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Penumbra, Silk Road Medical, EOG Resources, Diamondback Energy and ConocoPhillips highlighted as Zacks Bull and Bear of the Day
Read MoreHide Full Article
For Immediate Release
Chicago, IL – March 10, 2021 – Zacks Equity Research Shares of Penumbra, Inc. (PEN - Free Report) as the Bull of the Day, Silk Road Medical, Inc. (SILK - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on EOG Resources, Inc. (EOG - Free Report) , Diamondback Energy, Inc. (FANG - Free Report) and ConocoPhillips (COP - Free Report) .
Penumbra is a nearly $10 billion medical technology company specializing in minimally-invasive instruments for neurovascular and peripheral vascular diseases.
The company leverages its expertise in catheter-based technology to develop access devices for treating strokes, aneurysms, deep vein thrombosis, pulmonary embolism, and other patient events caused by blood clots.
Penumbra takes its name from the shadow-like effect in pathology and anatomy where the area surrounding an ischemic event such as thrombotic or embolic stroke can become dark. Immediately following the event, blood flow and therefore oxygen transport is reduced locally, leading to hypoxia of the cells near the location of the original insult.
I last wrote about Penumbra in early January after a product recall hit PEN shares and analyst estimates. Since it has been one of my favorite mid-cap MedTech innovators, I had this to say about the events which took shares from $270 in November down to $170 in December...
Bottom line on PEN: I still believe this is a solid company with a strong, proprietary technology platform. It seems much of the bad news has been factored into shares, but the risk is still that more safety revelations could surface as Penumbra works with the FDA to resolve issues.
An Overreaction That Rewarded PEN Bulls
The good news is that the impact of the product recall was fully discounted and analysts began taking their estimates higher again in February. Unfortunately for investors who were waiting on the sidelines for the dust to settle, the analysts were too slow in recognizing the recovery.
But steady and smart investors who, like me, also loved the technology platform were rewarded early in January, as PEN shares took off and hit all-time highs above $300 by the end of the month.
I'll recap the Nov-Dec overreaction, but first let me tell you two reasons why I love this technology and have been a frequent investor.
The Catheter Is Mightier Than the Scalpel
The first is that my father was a pilot for United Airlines and he taught me how to fly a small plane when I was fifteen years old. Then he had a mild heart attack and my instruction was halted.
More importantly, my dad was possibly the first commercial pilot to receive a catheter-based angioplasty procedure to open up an artery (circa 1980). He was able to return to service as a captain of 747 and 767 international flights for another two decades.
And I went on to earn my pilot's license at age 17, a story I just reminded my first flight instructor of, who turns 87 next month.
The second reason is that I am also an investor in Edwards Lifesciences, the maker of catheter-based heart valve replacement technology. It still amazes me how many lives have been saved by the TAVR procedure (transcatheter aortic valve replacement).
TAVR works by inserting a folded-up synthetic heart valve (often made from cow or pig heart tissue) in the end of a specialized catheter that can travel to the heart, from a small entry in the leg or chest, where it can then be deployed to open, implant and make a home to replace to the old, worn-out biology.
The technology has given thousands of elderly patients extended life without open heart surgery. What's even more amazing and wonderful about the Edwards story -- besides saving so many lives -- is that the founder Miles "Lowell" Edwards was a hydraulic pump engineer who was simply very interested in the heart (inspired by a medical issue he had as a child) and he wanted to see what could be done to help people.
Product Recall Hits PEN and Estimates
Here were my notes from the early January article...
I last wrote about PEN as the Bull of the Day in April 2020 when shares had just recovered from the Corona Crash and were back trading above $160. In August, PEN grabbed new all-time highs above $240 and then in October eclipsed $260.
But in late November and into December, PEN shares plummeted over 30% in 3 weeks. And while the reasons aren't exactly clear, two news events were swirling about: notable insider selling and a short-seller with strong accusations about alleged fraudulent research from a company co-founder.
Then on December 15, the real bombshell hit: Penumbra announced a voluntary recall of its JET 7 Xtra Flex catheters, noting that the catheter could "become susceptible to distal tip damage during use." This potential damage to the instrument could cause blood vessel damage in patients that leads to injury or even death.
By the time this news was released, most of the damage to PEN shares had already been done, with a climactic selling even on Dec 16 that took shares down below $170, for the first time since June, on heavy volume.
But digging for more answers about "who knew what and when," I found that William Blair analysts profiled a company letter to healthcare providers in July 2020 "notifying customers of an updated Xtra Flex IFU that reminds users not to inject contrast media through the aspiration catheter."
