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3 monster growth stocks ready to go higher
What can you make of the standard safeguard of the market: ‘past performance cannot guarantee future returns’ Should you avoid every stock that has shown tremendous growth in recent months? Or should you ignore it and focus on the stocks that are rapidly appreciating? The smart investor follows a smart middle ground to treat stocks as individuals and evaluate them on a case-by-case basis. Past performance is no guarantee, but it can be an indication, especially constant long-term performance. But that’s just one part of the growth stock image. Investors should also look at Wall Street’s view – were analysts impressed by the stock? And besides, what does the upside potential look like? We now have a useful profile for sample growth stocks: gains from gangbusters, buy ratings from the Wall Street analyst corps, and significant gains for the coming year. Three stocks in the TipRanks database show all the signs of strong progress. Here are the details. OptimizeRx Corporation (OPRX) The ongoing health crisis has had a huge 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 healthcare environment – doctors, pharmacies, patients – at the point of care. The value of this service is evident from the huge rise in the stock in recent months: over the past 52 weeks, OPRX shares have risen by 277%. It’s not just a big share gain. Since 3Q19, the company has made an income profit every quarter. The most recent, 3Q20, had a turnover of $ 10.52 million, a record for the company. The year-on-year profit was 110%; for the first 9 months of 2020, the company’s revenue was $ 26.9 million – another record and 56% higher than in the same period in 2019. By other standards, OptimizeRx reported at the end of the third quarter that it was $ 12 million cash on hand. that it entered into two additional business agreements during the quarter, bringing the total value of annual recurring revenue to $ 21 million. Rick Baldry, an analyst at Roth Capital, is impressed with the rapid growth of OprimizeRx and is not ashamed to say it. “As the RFP pipeline has doubled in 3Q20, we believe OPRX can accelerate organic growth to 100% by 2020 … [We] notes that OPRX’s growth in RFP pipelines may not fully reflect its growth potential in 2021, as the recent announcement of the machine learning platform (and related data partnership with Komodo Health, which monitors 320 million patients annually), hides the prospect was while pursuing R&D and patents, “Baldry believes. In general, the 5-star analyst summed up:” Since we both expect the material to rise above current forecasts, OPRX is our top choice in 2021. “In Consistent with these positive comments, Baldry OPRX is considering a buy, and its $ 70 price target implies an upward potential of 77% for the next 12 months. (To view Baldry’s record, click here) Wall Street clearly agrees with Baldry , as evidenced by Strong Buy’s unanimous consensus rating, based on three recent analysts’ reviews, the stock is selling for $ 39.54, and their average price target of $ 53.33 indicates room for ~ 35% growth of year. (See OPRX stock analysis on TipRanks) The Lovesac Company (LOVE) Next is a furniture company known for its modular seating systems and bean bags. Lovesac offers customers an easily adjustable seat that can fit into any room, home or style – and easily adaptable to the changing mood of owners. The company was named one of the fastest growing furniture manufacturers of the past decade and reported $ 165.9 million in total revenue for fiscal 2019. Lovesac’s growing revenue was evident in the third quarter of the year, when the company reported net sales growth of 43.5% year-on-year. year, to $ 74.7 million. Net income switched from a loss of $ 6.7 million in the previous quarter to a profit of $ 2.5 million in the third quarter of this year. The gross margins improved 10% yoy to 55.3%. Those strong sales and financial performance have led to a 283% share gain over the past 52 weeks. Analyst Camilo Lyon, who deals with LOVE for BTIG, says: “LOVE is taking advantage of the current COVID-19 crisis and work from home, as consumers are shifting their purchases to home-related goods. The company has successfully shifted its resources to support online sales, and even redeployed its full-time employees to communicate online with customers through instant messaging and product demos on social media. Lyon believes that the company is making it possible for it to thrive in a post-COVID world, which models an annual revenue growth of 27% for the next two years as brand awareness grows, new customers come to the brand and new product productions give more existing customers. reasons to buy the brand. For this purpose, Lyon sets a buy rating on LOVE, while offering its price target of $ 62 room for 26% upward growth in 2021. (To view Lyon here, click here) Overall, there are 4 recent reviews on LOVE and all are Buys offering a unanimous consensus rating from the Strong Buy analyst, the share increase of LOVE pushed the share price close to the average target of $ 56.75, leaving room for 16% upside down from the current $ 48.88 trading price. (See LOVE stock analysis on TipRanks) Kirkland (KIRK)) The ongoing corona crisis has done more than just push white-collar workers into remote office and telecommuting situations. By forcing the large number of people to stay at home, the pandemic – and the government’s response – has made potential customers of household furniture watch. Lovesac, above, is not the only company that has benefited; Kirkland’s, a diversified home seller with more than 380 stores in 35 states and a vibrant online presence, is also r. Kirkland’s, like the other stocks on this list, has shown strong earnings growth and stock strengthening over the past year. The company’s most recent quarterly results for the third quarter of 2010 showed a top revenue of $ 146.6 million, just above the analyst’s forecast and slightly higher than the year-on-year. The earnings showed a stronger profit. The third-quarter quarter was 66 cents a share, much better than the 53-cent loss in the third quarter. Equity valuation has made this profit, to say the least, parallel. KIRK has risen 1500% over the past twelve months, a huge profit that reflects the company’s success in adapting to the growing importance of online sales. The strong growth here has attracted the attention of Jeremy Hamblin, analyst at Craig-Hallum. ‘[Kirkland’s] continues on all cylinders … Although the company is likely to benefit from some winds in the industry, it is clear that strategic initiatives to improve margins have sustainability, while investing in an improved e-commerce platform (50% higher in the third quarter) should help compensate for the closure of stores … we … note that KIRK generally has a stronger balance sheet with a better FCF return (middle teens) than its peer group, ‘Hamblin wrote . As a result, Hamblin KIRK shares rated a buy and set a price target of $ 32, which represents an upward one of 65% of the $ 19.38 share price. (Click here to view Hamblin’s record.) Some stocks are flying under the radar, and KIRK is one of them. Hamblin’s is the only recent reviewer of these analysts, and it’s definitely positive. (See KIRK stock analysis on TipRanks) Visit TipRanks ‘best-selling stocks, a newly launched tool that unites all of TipRanks’ equity insights, to trade good ideas for growth stocks at attractive valuations. Disclaimer: The opinions expressed in this article are solely those of the analysts. The content is for informational purposes only. It is very important to do your own analysis before investing.