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Top Stock Picks for Week of October 19, 2020

Panel Of Zacks Experts
·2 min read

United Natural Foods, Inc. UNFI, is the leading distributor of natural, organic and specialty food and non-food products in the U.S. and Canada. Shares of United Natural have outperformed the industry on a year-to-date basis. The company is gaining from rising demand stemming from coronavirus-induced higher at-home consumption. This was seen in the fourth quarter of fiscal 2020, with earnings gaining on higher sales and improved gross margin. Also, revenues were backed by robust demand, including benefits from cross selling. Moreover, management anticipates food-at-home consumption demand to remain elevated outpacing the demand for away from home services for fiscal 2021. Apart from these, integration synergies related to Supervalu is helping United Natural. Further, such upsides are likely to help the company battle additional coronavirus-induced costs like labor safety and sanitization protocol. 

eGain Corporation EGAN, provides customer engagement solutions. This stock was a big mover recently, as the company saw its shares rise. The move came on solid volume too with far more shares changing hands. This continues the recent uptrend for the company—as the stock is now up by double digits in the past one-month time frame. The company has seen two positive estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for eGain. The stock currently has a Zacks Rank of #1, Strong Buy. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road. 

Zacks’ Single Best Pick to Double

From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.

With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.

The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.

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United Natural Foods, Inc. (UNFI) : Free Stock Analysis Report
eGain Corporation (EGAN) : Free Stock Analysis Report
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Zacks Investment Research