Just Getting Started with Investing? Consider this Technology Stock as a Potential Starting Point

Just Getting Started with Investing? Consider this Technology Stock as a Potential Starting Point

For beginner investors, building a portfolio from scratch may seem like a daunting task. However, starting with stocks that have the potential to outperform the market in the next 12 months can be a successful strategy. This approach has been shown to deliver strong returns for investors looking to grow their portfolios.

One such stock that investors may want to consider is Agilent Technologies (A), a company based in Santa Clara, CA that was originally a spin-off from Hewlett-Packard. Agilent Technologies is an original equipment manufacturer (OEM) of a diverse range of test and measurement products that cater to various end markets.

A was added to the Zacks Focus List on July 11, 2017, at a price of $59.86 per share. Since then, the stock has seen an impressive increase of 146.37% to $147.48. In the last 60 days, four analysts have raised their earnings estimates for fiscal 2024, leading to an increase in the Zacks Consensus Estimate to $5.50, up $0.02. The company also has an average earnings surprise of 3.5%.

Furthermore, Agilent Technologies is expected to see a 1.1% growth in earnings for the current fiscal year. As stock prices tend to respond to earnings revisions, investing in stocks with increasing earnings estimates can be very lucrative. Stocks like A that are part of the Focus List provide investors with an opportunity to invest in companies whose future earnings estimates are likely to be raised, potentially driving price momentum.

For those looking for the latest recommendations from Zacks Investment Research, they can download the 7 Best Stocks for the Next 30 Days. This report can provide valuable insights for investors interested in companies like Agilent Technologies, Inc. (A).

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