%. The surge can be attributed to a strategic combination of revenue initiatives, such as cracking down on password-sharing, introducing an ad-supported tier, and implementing recent price hikes on select subscription plans.</p><h3>The Growth Engine: Subscriber Momentum</h3><p>Netflix ended the first quarter with a solid user base of 269.6 million paid subscribers spanning over 190 countries globally, depicting a commendable 16% annual increase. The company experienced a considerable influx of new customers, with a strong presence noted in the United States and Canada.</p><p>The quarter saw a substantial uptick of 9.33 million paid subscribers worldwide, accompanied by a 1% increase in average revenue per membership (ARM) on a reported basis and a robust 4% growth on a foreign-exchange neutral basis. This impressive performance follows the addition of 1.75 million paid subscribers in the corresponding period last year.</p><p>In a bid to diversify its content offerings, Netflix attributed its success to exclusive intellectual property like original series, including critically acclaimed titles like "Griselda," "3 Body Problem," "Avatar: The Last Airbender," "Love Is Blind Season 6," "American Nightmare," and "Dave Chappelle: The Dreamer."</p><p>The platform also noted significant viewership of U.K. content and original Korean titles, underscoring the global appeal of its diverse content library.</p><h3>Expanding Horizons and Strategic Shifts</h3><p>In a bold move to solidify its dominance in the streaming landscape, Netflix is venturing into new territories such as live events. The company recently secured a groundbreaking $5 billion deal to exclusively stream WWE's flagship wrestling show, "Raw," disrupting traditional broadcast paradigms that have stood unchallenged for over three decades.</p><p>Furthermore, Netflix forged a strategic partnership with Rockstar Games’ "Grand Theft Auto" franchise, signaling its foray into the lucrative video game sector—a move that is poised to redefine the boundaries of entertainment convergence.</p><p>A surprising announcement by Netflix detailed its decision to discontinue reporting paid quarterly membership and revenue per subscriber starting Q1 2025. This strategic pivot aims to shift investor focus towards long-term trends rather than short-term fluctuations influenced by transient factors like programming changes and economic volatility.</p><p>While tech titans like Apple and Amazon maintain secrecy around their streaming subscriber figures, Netflix's transparent approach sets it apart in an industry where data privacy often trumps transparency.</p><p>Shares of Netflix have exhibited extraordinary resilience, delivering a robust 25.4% YTD return that eclipses the performance of industry stalwarts like Apple, Amazon, and Disney.</p><h3>Unveiling Netflix's Segmental Revenue Landscape</h3><p>Breaking down its regional revenue streams, Netflix's United States and Canada segment boasted revenues of $4.22 billion, representing a commendable 17.1% year-over-year increase and accounting for 45.1% of total revenues. The ARPU in this segment rose by 6.9% from the prior year.</p><p>The European, Middle Eastern, and African market witnessed revenues of $2.95 billion, marking a 17.5% annual upsurge and contributing 31.6% to the company's overall revenues.</p><p>In the Latin American region, revenues amounted to $1.16 billion, with an 8.9% year-over-year increase and a subscriber base of 47.72 million.</p><p>The Asia Pacific segment recorded revenues of $1.02 billion, showing a strong 9.6% growth, underscoring the company's burgeoning presence and subscriber base in this lucrative market.</p></body></html><html> <head> <title>Netflix's Financial Report for Q1 2024</title> </head> <body> Netflix's Financial Performance Shines with Steady Growth

Leading the Charge: Victoria’s Secret & Co. Price

Victoria’s Secret’s dazzling 31.1% ascent in shares over the last three months soars above the S&P 500’s meager 0.9% gain. With a Momentum Score of B, Victoria’s Secret & Co. radiates promise and potential.

For a more comprehensive list of top-ranked stocks, dive into the full list here.

Curious about the Momentum score and its inner workings? Explore to unravel the mysteries behind the trading game.

7 Elite Stocks on the Horizon

A breed apart: experts decipher 7 elite stocks from the 220-strong Zacks Rank #1 Strong Buys list, earmarking them as “Most Likely for Early Price Pops.”

Since 1988, this exclusive list has outshone the market with an average yearly gain of +23.7%, leaving investors agog. Pay heed to these handpicked gems and let your investments thrive.

Time to discover them >>

Keen for the latest insights from Zacks Investment Research? Grab your piece of the action with 5 Stocks Set to Double – it’s on the house.

Dive into the Free Stock Analysis Report for Cerence Inc. (CRNC)

Unearth actionable insights with the Free Stock Analysis Report for Affirm Holdings, Inc. (AFRM)

Delve into the Free Stock Analysis Report for Victoria’s Secret & Co. (VSCO)

If you’re thirsting for more details, savor this article on Zacks.com here.

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5 Stocks Our Experts Predict Could Double In the Next Year

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