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3 Monster Growth Stocks To Beat Volatility
Volatility is back on the menu. Last week closed January trading, which was the stock market’s worst month since October. The GameStop saga grabbed the headlines as the retail buying frenzy for names with high short interest raised the possibility of the market exhibiting bubble behavior. Add to the mix the slow rollout of Covid-19 vaccines and the fear of a late return to normalcy, and once again, uncertainty pervades Wall Street. The key to success in this environment is really the same as in “normal” times. Look for stocks with solid fundamentals and a history of success. Yes, past performance is no guarantee of future returns, but a history of stock price growth is a good indicator. After all, growth values are increasing for a reason. We used the TipRanks database to get the details of three of these growth stocks that have posted strong gains over the past year – gains of 120% or more. And even better, for investors seeing a pattern of growth, Wall Street analysts predict continued growth to come. Hyrecar, Inc. (HYRE) The odd-job economy has exploded in recent years, connecting people with skills to people with needs. Hyrecar fills a gap for carless drivers, connecting car owners with inactive vehicles to concert drivers (think Uber and Lyft) who need a vehicle. Hyrecar service allows drivers to rent time in these vehicles, earning money through their transport or delivery routes, while the car owner earns passive income from the rental fees. Hyrecar operates on the peer-to-peer model and is available to subscribers as an online platform or mobile app. Over the past 12 months, the company’s shares have exploded. HYRE is up 228% during this period, surpassing even more as the economies opened in 2:20. To give some figures on the company’s earnings, revenue grew from $ 3.7 million in 3Q19 to $ 6.8 million in 3Q20 (last quarter reported), a year-over-year gain. by 83%. While Hyrecar is currently recording a net loss – like many tech-focused startups – that loss moderated through 2020. In 3Q19, EPS was 24 cents; in 3Q20, that had improved to less than 10 cents. In January 2021, the company announced partnerships with AmeriDrive Holdings, an automotive fleet manager, and Cogent Bank’s specialist loan unit to increase the fleet of available vehicles. The expected surge in vehicle availability has analysts optimistic about Hyrecar. “New strategic partnerships involving HYRE and four key players, including AmeriDrive Holdings (private) and Cogent Bank (private), aim to more than double the supply of vehicles on the HYRE platform over the next 12 to 18 months… We consider this announcement as a win for HYRE, which we believe creates a huge opportunity for HYRE to increase average active rentals to ~ 9,000 per day from ~ 2,800 in 2021, ”noted Maxim analyst Jack Vander Aarde. In keeping with this bullish outlook, the 5-star analyst gives HYRE a buy rating along with a price target of $ 18. At this level, its target predicts an increase of 82% in the coming year. (To see Vander Aarde’s track record, click here) In the past 3 months, only two other analysts have taken the hat off with a view of the car-sharing player. The two additional Buy ratings give HYRE a Strong Buy consensus rating. With an average price target of $ 15.67, investors are expected to earn a 59% gain, if the target is met within the next 12 months. (See HYRE stock market analysis on TipRanks) Alpha and Omega Semiconductor (AOSL) Next, Alpha and Omega, is a semiconductor manufacturer with a large portfolio of chipsets specifically designed for the power control requirements of advanced electronic devices. AOSL chips are found in a range of common devices, including flat screen TVs, LED lighting, laptops, smartphones – and power supplies for these products. In fiscal 1Q21, the company reported revenue of $ 151.6 million, a 28% year-over-year increase. Profits, which had been negative before the Q1 fiscal report, turned positive with EPS of 36 cents. The gain bodes well for the performance of the company, now that the pandemic crisis is beginning to recede. The results for the second fiscal quarter will be released on Thursday, February 4. Alpha and Omega’s market performance is also picking up, with stocks rising 123% in the past 12 months. Such growth is sure to attract attention, and it is. Craig Ellis, 5-star analyst, B. Riley Securities, noted, “The strength of the Comms YE 5G smartphone unit gives an upward bias, and we appreciate the 2x YY growth potential of CY21 … on product and design opportunities. So we think the communications, computing and consumer end-markets are doing quite well… We expect AOSL to grow faster than the industry… ”To that end, Ellis awards AOSL a purchase with a price target of $ 40. (To view Ellis’ background, click here) While not many have expressed an opinion on AOSL in the past 3 months, those who have made it sing its praises. Overall, two analysts are evaluating the semiconductor maker as a buy and the average price target of $ 37.50 implies a hike of about 30% for the coming year. (See AOSL stock market analysis on TipRanks) Lands’ End (LE) The retail landscape has changed dramatically in recent years, and many venerable names have fallen by the wayside. Some, however, have survived. Lands’ End, founded nearly 60 years ago, has built a reputation for quality in the clothing, footwear and home decor niche. The company grossed $ 1.45 billion in its 2019 fiscal year, the latest with full numbers available. From the 2020 issues that have been released, it looks like Lands’ End is on the right track for steady growth. It saw year-over-year earnings gains in Q2 and Q3 of 2020, indicating a rapid recovery in the COVID crisis. Third-quarter revenue was $ 360 million, up 5.8% from 3Q19 – and even more impressive 15% from 2Q20. Meanwhile, the company has revised its forecast for the fourth quarter upwards. Revenue is expected to be between $ 528 million and $ 533 million, up 4% at midpoint. EPS is expected to be between 54 cents and 58 cents, for a median increase of 19%. Strong earnings during a difficult year fueled strong appreciation in equities. The LE stock has gained 126% over the past 52 weeks. Covering this headline for Craig-Hallum, analyst Alex Fuhrman writes, “Lands’ End has defied expectations in 2020 and is well positioned to grow in 2021 and beyond. The company has proven its ability to run in all environments as well as the strength of its branded e-commerce channel, which has grown over 20% year-over-year over the last two reported quarters … we are considering continued growth in e-commerce, as in 2020 the growth was likely a result of market share gains from brick and mortar enemies rather than ‘pantry loading’, while retail channels and uniforms have substantial growth potential ahead. Unsurprisingly, Fuhrman is calling the stock a buy, and his price target, at $ 35, implies growth potential of around 27% over the next 12 months. (To see Fuhrman’s history, click here) Some stocks go under the radar, and LE is one of them. Fuhrman’s is the company’s only recent analyst review, and it’s decidedly positive. (See LE Stock Analysis on TipRanks) To find great ideas for stocks traded at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that brings together all the information about TipRanks stocks. 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.
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