Rep. Mark Green, R-Tenn., on the new coronavirus strain found in the U.K. and why he condemns the latest stimulus bill.
Rep. Mark Green, R-Tenn., on the new coronavirus strain found in the U.K. and why he condemns the latest stimulus bill.
What can you make of the market’s standard disclaimer, ‘past performance cannot guarantee future returns.' Should you avoid every stock that has shown enormous growth in recent months? Or should you ignore it, and focus on the fast-appreciating equities? The savvy investor takes a smart middle path, treating stocks as individuals and evaluating them case by case. Past performance is no guarantee, but it can be an indicator, especially consistent, long-term performance. But that is only one part of the growth stock picture. Investors should also look for Wall Street’s view – are the analysts impressed by the stock? And in addition to that, how does the upside potential look like? Now we have useful profile for monster growth stocks: gangbusters gains, Buy ratings from the Wall Street analyst corps, and considerable upside for the coming year. Three stocks in the TipRanks database are flagging all those signs of strong forward growth. Here are the details. OptimizeRx Corporation (OPRX) The ongoing health crisis has had a heady impact on our digital world, accelerating the move to put records and information online. OptimizeRx operates a digital platform that facilitates communication between the various branches of the health care environment – doctors, pharmacies, patients – at the point of care. The value of this service is clear from the stock’s massive gains in recent months: over the past 52 weeks, OPRX shares are up 277%. It’s not just share gains that are high. Since 3Q19, the company has reported top-line revenue gains in every quarter. The most recent, 3Q20, saw revenues of $10.52 million, a record for the company. The year-over-year gain was 110%; for the first 9 months of 2020, the company’s revenues were $26.9 million – another record, and up 56% from the same period in 2019. In other metrics, OptimizeRx reported having $12 million in cash on hand at the end of Q3, and reported that it had closed two additional enterprise deals in the quarter, bringing the total value of annualized recurring revenue to $21 million. Roth Capital analyst Rick Baldry is impressed by OprimizeRx’s rapid growth, and is not shy about saying so. “Given its RFP pipeline doubled yr/yr in 3Q20, we believe OPRX could accelerate organic growth to 100% in 2020… [We] note that OPRX's RFP pipeline growth may not fully reflect its growth potential in 2021 given its recent machine-learning platform extension announcement (and related data partnership with Komodo Health which tracks 320M patients annually) was hidden from prospects while R&D and patents were pursued," Baldry opined. Overall, the 5-star analyst summed up, "Given we expect both material upside to current forecasts, OPRX is our 2021 Top Pick.” In line with these bullish comments, Baldry rates OPRX a Buy, and his $70 price target implies an upside potential of 77% for the next 12 months. (To watch Baldry’s track record, click here) Wall Street clearly agrees with Baldry, as shown by the unanimous Strong Buy consensus rating, based on 3 recent analyst reviews. The shares are selling for $39.54, and their $53.33 average price target suggests room for ~35% growth this year. (See OPRX stock analysis on TipRanks) The Lovesac Company (LOVE) Next up is a furniture company, known for its modular seating systems and beanbag seats. Lovesac offers customers an easily customizable seating arrangement capable of fitting any room, home, or style – and easily adaptable to owners’ changing moods. The company has been named one of the fasted growing furniture makers of the past decade, and reported $165.9 million in total revenue for fiscal 2019. Lovesac’s growing revenues were clear in 3Q20, when the company reported net sales growth of 43.5% year-over-year, to $74.7 million. Net income switched from a $6.7 million loss in the year-ago quarter to a $2.5 million profit in this year’s Q3. Gross margins improved 10% yoy to 55.3%. That strong sales and financial performance drove a share appreciation of 283% over the past 52 weeks. Covering LOVE for BTIG, analyst Camilo Lyon says, “LOVE is leveraging the current COVID-19 crisis and the work from home environment as consumers shift their purchases to home-related goods. The company has successfully shifted its resources to support online sales, even redeploying its full-time associates to interacting with customers online through instant messaging and product demos on social media.” Lyon believes the company’s moves are successfully positioning it to thrive in a post-COVID world, modeling "27% annual revenue growth for the next two years as brand awareness grows, new customers come to the brand, and new product introductions give existing customers more reasons to shop the brand.” To this end, Lyon puts a Buy rating on LOVE, while his $62 price target implies room for 26% upside growth in 2021. (To watch Lyon’s track record, click here) Overall, there are 4 recent reviews on LOVE and all are Buys, making for a unanimous Strong Buy analyst consensus rating. LOVE's share appreciation has pushed the stock price close to the $56.75 average target, leaving room for 16% upside from the $48.88 current trading price. (See LOVE stock analysis on TipRanks) Kirkland’s (KIRK) The ongoing corona crisis has done more than just push white-collar workers into remote office and telecommuting situations. By forcing large numbers of people to stay home, the pandemic – and the government response – has made potential home furnishings customers take a long look at their living quarters. Lovesac, above, is not the only company that has benefitted; Kirkland’s, a diversified home décor and furnishings retailer with over 380 stores in 35 states plus a vigorous online presence, is another. Kirkland’s, like the other stocks on this list, has shown strong earnings growth and share appreciation in the past year. The company’s most recent quarterly results, for 3Q20, revealed top-line revenue of $146.6 million, just over the analyst forecast and up slightly year-over-year. Earnings showed a stronger gain. Q3 EPS was 66 cents per share, far better than the 53-cent loss recorded in 3Q19. Share appreciation has paralleled these gains, to say the least. KIRK is up a whopping 1500% in the past 12 months, an enormous gain that reflects the company’s success in adapting to the increased importance of online sales. The strong growth here has attracted notice from Craig-Hallum analyst Jeremy Hamblin. “[Kirkland’s] continues to fire on all cylinders… While the company is likely benefitting from some industry tailwinds, it’s clear that strategic initiatives to improve margins have sustainability while investments in an improved E-commerce platform (up 50% in Q3) should help offset store closures… we … note that KIRK generally has a stronger balance sheet with a better FCF yield (mid-teens) than its peer group,” Hamblin wrote. Accordingly, Hamblin rates KIRK stock a Buy and sets a $32 price target, implying a one-year upside of 65% from the share price of $19.38. (To watch Hamblin’s track record, click here) Some stocks fly under the radar, and KIRK is one of those. Hamblin's is the only recent analyst review of this company, and it is decidedly positive. (See KIRK stock analysis on TipRanks) To find good ideas for growth stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
To this end, The Boston Consulting Group (BCG) and Fortune magazine created the Fortune Future 50, "the global companies with the best prospects for future growth." The top five names on Fortune Future 50's list include ServiceNow (NOW), Veeva Systems (VEEV), Atlassian (TEAM), Workday (WDAY), and Splunk (SPLK). ServiceNow is an enterprise software company, focusing on digital workflows.
