TipRanks
Weve turned a new page on the calendar, Old Man 20 is out the door, and theres a feeling 21 is gonna be a good year and so far, so good. The markets closed out 2020 with modest session gains to cap off larger annual gains. The S&P 500 rose 16% during the corona crisis year, while the NASDAQ, with its heavy tech representation, showed an impressive annual gain of nearly 43%. The advent of two viable COVID vaccines is fueling a surge in general optimism.Wall Streets top analysts have been casting their eye at the equity markets, finding those gems that investors should give serious consideration in this new year. These are analysts with 5-star ratings from TipRanks database, and they are pointing out the stocks with Strong Buy ratings in short, this is where investors can expect to find share growth over the next 12 months. We are talking returns of at least 70% over the next 12 months, according to the analysts. ElectraMeccanica Vehicles (SOLO)Electric vehicles, EVs, are growing more popular as consumers look for alternatives to the traditional internal combustion gasoline engine. While EVs simply move the source of combustion from under the hood to the electric power plant, they do offer real advantages for drivers: they offer greater acceleration, more torque, and they are more energy efficient, converting up to 60% of their battery energy into forward motion. These advantages, as EV technology improves, are starting to outweigh the drawbacks of shorter range and expensive battery packs.ElectraMeccanica, a small-cap manufacturer from British Columbia, is the designer and marketer of the Solo, a single-seat, three-wheel EV built for the urban commuter market. Technically, the Solo is classed as an electric motorcycle but it is fully enclosed, with a door on either side, features a trunk, air conditioning, and a Bluetooth connection, and travels up to 100 miles on a single charge at speeds up to 80 miles per hour. The recharging time is low, less than 3 hours, and the vehicle is priced at less than $20,000.Starting in Q3 2020, the company delivered its first shipment of vehicles to the US, and expanded into six additional US urban markets, including San Diego, CA and Scottsdale and Glendale, AZ. ElectraMeccanica also opened four new storefronts in the US 2 in Los Angeles, one in Scottsdale, and one in Portland, OR. In addition, the company has begun design and marketing work a fleet version of the Solo, to target the commercial fleet and car rental markets starting in the first half of this year.Craig Irwin, 5-star analyst with Roth Capital, is impressed by SOLOs possible applications to the fleet market. He writes of this opening, We believe the pandemic is a tailwind for fast food chains exploring better delivery options. Chains look to avoid third party delivery costs and balance brand identity implications of operator- vs. company-owned vehicles. The SOLO's 100-mile range, low operating cost, and std telematics make the vehicle a good fit, in our view, particularly when location data can be integrated into a chain's kitchen software. We would not be surprised if SOLO made a couple announcements with major chains after customers validate plans.Irwin puts a Buy rating on SOLO, supported by his $12.25 price target which implies a 98% upside potential for the stock in 2021. (To watch Irwins track record, click here)Speculative tech is popular on Wall Street, and ElectraMeccanica fits that bill nicely. The company has 3 recent reviews, and all are Buys, making the analyst consensus a unanimous Strong Buy. Shares are priced at $6.19 and have an average target of $9.58, making the one-year upside 55%. (See SOLO stock analysis on TipRanks)Nautilus Group (NLS)Based in Washington State, this fitness equipment manufacturer has seen a massive stock gain in 2020, as its shares rocketed by more than 900% over the course of the year, even accounting for recent dips in the stock value. Nautilus gained as the social lockdown policies took hold and gyms were shuttered in the name of stopping or slowing the spread of COVID-19. The company, which owns major home fitness brands like Bowflex, Schwinn, and the eponymous Nautilus, offered home-bound fitness buffs the equipment needed to stay in shape.The share appreciation accelerated in 2H20, after the companys revenues showed a recovery from Q1 losses due to the corona recession. In the second quarter, the top line hit $114 million, up 22% sequentially; in Q3, revenues reached $155, for a 35% sequential