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Stocks are looking to end 2023 on a high note, with green widespread over the last several weeks. The recent strength is undoubtedly encouraging, leaving investors hopeful that the positive price action will spill over as we turn the calendar.

Throughout December, many stocks have stolen the show, including Coinbase (COIN), Affirm Holdings (AFRM), and Installed Building Products (IBP). All three displayed significant relative strength throughout the period, as we can see illustrated below.

Image Source: Zacks Investment Research

In 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.

Coinbase

Coinbase, 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 Research

Better-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 Holdings

Affirm 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 Research

The 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 Research

Installed Building Products

Installed 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 Research

Investors 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 Line

Stocks 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.

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