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Investors who owned stocks since 2016 generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return in the past five years is 120.4%. But there's no question some big-name stocks performed better than others along the way.Bank of America's Big Run: One market leader of the past five years was Bank of America Corp (NYSE: BAC).Big banks were crushed during the worst of the financial crisis in 2008 and 2009. Among the banks that survived the crisis, Bank of America was one of the hardest-hit. In fact, Bank of America shares dropped as low as $2.53 in early 2009 as investors questioned whether the company could avoid bankruptcy or total nationalization.By the beginning of 2016, Bank of America shares had worked their way all the way back up to around $16.45. Within months, the stock hit its low point of the past five years, dropping down to $10.99 following a bout of early-2016 volatility related to concerns over an economic slowdown in China.Bank of America then went on a tear for the remainder of 2016, more than doubling off its lows to around $23 by the end of the year. The stock made it to $33.05 by early 2018 before stalling out for roughly a year and a half.Related Link: Here's How Much Investing ,000 In JPMorgan Stock 5 Years Ago Would Be Worth TodayBank of America In 2021, Beyond: Bank of America shares broke out to the upside again in the closing months of 2019, surging to new highs of $35.72 before the COVID-19 sell-off pushed the stock back down to $17.95 in early 2020.Since then, Bank of America shares have regained nearly all of their lost ground and are currently trading at around $33.Bank of America investors who held on through a volatile few years were rewarded for their patience, and $1,000 worth of Bank of America stock bought in 2016 would be worth about $2,518 today, assuming reinvested dividends.Looking ahead, analysts expect Bank of America to take a breather in the next 12 months. The average price target among the 24 analysts covering the stock is $33.50, suggesting only 1.5% upside from current levels.Photo credit: Mike Mozart, FlickrSee more from Benzinga * Click here for options trades from Benzinga * Here's How Americans Are Spending Their Stimulus Payments * 5 Key Questions About The Federal Reserve's Approach In 2021(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- The Canadian province that invested $1.1 billion of taxpayers’ money in the controversial Keystone XL project is now considering the sale of pipe and materials to try to recoup some funds.“If the project ends, there would be assets that could be sold, such as enormous quantities of pipe,” Alberta Premier Jason Kenney said in a press conference Monday. “That would offset construction costs.”With Joe Biden set to be sworn in this week, the U.S. president-elect’s campaign promise to cancel the crude pipeline’s license is haunting the Canadian oil sands industry. The decision may come via executive action on his first day in office, CBC News reported on Sunday, citing people it didn’t identify.Meanwhile, the government of Justin Trudeau vowed to defend the project.Alberta, home to the world’s third-largest crude reserves, has struggled for years with a lack of pipeline capacity to ship its crude to the U.S. Gulf Coast and other markets. TC Energy Corp.’s Keystone XL was one of the possible pipelines the industry was counting on to solve that.The cancellation of Keystone XL would cost Alberta taxpayers just over C$1 billion ($785 million), Kenney said.In March, Kenney’s government agreed to fund the first year of construction with a $1.1 billion investment and to guarantee $4.2 billion of loans as a way to jump-start construction.The province and TC Energy have a “solid legal basis” to recoup damages through the courts, Kenney also said.Canadian Energy Minister Seamus O’Regan said the federal government continues to support Keystone XL and will make the case for the project to the Biden administration.“Canadian oil is produced under strong environmental and climate policy frameworks, and this project will not only strengthen the vital Canada-U.S. energy relationship, but create thousands of good jobs for workers on both sides of the border,” said O’Regan in an email.Kenney stressed that the federal government had said the pipeline is the “the top priority” of Canada’s relationship with the U.S.“Sit down and review the many facts that have changed since KXL was proposed a decade ago,” Kenney said, citing reduced carbon emissions from the oil sands, labor agreements and an indigenous stake in the pipeline.More than a decade old, the Keystone XL project was first rejected by former-President Barack Obama due to concern about climate change, but his successor Donald Trump issued a new permit when he took office.The Canadian Association of Petroleum Producers said that canceling the project would kill thousands of jobs and offered to work with stakeholders to find a solution to complete the pipeline.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Wall Street may be facing an uncomfortable four years after President-elect Joe Biden's team confirmed on Monday it planned to nominate two consumer champions to lead top financial agencies, signaling a tougher stance on the industry than many had anticipated. Gary Gensler will serve as chair of the Securities and Exchange Commission (SEC) and Federal Trade Commission member Rohit Chopra will head the Consumer Financial Protection Bureau (CFPB). Progressives see the agencies as critical to advancing policy priorities on climate change and social justice.
In a note on U.S. internet and interactive entertainment stocks, UBS downgraded Peloton Interactive , Fiverr International and Chewy to sell from neutral. Analysts led by Eric Sheridan said the three stocks are "emblematic of a market that values growth over any semblance of valuation that can be justified on a multiple year view based on our fundamental analysis." Take-Two Interactive Software was downgraded to neutral from buy.
Prices already reflect a wallop of government spending and central-bank aid that can’t get much larger from here, Bank of America warns. Other market watchers are downbeat as well.