Apparently the letter followed several injuries and deaths reported in the FDA MAUDE database (~0.05% of all units shipped), associated with distal tip expansion or rupture when contrast media was injected through the catheter. This letter to providers was not part of a company press release, to the best of my knowledge.
According to the Blair analysts, since the letter was issued, there was one additional patient injury and one event involving patient death.
Analyst Reactions
Back in December, here's how analysts were throwing in the towel on PEN...
Meanwhile EPS estimates have been slashed by analysts with the 2020 consensus dropping from -13 cents to -40 cents. And the new year was taken down 33% from $1.06 to $0.71.
One of the biggest and early bulls on PEN (who originally convinced me to buy) is Wells Fargo analyst Larry Biegelsen. On Dec 16, he lowered his price target on Penumbra to $215 from $265 and shared his reactions to the company investor call in conjunction with the recall announcement.
Biegelsen felt that the news was not completely unexpected given the recent adverse events with this device and concern that physicians would continue injecting contrast through a potentially damaged instrument despite Penumbra's revised instructions, which had recommended not injecting contrast through the catheter.
Canaccord Genuity analyst William Plovanic cut his price target on Penumbra to $204 from $292 noting that the reduction reflected his reduced neurovascular revenue estimates and a significant discount to the comp group due to the heightened uncertainty in the business going forward.
Fast Forward to March
The 2021 EPS consensus has only risen to $0.81 in the last 30 days. But the 2022 projection has vaulted back 38% from $1.16 to $1.60.
This tells you all you need to know about how Q4's bad news is now "out of the picture" already for next year.
But if you wanted to see an update as analysts scramble to catch up to the good news -- and PEN shares -- here are some recent calls...
Canaccord Genuity on 2/24: PT raised to $310
Wells Fargo on 3/2: PT raised to $310
Citigroup on 3/2: PT raised to $325
The new bottom line on Penumbra: Until we have nano-bots programmed to cruise through our bodies performing med-tech miracles, the experts in catheter-based technologies will be in high demand. I would be a long-term buyer of PEN on the dips toward $250.
Disclosure: I own EW shares for the Zacks Healthcare Innovators portfolio.
Since I wrote about Penumbra for the Bull of the Day -- a prime innovator in the treatment of stroke with catheter-based technology -- I couldn't resist choosing the following Zacks #5 Rank for my Bear of the Day.
Silk Road Medical is a $1.8 billion medical device company focused on reducing the risk of stroke and its devastating impact, in particular during surgical procedures. The company has pioneered a new approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR).
TCAR is a clinically proven procedure combining surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke. Silk Road Medical is based in Sunnyvale, California.
Silk Road Medical reported quarterly results last week and announced a loss of $0.49 per share versus the Zacks Consensus Estimate of a loss of $0.30. This compares to a loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -63.33%. A quarter ago, it was expected that this medical device maker would post a loss of $0.28 per share when it actually produced a loss of $0.31, delivering a surprise of -10.71%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Silk Road Medical posted revenues of $21.13 million for the quarter ended December 2020, missing the Zacks Consensus Estimate by just 0.5%. This compares to year-ago revenues of $18.63 million. The company has topped consensus revenue estimates three times over the last four quarters.
Since that report, the 2021 EPS consensus among 5 covering analysts has dropped from a loss of 75-cents to a loss of $1.44. And next year fell from a loss of 16-cents to a loss of $1.07.
Young, Innovative and Growing Fast
While the company's science appears exciting and promising on the surface, investors are keenly focused on the growth rates. This year's consensus revenue projection is for a first breach of the $100 million mark, representing over 40% growth.
And next year is currently pegged at $144M, for a 37% advance.
This kind of sales growth -- even absent profit growth -- probably justifies the valuation as the company trades for nearly 20X forward sales estimates.
While I like Silk Road Medical's apparent expertise and growth thus far, I must admit I haven't done a lot of research here since I just discovered the company this week.
It will be a young Med-Tech company I plan to keep an eye on, especially when the estimates turn back north. The Zacks Rank will let us know.
Additional content:
3 Oil Stocks with Higher Dividend Yields than the S&P 500
With the coronavirus pandemic gradually coming under control,it is time to include energy stocks in one's portfolio as heightened optimism has spurred oil prices on a northbound journey— a trend that is likely to continue. Some of the oil explorers and producers have already raised dividends,and investors can again expect lucrative returns from energy companies since the overall business scenario is improved drastically.
Oil At Pre-Pandemic Mark
The price of West Texas Intermediate crude, which is trading above $65 per barrel (at pre-pandemic levels), has improved significantly since April 2020, when oil was in the negative territory. The momentum is likely to continue since the coronavirus vaccine rollout will possibly help the economy recover strongly this year, thereby spurring demand.
