Image Source: Zacks Investment ResearchIn addition, all three sport a favorable Zacks Rank, reflecting positive earnings estimate revisions. For those who like to tap into momentum, let’s take a closer look at each.CoinbaseCoinbase, a current Zacks Rank #2 (Buy), is the largest U.S. cryptocurrency exchange, trading many different digital assets. The company’s outlook has improved in a big way across all timeframes.
Image Source: Zacks Investment ResearchBetter-than-expected quarterly results helped launch shares on their upward trajectory, with COIN exceeding the Zacks Consensus EPS Estimate by 98% and posting a 2% revenue surprise in its latest release. There were several positives in the release, including the company receiving new licenses that will allow it to tap into new markets.Affirm HoldingsAffirm is a financial technology company offering a buy now, pay later service for online and in-store purchases. The stock is a Zacks Rank #2 (Buy), with the revisions trend particularly strong for its current fiscal year, up more than 100% over the last year.
Image Source: Zacks Investment ResearchThe company’s growth profile is hard to ignore, with consensus expectations for its current year suggesting 110% earnings growth on nearly 30% higher sales. Peeking ahead to FY25, consensus estimates suggest a further 130% earnings growth paired with a 20% revenue bump.Affirm’s revenue growth has been visibly strong, further illustrated below.
Image Source: Zacks Investment ResearchInstalled Building ProductsInstalled Building Products serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Like AFRM, the revisions trend has been notably bullish for its current fiscal year, up nearly 40% over the last year.
Image Source: Zacks Investment ResearchInvestors also stand to reap a passive income, with IBP shares currently yielding 0.7% annually. While the yield may be on the lower end, the company’s 4.6% five-year annualized dividend growth rate reflects a commitment to increasingly rewarding shareholders.Bottom LineStocks have continued their winning ways over the last several weeks, helping us cap off a remarkable year.And as of late, several stocks – Coinbase, Affirm Holdings, and Installed Building Products – have stolen the show, delivering market-beating gains throughout December.In addition, all three are currently enjoying positive earnings estimate revisions, providing the fuel needed to continue climbing in the near term.More By This Author:Top Stock Picks For Week Of December 25, 2023 Bull of the Day: Shopify (SHOP)Is It Time To Buy Social Media Stocks Going Into 2024?