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Bank of America joined its Wall Street banking rivals in releasing previous reserves following its fourth quarter earnings, and pledged to buyback $2.9 billion in shares over the first three months of this year.
Xpeng Inc (NYSE: XPEV) has unveiled a new beta autonomous driving solution, which will help its flagship P7 sedan compete with similar offerings from Tesla Inc (NASDAQ: TSLA), CNBC reported Monday.What Happened: The new feature -- called the Navigation Guided Pilot (NGP) -- is a part of the company's XPILOT 3.0 autonomous driving package, the company said in a statement. Xpeng said that the NGP function is expected to be released to customers in China in the next few weeks.The Guangzhou, China-based automaker said on its launch the feature would be implemented in the Premium version of the P7 with the "XPILOT 3.0" system."[NGPs] full-scenario high-definition positioning capability solves HD-map positioning challenges for China's highly complex road conditions, including areas with no GPS signals," said Xpeng.Why It Matters: NGP will allow the P7 to automatically change lanes, change speed or overtake other vehicles and enter or exit highways, according to CNBC. Xpeng's NGP provides features similar to Tesla's "Navigate on Autopilot," the publication noted.Tesla CEO Elon Musk said last month that its own full-self driving software would get "absurdly good" in the future.See Also: Tesla Rolls Out Full Self-Driving Beta Version, With A 'Slow' And 'Cautious' ApproachXpeng deliveries rose 266% in the third quarter on a year-on-year basis as the company delivered 8,578 units in that period. Rival Nio Inc (NYSE: NIO) delivered 18.15% more vehicles on a quarter-over-quarter basis in Q3, while Li Auto Inc (NASDAQ: LI) deliveries surged 31.13% in the same period.Price Action: Xpeng shares closed 4.95% lower at $47.82 on Friday. On the same day, Tesla shares closed almost 2.2% lower at $826.16 and fell nearly 0.3% in the after-hours session.Related Link: Nio Day 2020: EV Maker Shows Off ET7 Sedan, New Power Swap Station, 150kWh Battery Pack, ADaaS And MoreClick here to check out Benzinga's EV Hub for the latest electric vehicles news. Photo courtesy: Jengtingchen via WikimediaSee more from Benzinga * Click here for options trades from Benzinga * Tesla Begins Model Y SUV Deliveries in China: What You Need To Know * Self-Driving Vehicles Can Now Be Made Without Steering Wheels Under New NHTSA Rules(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Stock futures pointed to a higher open Tuesday morning as traders returned from a long holiday weekend in the U.S. and eyed signs of mounting support for significant fiscal stimulus out of Washington.
Shares of Canadian cannabis company Aphria Inc. rose 4.4% in premarket trade Tuesday, after Stifel raised its stock price target to C$15.50 ($12.18) from C$9.80, and said recent results underscore the company's long-term prospects. But analysts led by W. Andrew Carter also reiterated a hold rating on the stock. While Aphria's earnings beat Stifel's estimates, they included lower Canadian adult use sales, which were tempered by stronger distribution sales and higher global medical sales, the analysts wrote in a note to clients. Still, they said they were However, we have been surprised at the stock's outperformance -- it has gained 25% after earnings, while the S&P 500 has fallen 1% -- following earnings and adding to postelection strength. "We believe the outperformance for the Canadian LPs on the prospect of U.S. federal reform has limited merit pushing valuations to unsubstantiated levels, but we believe our robust fundamental outlook alongside the growth prospects of the pending combination with Tilray Inc. are limiting factors for a more negative approach," the analysts wrote. ". But we believe the robust valuation (11X EV/FY22E net cannabis revenue) serves as an impediment for material outperformance with the stock likely to remain volatile." Cantor Fitzgerald raised its 12-month stock price target for Aphria to C$26 from C$11.75 on Friday, to factor in its merger with Tilray even though it was unimpressed by the company's quarterly earning.s Aphria shares have gained 136% in the last 12 months, while the Cannabis ETF has gained 29%.
AbbVie stock is trading close to a three-year high after the company entered into an agreement that would allow it to buy Cypris Medical, a privately held medical devices company.