Recently, the price of oil jumped to record levels in more than a year after it was decided by OPEC+ (OPEC and its non-OPEC partners) that they will extend most of the oil output cuts till April. Thus, with favorable crude pricing scenario, the exploration and production activities will possibly ramp up. In fact, explorers and producers have been returning to shale plays as reflected in weekly rig count data of Baker Hughes.
Hopes for Lucrative Dividends
With exploration and production activities ramping up and a bright outlook for upstream businesses, energy companies are well-poised to bounce back from pandemic-lows with rooms for handsome cashflows. This, in turn, is likely to have paved the ways for upstream energy players to reward investors with lucrative dividend payments again.
Notably, one of the major exploration and production companies that recently announced dividend hikes is EOG Resources.
3 Stocks to Buy
Given the backdrop it is abundantly clear that investors pouring money in the energy space are likely to get rewarded with lucrative dividend payments. However, it would be a daunting task to pick the right company from the stock universe.
Here comes our proprietary stock screener. Based on the screening criteria the companies will either carry a Zacks Rank #1 (Strong Buy) or 2 (Buy). Additionally, the stocks are rewarding dividend yields more than S&P 500. You can see the complete list of today's Zacks #1 Rank stocks here.
EOG Resources, headquartered in Houston, TX, has premium drilling locations in all the prolific shale plays in the United States that include Delaware basin, a sub-basin of the broader Permian. The company, with a Zacks Rank of 2, has a dividend yield of 2.01%, higher than S&P 500's 1.4%. In fact, EOG Resources has been paying higher dividend yields over the past few quarters. Not only that, the firm has also witnessed upward earnings estimate revisions for 2021 in the past 30 days.
Headquartered in Midland, TX, Diamondback Energy is a pure-play Permian player with presence in more than 347,000 net acres in the Permian. The company has more than 12,300 gross horizontal locations, brightening its production outlook. Notably, the Zacks #1 Ranked stock has a dividend yield of 1.9%. It is likely to see earnings growth of 96.1% in 2021.
ConocoPhillipshas a major focus on prolific resources that include Permian, Eagle Ford and Bakken. The Zacks Rank #2 stock has a dividend yield of 2.93% and witnessed upward earnings estimate revisions for 2021 in the past 30 days.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for "stay at home" technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Penumbra, Silk Road Medical, EOG Resources, Diamondback Energy and ConocoPhillips highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – March 10, 2021 – Zacks Equity Research Shares of Penumbra, Inc. (PEN - Free Report) as the Bull of the Day, Silk Road Medical, Inc. (SILK - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on EOG Resources, Inc. (EOG - Free Report) , Diamondback Energy, Inc. (FANG - Free Report) and ConocoPhillips (COP - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
Penumbra is a nearly $10 billion medical technology company specializing in minimally-invasive instruments for neurovascular and peripheral vascular diseases.
The company leverages its expertise in catheter-based technology to develop access devices for treating strokes, aneurysms, deep vein thrombosis, pulmonary embolism, and other patient events caused by blood clots.
Penumbra takes its name from the shadow-like effect in pathology and anatomy where the area surrounding an ischemic event such as thrombotic or embolic stroke can become dark. Immediately following the event, blood flow and therefore oxygen transport is reduced locally, leading to hypoxia of the cells near the location of the original insult.
I last wrote about Penumbra in early January after a product recall hit PEN shares and analyst estimates. Since it has been one of my favorite mid-cap MedTech innovators, I had this to say about the events which took shares from $270 in November down to $170 in December...
Bottom line on PEN: I still believe this is a solid company with a strong, proprietary technology platform. It seems much of the bad news has been factored into shares, but the risk is still that more safety revelations could surface as Penumbra works with the FDA to resolve issues.
An Overreaction That Rewarded PEN Bulls
The good news is that the impact of the product recall was fully discounted and analysts began taking their estimates higher again in February. Unfortunately for investors who were waiting on the sidelines for the dust to settle, the analysts were too slow in recognizing the recovery.
But steady and smart investors who, like me, also loved the technology platform were rewarded early in January, as PEN shares took off and hit all-time highs above $300 by the end of the month.
I'll recap the Nov-Dec overreaction, but first let me tell you two reasons why I love this technology and have been a frequent investor.
The Catheter Is Mightier Than the Scalpel
The first is that my father was a pilot for United Airlines and he taught me how to fly a small plane when I was fifteen years old. Then he had a mild heart attack and my instruction was halted.
