Momentum investing is essentially the opposite of the tried-and-true Wall Street adage: “Buy low and sell high.” Investors who follow this style of investing typically avoid betting on cheap stocks and waiting a long time for them to recover. Instead, they believe that much more money can be made in a shorter period of time by “buying high and selling even higher.”

Who doesn’t like to invest in fast-moving trend stocks? But determining the right time to enter is not easy. Often these stocks lose momentum when their valuation exceeds their future growth potential. In such a situation, investors have expensive stocks in their hands that offer little or no upside or even downside potential. Therefore, it can sometimes be risky to bet fully on momentum.

It might be safer to invest in bargain stocks that have seen their price momentum increase recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which closely monitors a stock’s price or earnings trends, is quite useful for identifying great momentum stocks, our Fast Momentum Stocks at Bargain Prices screen is handy for spotting fast-moving stocks that are still attractively valued.

There are several stocks that are currently running through the filter and Enova International (ENVA) is one of them. Here are the top reasons why this stock is a great candidate.

The growing interest of investors in a stock is reflected in its recent price increase. A price change of 9.4% in the last four weeks positions the stock of this online financial services provider well in this regard.

While any stock can see a short-term price increase, it takes a true momentum player to deliver positive returns over a longer period of time. ENVA also meets this criteria, as the stock has gained 35.1% over the past 12 weeks.

Furthermore, momentum is high for ENVA as the stock currently has a beta of 1.45, meaning the stock has a 45% upside potential in either direction compared to the market.

Given this price action, it is no surprise that ENVA has a Momentum Score of B, indicating that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.

In addition to a favorable Momentum Score, an uptrend in earnings estimate revisions has helped ENVA earn a Zacks Rank #2 (Buy). Our research shows that the momentum effect is quite strong at Zacks Ranks #1 and #2. This is because when analysts increase their earnings estimates for a stock, more investors show interest in it and its price race can keep up. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

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Most importantly, despite its rapid momentum, ENVA is trading at a reasonable price. Based on the price-to-sales ratio, which is considered one of the best valuation metrics, the stock currently looks quite cheap. ENVA is currently trading at 0.91 times its sales. In other words, investors only have to pay 91 cents for every dollar of sales.

So ENVA seems to have plenty of room to develop, and at a rapid pace.

Besides ENVA, there are several other stocks that currently pass through our Rapid Momentum at a Bargain Price filter. You may consider investing in these and look for the latest stocks that meet these criteria.

This isn’t the only screen that can help you find your next winning stock pick. Based on your personal investing style, you can choose from over 45 Zacks Premium screens that are strategically designed to beat the market.

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Enova International, Inc. (ENVA): Free Stock Analysis Report

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