gain and a massive 151% year-over-year gain. Earnings were just as strong, with the Q3 $1.04 EPS profit beating coming in far above the year-ago quarters 30-cent loss.Watching this stock for Lake Street Capital is 5-star analyst Mark Smith, who is bullish on this stock. Smith is especially cognizant of the recent dip in share price, noting that the stock is now off its peak which makes it attractive to investors. Nautilus reported blowout results for 3Q:20 with strength across its portfolio We think the company has orders and backlog to drive high sales and earnings for the next several quarters and think we have seen a fundamental shift in consumers' exercise-at-home behavior. We would view the recent pull back as a buying opportunity, Smith opined.Smiths $40 price target supports his Buy rating, and indicates a robust 120% one-year upside potential. (To watch Smiths track record, click here)The unanimous Strong Buy consensus rating shows that Wall Street agrees with Smith on Nautilus potential. The stock has 4 recent reviews, and all are to Buy. Shares closed out 2020 with a price of $18.14, and the average target of $30.25 suggests the stock has room for ~67% upside growth in 2021. (See NLS stock analysis on TipRanks)KAR Auction Services (KAR)Last but not least is KAR Auction Services, a car auctioning company, which operates online and physical marketplaces to connect buyers and sellers. KAR sells to both business buyers and individual consumers, offering vehicles for a variety of uses: commercial fleets, private travel, even the second-had parts market. In 2019, the last year for which full-year numbers are available, KAR sold 3.7 million vehicles for $2.8 billion in total auction revenue.The ongoing corona crisis, with its social lockdown policies, put a damper on car travel and reduced demand for used vehicles across market segments. KAR shares slipped 13% in 2020, in a year of volatile trading. In the recent 3Q20 report, the company showed revenue of $593.6 million, down over 15% year-over-year. Third quarter earnings, however, at 23 cents per share profit, were down less, 11% yoy, and showed a strong sequential recovery from the Q2 EPS loss of 25 cents.As the new vaccines promise an end to the COVID pandemic later this year, and the lifting of lockdown and local travel restrictions, the mid- to long-term prospects for the second-hand car market and for KAR Auctions are brightening, according to Truist analyst Stephanie Benjamin.The 5-star analyst noted, Our estimates now assume that the volume recovery occurs in 2021 vs. 4Q20 under our previous estimates Overall, we believe the 3Q results reflect that KAR is well executing on the initiatives within its control, specifically improving its cost structure and transforming to a pure digital auction model.Looking further ahead, she adds, delinquencies and defaults for auto loans and leases have increased and we believe will serve as a meaningful volume tailwind in 2021 as repo activity resumes. Additionally, repo vehicles generally require ancillary services which should yield higher RPU. This supply influx should also help moderate the used pricing environment and drive dealers to fill up their lots, which remain at three-year lows from an inventory standpoint.In line with these comments, Benjamin sets a $32 price target, implying a high 71% one-year upside potential to the stock, and rates KAR as a Buy. (To watch Benjamins track record, click here)Wall Street generally is willing to speculate on KARs future, as indicated by the recent reviews, which split 5 to 1 Buy to Hold, and make the analyst consensus view a Strong Buy. KAR is selling for $18.61, and its $24.60 average price target suggests it has room to grow 32% from that level. (See KAR stock analysis on TipRanks)To find good ideas for 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.
Read the original here:
Byron Wien Says S&P 500 Will Tumble Before Rallying to 4,500 - Yahoo Finance
- S. Korea to launch $825mn fund to compete with Netflix, YouTube - Business Insider India - June 22nd, 2020 [June 22nd, 2020]
- Boomerangs and Frisbees: The effect of COVID-19 on HR trends - Thomsons Online Benefits - June 22nd, 2020 [June 22nd, 2020]
- Five key questions about Google and Apple's contact tracing system - The Telegraph - June 22nd, 2020 [June 22nd, 2020]
- The Consequences Of Shifting To A Hybrid Work Model - ABCN's Officing Today - June 22nd, 2020 [June 22nd, 2020]
- Big Tech Zeros In on the Virus-Testing Market - The New York Times - June 22nd, 2020 [June 22nd, 2020]