More importantly, my dad was possibly the first commercial pilot to receive a catheter-based angioplasty procedure to open up an artery (circa 1980). He was able to return to service as a captain of 747 and 767 international flights for another two decades.
And I went on to earn my pilot's license at age 17, a story I just reminded my first flight instructor of, who turns 87 next month.
The second reason is that I am also an investor in Edwards Lifesciences, the maker of catheter-based heart valve replacement technology. It still amazes me how many lives have been saved by the TAVR procedure (transcatheter aortic valve replacement).
TAVR works by inserting a folded-up synthetic heart valve (often made from cow or pig heart tissue) in the end of a specialized catheter that can travel to the heart, from a small entry in the leg or chest, where it can then be deployed to open, implant and make a home to replace to the old, worn-out biology.
The technology has given thousands of elderly patients extended life without open heart surgery. What's even more amazing and wonderful about the Edwards story -- besides saving so many lives -- is that the founder Miles "Lowell" Edwards was a hydraulic pump engineer who was simply very interested in the heart (inspired by a medical issue he had as a child) and he wanted to see what could be done to help people.
Product Recall Hits PEN and Estimates
Here were my notes from the early January article...
I last wrote about PEN as the Bull of the Day in April 2020 when shares had just recovered from the Corona Crash and were back trading above $160. In August, PEN grabbed new all-time highs above $240 and then in October eclipsed $260.
But in late November and into December, PEN shares plummeted over 30% in 3 weeks. And while the reasons aren't exactly clear, two news events were swirling about: notable insider selling and a short-seller with strong accusations about alleged fraudulent research from a company co-founder.
Then on December 15, the real bombshell hit: Penumbra announced a voluntary recall of its JET 7 Xtra Flex catheters, noting that the catheter could "become susceptible to distal tip damage during use." This potential damage to the instrument could cause blood vessel damage in patients that leads to injury or even death.
By the time this news was released, most of the damage to PEN shares had already been done, with a climactic selling even on Dec 16 that took shares down below $170, for the first time since June, on heavy volume.
But digging for more answers about "who knew what and when," I found that William Blair analysts profiled a company letter to healthcare providers in July 2020 "notifying customers of an updated Xtra Flex IFU that reminds users not to inject contrast media through the aspiration catheter."
Apparently the letter followed several injuries and deaths reported in the FDA MAUDE database (~0.05% of all units shipped), associated with distal tip expansion or rupture when contrast media was injected through the catheter. This letter to providers was not part of a company press release, to the best of my knowledge.
According to the Blair analysts, since the letter was issued, there was one additional patient injury and one event involving patient death.
Analyst Reactions
Back in December, here's how analysts were throwing in the towel on PEN...
Meanwhile EPS estimates have been slashed by analysts with the 2020 consensus dropping from -13 cents to -40 cents. And the new year was taken down 33% from $1.06 to $0.71.
One of the biggest and early bulls on PEN (who originally convinced me to buy) is Wells Fargo analyst Larry Biegelsen. On Dec 16, he lowered his price target on Penumbra to $215 from $265 and shared his reactions to the company investor call in conjunction with the recall announcement.
Biegelsen felt that the news was not completely unexpected given the recent adverse events with this device and concern that physicians would continue injecting contrast through a potentially damaged instrument despite Penumbra's revised instructions, which had recommended not injecting contrast through the catheter.
Canaccord Genuity analyst William Plovanic cut his price target on Penumbra to $204 from $292 noting that the reduction reflected his reduced neurovascular revenue estimates and a significant discount to the comp group due to the heightened uncertainty in the business going forward.
Fast Forward to March
The 2021 EPS consensus has only risen to $0.81 in the last 30 days. But the 2022 projection has vaulted back 38% from $1.16 to $1.60.
This tells you all you need to know about how Q4's bad news is now "out of the picture" already for next year.
But if you wanted to see an update as analysts scramble to catch up to the good news -- and PEN shares -- here are some recent calls...
Canaccord Genuity on 2/24: PT raised to $310
Wells Fargo on 3/2: PT raised to $310
Citigroup on 3/2: PT raised to $325
The new bottom line on Penumbra: Until we have nano-bots programmed to cruise through our bodies performing med-tech miracles, the experts in catheter-based technologies will be in high demand. I would be a long-term buyer of PEN on the dips toward $250.
Disclosure: I own EW shares for the Zacks Healthcare Innovators portfolio.
Bear of the Day:
Since I wrote about Penumbra for the Bull of the Day -- a prime innovator in the treatment of stroke with catheter-based technology -- I couldn't resist choosing the following Zacks #5 Rank for my Bear of the Day.
