Momentum Stocks to Watch - November 17, 2023

Investors seeking to capitalize on market trends might look closely at shares demonstrating strong momentum. As of November 17, 2023, a select group of stocks have been identified for their vigorous performance, landing a coveted spot on the Zacks Rank #1 (Strong Buy) list. Analysts acknowledge these stocks based on their upward trend in earnings estimates, reflecting the potential for continued price movement.

Highlighting Top Momentum Stocks

Among the highlighted stocks are CLBT, FINW, and PGR, each offering distinct contributions to the momentum investing scene. CLBT, also known as Cellebrite DI Ltd., has been gaining attention as a provider of digital intelligence solutions for multiple sectors globally, all from its base in Petah Tikva, Israel. The company's technology plays a critical role in evidence collection and digital analyses, a domain becoming increasingly relevant in today's interconnected world.

Turning the focus to the financial services sector, FINW or FinWise Bancorp stands out. Operating under the banking holding company banner for FinWise Bank, the Utah-based entity offers a suite of banking services catering to both individual and corporate clients. FINW's performance has garnered investors' interest, propelling it to the Strong Buy list.

Lastly, there is PGR, better known as The Progressive Corporation. As one of the largest American insurance companies specializing in auto insurance, PGR has also extended its reach to cover a wide range of vehicles and properties. The firm's expansive portfolio and consistent growth in the insurance space make it an attractive option for momentum investors.

Investing in Momentum

Momentum investing is all about following the trajectory of securities that have the potential to climb further up due to their current and past price movements. The presence of CLBT, FINW, and PGR on the Zacks Rank #1 (Strong Buy) list serves as a testament to their strong earnings outlook and market performance, suggesting a promising direction for investment.

FINW, PGR, CLBT