- From now on, we will divide history into before and after this pandemic - The Guardian - June 22nd, 2020 [June 22nd, 2020]
- Patagonia becomes latest company to pull ads from Facebook | TheHill - The Hill - June 22nd, 2020 [June 22nd, 2020]
- Andrew Yang wants people to get paid for data collected by tech giants - The Daily Dot - June 22nd, 2020 [June 22nd, 2020]
- DoF faces uphill battle in taxing tech giants The Manila Times - The Manila Times - June 22nd, 2020 [June 22nd, 2020]
- Juneteenth across the tech world - POLITICO - Politico - June 22nd, 2020 [June 22nd, 2020]
- TikTok joins the EUs Code of Practice on disinformation - TechCrunch - June 22nd, 2020 [June 22nd, 2020]
- For Health Tech Startups, Data Is Their Lifeline Now More Than Ever - Crunchbase News - June 22nd, 2020 [June 22nd, 2020]
- Apples iOS 14 will give users the option to decline app ad tracking - TechCrunch - June 22nd, 2020 [June 22nd, 2020]
- You want diversity, inclusion in tech? Embrace remote work - ZDNet - June 22nd, 2020 [June 22nd, 2020]
- Trump kept these tech giants apart now ones a buy and the other should be avoided - MarketWatch - June 22nd, 2020 [June 22nd, 2020]
- US pulls out of talks to tax tech giants in a blow to Europe's plans - CNBC - June 22nd, 2020 [June 22nd, 2020]
- European Union Seeks to Restrict Tech Giants From Grinding Smaller Competitors WIth Updated Tax and Content Ru - Tech Times - July 11th, 2020 [July 11th, 2020]
- Sequoia Capital Opens Its First Tech Incubation Center in Shanghai - Caixin Global - July 12th, 2020 [July 12th, 2020]
- Indian Govt Wants Tech Giants Google, Amazon And Facebook To Provide Source Code And Algorithms - IndianWeb2.com - July 12th, 2020 [July 12th, 2020]
- Invest NI's Bill Montgomery who helped bring top US tech giants to Northern Ireland steps down - Belfast Telegraph - July 12th, 2020 [July 12th, 2020]
- The Future of Remote Work, According to Startups - Visual Capitalist - July 12th, 2020 [July 12th, 2020]
- 10 big things: TikTok, on the clock - PitchBook News & Analysis - July 12th, 2020 [July 12th, 2020]
- Tiktok and finding the real digital imperialists - The New Indian Express - July 12th, 2020 [July 12th, 2020]
- US slaps French goods with 25% added duties, but delays effective date - Financial World - July 12th, 2020 [July 12th, 2020]
- U.S. targets $1.3-billion in French imports in retaliation for tax on tech giants - The Globe and Mail - July 12th, 2020 [July 12th, 2020]
- Kudos to TikTok, tech brethren; Starbucks & Luckin have us soured on coffee cos. - Compliance Week - July 12th, 2020 [July 12th, 2020]
- Silicon Valley giants have thousands of US military contracts - E&T Magazine - July 12th, 2020 [July 12th, 2020]
- Tech giants: From the basement to world domination - KnowTechie - July 12th, 2020 [July 12th, 2020]
- This Week's Awesome Tech Stories From Around the Web (Through July 11) - Singularity Hub - July 12th, 2020 [July 12th, 2020]
- US tech giants halt Hong Kong police help TechCrunch - July 12th, 2020 [July 12th, 2020]
- Infographic: How the Tech Giants Make Their Billions - July 12th, 2020 [July 12th, 2020]
- facebook: US tech giants face hard choices under Hong Kong ... - July 12th, 2020 [July 12th, 2020]
- FYI: You do all know that America's tech giants, even ... - July 12th, 2020 [July 12th, 2020]
- TikTok ban: Facebook, tech companies benefit from US ... - July 12th, 2020 [July 12th, 2020]
- U.S. Tech Giants Pause Responses To Hong Kong Requests ... - July 12th, 2020 [July 12th, 2020]
- IBM Q2 earnings preview: can the tech giants cloud revenue keep growing? - IG Bank - July 16th, 2020 [July 16th, 2020]
- Buying tech stocks is the most crowded trade in history. - The New York Times - July 16th, 2020 [July 16th, 2020]
- Dow Jones Slumps as Johnson & Johnson Boosts Outlook, Apple and Cisco Stocks Head Lower - Motley Fool - July 16th, 2020 [July 16th, 2020]
- IBM, Verizon team up for 5G effort aiming to accelerate business solutions - WRAL Tech Wire - July 16th, 2020 [July 16th, 2020]
- BREAKING: American Tech Giants Google-Apple Remove Palestine From World Maps, Replace With Israel - India.com - July 16th, 2020 [July 16th, 2020]
- VMware Invests With Other Tech Giants In Digital Assets Series C Round - Forbes - July 16th, 2020 [July 16th, 2020]
- U.S. tariff threat isn't swaying France on taxing tech giants - Accounting Today - July 16th, 2020 [July 16th, 2020]
- Trio of Tech Giants the Latest on Receiving End of BIPA Lawsuits - findBIOMETRICS - July 18th, 2020 [July 18th, 2020]
