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3 monster growth stocks that could weather the volatility
Volatility is back on the menu. Last week trading ended in January, the worst month on the stock market since October. The GameStop saga hit the headlines when the retail buying frenzy for high-short-interest names increased the possibility of the market displaying bubble behavior. Add to the mix the slow roll-out of Covid-19 vaccines and the fear of a delayed return to normal and again, uncertainty engulfs 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 track record. Yes, past performance is not a guarantee of future returns, but a history of stock price growth is a good indicator. After all, growth stocks grow for a reason. We used the TipRanks database to pull up details on three such growth stocks that have seen sustained gains over the past year – gains of 120% or more. Better yet, for investors who see a growth profile, Wall Street analysts see further growth ahead. Hyrecar, Inc. (HYRE) The gig economy has exploded in recent years, connecting people with skills with people with needs. Hyrecar fills a void for car-free drivers, connecting car owners with idle vehicles with gig drivers (think Uber and Lyft) who need a vehicle. The Hyrecar service allows drivers to rent time in these vehicles and make money on their transportation or delivery routes, while the owner of the car earns passive income from the rental fee. Hyrecar works on the peer-to-peer model and is available to subscribers as an online platform or mobile app. For the past 12 months, the company’s shares have been booming. HYRE is up 228% over this period and is particularly high as the economies opened in the second half of 20. To illustrate the company’s bottom line, revenue increased from $ 3.7 million in third quarter 19 to $ 6.8 million in third quarter 20 (the most recent quarter of the report), an increase of 83% year over year. While Hyrecar is currently – like many technology-oriented startups – recording a net loss, that loss has eased over the course of 2020. In the third quarter of 19 earnings per share were minus 24 cents. in the third quarter of 20 this had improved to minus 10 cents. In January 2021, the company announced partnerships with AmeriDrive Holdings, an automotive fleet manager, and the Specialty Lending Unit of Cogent Bank to expand the pool of available vehicles. The expected increase in vehicle availability makes the analysts at Hyrecar appear optimistic. “New strategic partnerships between HYRE and four major players, including AmeriDrive Holdings (private) and Cogent Bank (private), aim to more than double vehicle supply on the HYRE platform over the next 12 to 18 months. We view the announcement as significant. We believe that the profit for HYRE offers a tremendous opportunity for HYRE to increase average active rent to ~ 9,000 per day from ~ 2,800 in 2021, ”said Maxim analyst Jack Vander Aarde. In line with this optimistic outlook, the 5-star analyst gives HYRE a buy rating and a price target of USD 18. At this level, his target for the coming year predicts an upward trend of 82%. (To see Vander Aarde’s track record, click here.) In the past three months, only two other analysts have thrown their hats on the car sharing service provider. The two additional purchase ratings give HYRE a strong purchase consensus rating. With an average price target of $ 15.67, investors can take home a 59% gain if the target is met in the next 12 months. (See HYRE stock analysis on TipRanks) Alpha and Omega Semiconductor (AOSL) Next, Alpha and Omega is a semiconductor manufacturer with a broad portfolio of chipsets specifically designed to meet the power control needs of advanced electronic devices. AOSL’s chips are found in a number of popular devices, including flat screen televisions, LED lighting, portable PCs, smartphones – and the power supplies for these products. In the first quarter of fiscal 21, the company had sales of $ 151.6 million, an increase of 28% year over year. The result, which was negative before the Q1 annual report, was positive with an EPS of 36 cents. The profit bodes well for the company’s performance as the pandemic crisis gradually subsides. Fiscal second quarter results will be released on Thursday, February 4th. Alpha and Omega share performance is also increasing. Over the past 12 months, the stock was up 123%. Growth like this is sure to get attention, and it has. B. Riley Securities 5-star analyst Craig Ellis noted, “The strength of the Comms YE 5G smartphone unit gives a positive bias, and we like the 2x YY growth potential of CY21 … with consumers, a healthy one follows Acceptance of the next game console. about product and design-in options. We therefore believe that the comms, compute and consumer end markets are doing reasonably well. We expect AOSL growth above the industry. “To this end, Ellis rates AOSL with a Buy and a target price of $ 40. This number implies an uptrend of ~ 40% from Current Levels. (To see Ellis’ track record, click here.) Although not many in the past 3.” Months have given an opinion on AOSL praise those who have praised it. A total of two analysts rate the semiconductor manufacturer with a buy and The average target price of 37.50 USD means an upward trend of ~ 30% for the coming year. (See AOSL- Stock Analysis on TipRanks) Lands ‘End (LE) The retail landscape has changed dramatically in the past few years, with many venerable names falling by the wayside, but some survived. Lands’ End, which was founded nearly 60 years ago, has become one Made names for quality in the apparel, footwear, and home decor niche, the company raised $ 1.45 billion for fiscal 2019, the last of the full constant numbers available. As of the 2020 numbers that have been released, it looks like Lands’ End is on its way to steady growth. In both the second and third quarters of 2020, sales growth was achieved compared to the previous year, which indicates a rapid recovery from the COVID crisis. Third quarter revenue was $ 360 million, up 5.8% over third quarter 19 – and an even more impressive 15% over second quarter 20. Meanwhile, the company has completed its Q4 Forecast corrected upwards. Revenue is expected to be between $ 528 million and $ 533 million, up 4% in the middle. The EPS is expected to be between 54 and 58 cents, which corresponds to an increase of 19% in the middle. Solid earnings in a difficult year have seen stocks appreciate sharply. The LE share has gained a hefty 126% in the past 52 weeks. On this stock for Craig-Hallum, analyst Alex Fuhrman said: “Lands’ End defied expectations in 2020 and is well positioned to grow in 2021 and beyond. The company has demonstrated its ability to work in all environments, as well as the strength of its branded e-commerce channel, which grew more than 20% year over year in the last two quarters under review. We expect ecommerce growth to continue through 2020. Growth was likely the result of market share gains from brick and mortar adversaries rather than pantry loading, while retail and uniforms channels hold the potential for significant growth ahead to have. “Unsurprisingly, Fuhrman takes a buy on the stock, and his price target of $ 35 implies growth potential of ~ 27% over the next 12 months. (To see Fuhrman’s track record, click here.) Some stocks are flying under the radar, and LE is one of them. Fuhrman’s is the only recent analyst rating for this company and it is extremely positive. (See LE Stock Analysis on TipRanks.) To find great ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.