Silk Road Medical is a $1.8 billion medical device company focused on reducing the risk of stroke and its devastating impact, in particular during surgical procedures. The company has pioneered a new approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR).
TCAR is a clinically proven procedure combining surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke. Silk Road Medical is based in Sunnyvale, California.
Silk Road Medical reported quarterly results last week and announced a loss of $0.49 per share versus the Zacks Consensus Estimate of a loss of $0.30. This compares to a loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -63.33%. A quarter ago, it was expected that this medical device maker would post a loss of $0.28 per share when it actually produced a loss of $0.31, delivering a surprise of -10.71%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Silk Road Medical posted revenues of $21.13 million for the quarter ended December 2020, missing the Zacks Consensus Estimate by just 0.5%. This compares to year-ago revenues of $18.63 million. The company has topped consensus revenue estimates three times over the last four quarters.
Since that report, the 2021 EPS consensus among 5 covering analysts has dropped from a loss of 75-cents to a loss of $1.44. And next year fell from a loss of 16-cents to a loss of $1.07.
Young, Innovative and Growing Fast
While the company's science appears exciting and promising on the surface, investors are keenly focused on the growth rates. This year's consensus revenue projection is for a first breach of the $100 million mark, representing over 40% growth.
And next year is currently pegged at $144M, for a 37% advance.
This kind of sales growth -- even absent profit growth -- probably justifies the valuation as the company trades for nearly 20X forward sales estimates.
While I like Silk Road Medical's apparent expertise and growth thus far, I must admit I haven't done a lot of research here since I just discovered the company this week.
It will be a young Med-Tech company I plan to keep an eye on, especially when the estimates turn back north. The Zacks Rank will let us know.
Additional content:
3 Oil Stocks with Higher Dividend Yields than the S&P 500
With the coronavirus pandemic gradually coming under control,it is time to include energy stocks in one's portfolio as heightened optimism has spurred oil prices on a northbound journey— a trend that is likely to continue. Some of the oil explorers and producers have already raised dividends,and investors can again expect lucrative returns from energy companies since the overall business scenario is improved drastically.
Oil At Pre-Pandemic Mark
The price of West Texas Intermediate crude, which is trading above $65 per barrel (at pre-pandemic levels), has improved significantly since April 2020, when oil was in the negative territory. The momentum is likely to continue since the coronavirus vaccine rollout will possibly help the economy recover strongly this year, thereby spurring demand.
Recently, the price of oil jumped to record levels in more than a year after it was decided by OPEC+ (OPEC and its non-OPEC partners) that they will extend most of the oil output cuts till April. Thus, with favorable crude pricing scenario, the exploration and production activities will possibly ramp up. In fact, explorers and producers have been returning to shale plays as reflected in weekly rig count data of Baker Hughes.
Hopes for Lucrative Dividends
With exploration and production activities ramping up and a bright outlook for upstream businesses, energy companies are well-poised to bounce back from pandemic-lows with rooms for handsome cashflows. This, in turn, is likely to have paved the ways for upstream energy players to reward investors with lucrative dividend payments again.
Notably, one of the major exploration and production companies that recently announced dividend hikes is EOG Resources.
3 Stocks to Buy
Given the backdrop it is abundantly clear that investors pouring money in the energy space are likely to get rewarded with lucrative dividend payments. However, it would be a daunting task to pick the right company from the stock universe.
Here comes our proprietary stock screener. Based on the screening criteria the companies will either carry a Zacks Rank #1 (Strong Buy) or 2 (Buy). Additionally, the stocks are rewarding dividend yields more than S&P 500. You can see the complete list of today's Zacks #1 Rank stocks here.
EOG Resources, headquartered in Houston, TX, has premium drilling locations in all the prolific shale plays in the United States that include Delaware basin, a sub-basin of the broader Permian. The company, with a Zacks Rank of 2, has a dividend yield of 2.01%, higher than S&P 500's 1.4%. In fact, EOG Resources has been paying higher dividend yields over the past few quarters. Not only that, the firm has also witnessed upward earnings estimate revisions for 2021 in the past 30 days.
Headquartered in Midland, TX, Diamondback Energy is a pure-play Permian player with presence in more than 347,000 net acres in the Permian. The company has more than 12,300 gross horizontal locations, brightening its production outlook. Notably, the Zacks #1 Ranked stock has a dividend yield of 1.9%. It is likely to see earnings growth of 96.1% in 2021.
ConocoPhillipshas a major focus on prolific resources that include Permian, Eagle Ford and Bakken. The Zacks Rank #2 stock has a dividend yield of 2.93% and witnessed upward earnings estimate revisions for 2021 in the past 30 days.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for "stay at home" technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.