- G Suite's new unified interface poses an existential threat to Zoom and Slack - Business Insider - July 19th, 2020 [July 19th, 2020]
- India's Jio creates 5G tech in-house, teams with Google on affordable smartphone - FierceWireless - July 19th, 2020 [July 19th, 2020]
- The Twitter Hacks Have to Stop - The Atlantic - July 19th, 2020 [July 19th, 2020]
- Tech giants this country needs YOU! Do your moral duty and stop avoiding tax to help save our economy - The Sun - July 19th, 2020 [July 19th, 2020]
- Apple expands coding partnership with Black schools as tech firms grapple with lack of diversity - USA TODAY - July 19th, 2020 [July 19th, 2020]
- How Huawei landed at the center of global tech tussle - Chicago Daily Herald - July 19th, 2020 [July 19th, 2020]
- Kamala Harris blamed for EVERYTHING as Internet mocks news report 'exposing' her ties to tech giants - MEAWW - July 19th, 2020 [July 19th, 2020]
- Wall Street delivered the 'kind of pullback I've been waiting for,' Jim Cramer says - CNBC - July 19th, 2020 [July 19th, 2020]
- American tech giants Google-Apple remove Palestine from world maps, replace with Israel - Daily Times - July 19th, 2020 [July 19th, 2020]
- Chinese tech giants have tens of billions at stake in India - TechNode - July 19th, 2020 [July 19th, 2020]
- The Streaming Wars Could Become a Battle of Tech Giants. Heres Why. - Barron's - July 19th, 2020 [July 19th, 2020]
- Advertising giants agree to evaluate mutual definition of hate speech - Axios - July 21st, 2020 [July 21st, 2020]
- MPs say tech giants have 'failed to tackle' Covid-19 infodemic and Government must regulate them now - Press Gazette - July 21st, 2020 [July 21st, 2020]
- US Tech Giants trying to survive the Chinese Market - Market Capitalize - July 21st, 2020 [July 21st, 2020]
- China's aggression is undermining its tech giants' global ambitions - Nikkei Asian Review - July 21st, 2020 [July 21st, 2020]
- With Just $130K In Funding, Indias Nimo Planet Is Looking To Challenge Tech Giants With Its Smart Glasses - Inc42 Media - July 21st, 2020 [July 21st, 2020]
- Coronavirus scams (back) in the spotlight - POLITICO - Politico - July 21st, 2020 [July 21st, 2020]
- The background to EU citizens' court win over US tech giants - The Guardian - July 21st, 2020 [July 21st, 2020]
- Heres why BlackRocks bond chief says hes bullish on highflying tech stocks - MarketWatch - July 23rd, 2020 [July 23rd, 2020]
- How buyouts by big tech stifle innovation - Livemint - July 23rd, 2020 [July 23rd, 2020]
- Apple digs in over its App Store fees - BBC News - July 23rd, 2020 [July 23rd, 2020]
- How Spotify and TikTok Beat Their Copycats - Harvard Business Review - July 23rd, 2020 [July 23rd, 2020]
- What does the pandemic mean for the smart city revolution? - TechHQ - July 23rd, 2020 [July 23rd, 2020]
- Cramer says moves in tech stocks are 'truly insane' as Amazon and Tesla climb - CNBC - July 23rd, 2020 [July 23rd, 2020]
- Google has a plan to lure shoppers away from Amazon - CNET - July 23rd, 2020 [July 23rd, 2020]
- Could the pandemic affect our perspective on smart cities? - Tech Wire Asia - July 23rd, 2020 [July 23rd, 2020]
- 11 China-based Suppliers of US Tech Giants Sanctioned Over Alleged Human Rights Abuses vs the Uighur - Tech Times - July 23rd, 2020 [July 23rd, 2020]
- Apple, Google and Sony will be critical to MLB season shortened by coronavirus - CNBC - July 23rd, 2020 [July 23rd, 2020]
- Meet Gaia X Europe's answer to the power of U.S. and Chinese cloud giants - CNBC - July 23rd, 2020 [July 23rd, 2020]
- 5G takes the Senate stage - Politico - July 23rd, 2020 [July 23rd, 2020]
- Typewise taps $1M to build an offline next word prediction engine - TechCrunch - July 23rd, 2020 [July 23rd, 2020]
- Stocks fall to session low, with Dow the dropping 250 points as tech falters - CNBC - July 23rd, 2020 [July 23rd, 2020]
- These 5 tech giants could buy VMware if Dell chooses to sell the software giant, according to analysts: 'VMware would be a valuable property to any... - July 23rd, 2020 [July 23rd, 2020]
- US Congress to question heads of tech giants on Wednesday - Yahoo News - July 25th, 2020 [July 25th, 2020]
- China's newest technology stock exchange is thriving despite the pandemic - The Economist - July 26th, 2020 [July 26th, 2020]
- Tech CEO hearing will probably be postponed, sources say - CNBC - July 26th, 2020 [July 26th, 2020]
- Zuckerberg, Bezos, other tech CEOs to testify on competition - WBIR.com - July 26th, 2020 [July 26th, 2020]