3 Monster Growth Stocks Ready to Run Higher
What to Make of the Standard Market Disclaimer: “Past performance cannot guarantee future returns.” Should you avoid any stock that has seen tremendous growth in the past few months? Or should you ignore it and focus on the fast growing stocks? The savvy investor takes a clever middle ground, treating stocks as individuals and valuing them on a case-by-case basis. Past performance is not a guarantee, but can be an indicator, especially consistent long-term performance. However, this is only part of the growth stock picture. Investors should also look for Wall Street’s view – are analysts impressed with the stock? And what is the upside potential beyond that? Now we have a useful profile for monster growth stocks: gangbuster earnings, buy ratings from the Wall Street analyst corps, and significant upside moves for the year ahead. Three stocks in the TipRanks database indicate strong forward growth. Here are the details. OptimizeRx Corporation (OPRX) The ongoing health crisis has had a profound impact on our digital world, accelerating the move to provide records and information online. OptimizeRx operates a digital platform that facilitates communication between the various areas of the healthcare system – doctors, pharmacies, patients – at the treatment site. The value of this service stems from the stock’s massive gains over the past few months: in the past 52 weeks, OPRX shares are up 277%. It’s not just stock earnings that are high. Since the third quarter of 19, the company has seen revenue growth every quarter. Last quarter, third quarter 20, posted revenue of $ 10.52 million, a record for the company. The increase over the previous year was 110%; For the first nine months of 2020, the company’s revenue was $ 26.9 million – another record high, up 56% over the same period in 2019. In other metrics, OptimizeRx was one at the end of the third quarter $ 12 million in cash on hand, indicating that it had closed two more business closings in the quarter, bringing the total value of annualized recurring income to $ 21 million. Rick Baldry, an analyst at Roth Capital, is impressed with the rapid growth of OprimizeRx and isn’t afraid to say so. “With the RFP pipeline doubling in Q3 20 year over year, we believe OPRX could accelerate organic growth to 100% in 2020 … [We] Note that the growth of OPRX’s RFP pipeline may not fully reflect its growth potential in 2021, given the recently announced expansion of the machine learning platform (and related data partnership with Komodo Health, which records 320 million patients annually) hidden from potential customers while R&D and patents were pursued. “Baldry said: Overall, the 5-star analyst summed up:” Given that we both expect significant advantages over current forecasts, OPRX is our top pick for 2021. “In line with these bullish comments, Baldry rates OPRX with a buy, and its target price of $ 70 implies an upside potential of 77% for the next 12 months. (To see Baldry’s track record, click here.) Wall Street clearly agrees with Baldry, as did Strong Buy’s unanimous consensus rating on the Based on 3 recent analyst reviews shows, the stocks are selling for $ 39.54 and their average price target of $ 53.33 suggests ~ 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 bean bags, Lovesac offers customers an easily customizable seating arrangement that can be customized in every fits the room, every house or every style – and can be easily adapted to the changing moods of the owners. The company has been named one of the fastest growing furniture manufacturers in the past decade, with total fiscal year 2019 revenue of $ 165.9 million. Lovesac’s growing sales were evident in the third quarter of 20, when the company posted 43.5% year-over-year sales growth. Year to $ 74.7 million. Net income increased from a loss of $ 6.7 million in the year-ago quarter to a profit of $ 2.5 million for the third quarter this year. The gross margin improved by 10% to 55.3% compared to the previous year. This strong sales and financial performance resulted in the stock appreciating 283% over the past 52 weeks. Analyst Camilo Lyon reports on LOVE for BTIG: “LOVE is taking advantage of the current COVID-19 crisis and working from home when consumers shift their purchases to household goods. The company has successfully shifted its resources to helping online sales and even redeployed its full-time staff to interact with customers online through instant messaging and product demos on social media. “Lyon believes the company’s moves will successfully position it to thrive in a post-COVID world, and models” 27% annual sales growth for the next two years as brand awareness grows, new customers come to the brand and new product launches give existing customers more reasons to buy the brand. ”To this end, Lyon rates LOVE with a Buy rating, while its price target of USD 62 implies room for upward growth of 26% in 2021. (To add to Lyon’s track record See, click here) In total, there are 4 current reviews of LOVE and all of them are buys The appreciation of the LOVE share has brought the stock price close to the average target price of $ 56.75 and thus 16% more profit over the current trading price of 48 , $ 88. (See LOVE stock analysis on TipRanks) Kirkland’s (KIRK)) The ongoing corona crisis has done more than just moving employees into remote office and T work situations were pushed. By forcing large numbers of people to stay home, the pandemic – and the government’s response – has led potential home decor customers to take a long look at Lovesac (above) isn’t the only company to benefit from it. Kirkland’s, a diversified home decor and furniture retailer with over 380 stores in 35 states and a strong online presence, is another r. Kirkland’s, like the other stocks on this list, has seen strong earnings growth and stock appreciation over the past year. The company’s most recent quarterly results for the third quarter of 20 showed revenue of $ 146.6 million, just above analyst forecast and slightly year-over-year. The result showed a stronger gain. The EPS in the third quarter was 66 cents per share, well above the loss of 53 cents recorded in the third quarter of 19. Stock appreciation has accompanied those gains, to say the least. KIRK is up a whopping 1500% in the past 12 months. This is a huge win that reflects the company’s success in adapting to the growing importance of online sales. The strong growth here has caught the attention of Craig Hallum analyst Jeremy Hamblin. “[Kirkland’s] continues to shoot at all cylinders … While the company is likely to benefit from some tailwinds in the industry, it is clear that strategic initiatives to improve margins are sustainable, while investments in an improved e-commerce platform (up 50% in the third quarter) do so should help offset store closures … We … find that KIRK generally has a stronger record with better FCF return (mid-teens) than its peer group, “wrote Hamblin. Accordingly, Hamblin rates the KIRK share with a buy and sets a price target of USD 32, which means a one-year upward movement of 65% compared to the share price of USD 19.38. (To see Hamblin’s track record, click here.) Some stocks are flying under the radar, and KIRK is one of them. Hamblin’s is the only recent analyst rating for this company and it is extremely positive. (See KIRK stock analysis on TipRanks.) To find great ideas for trading growth 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 analysts presented. 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.