Here's Why TD SYNNEX (SNX) is a Strong Momentum Stock

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

TD SYNNEX (SNX)

Fremont, CA-based TD SYNNEX is a leading global IT distributor and solutions aggregator, providing a comprehensive range of technology distribution, logistics and integration services. The company was originally known as SYNNEX Corporation before rebranding as TD SYNNEX in September 2021, following its merger with Tech Data Corporation, a move that significantly expanded its global reach and vendor partnerships.

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SNX is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 9.9% over the past one week and up 12.3% over the past four weeks. SNX has gained 18.6% in the last one-year period as well. Looking at trading volume, an average of 869,354 shares exchanged hands over the last 20 trading days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2025. The Zacks Consensus Estimate has increased $0.12 to $11.95 per share. SNX boasts an average earnings surprise of 3%.

Investors should take the time to consider SNX for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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TD SYNNEX Corporation (SNX) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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