We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Top 5 Non-Tech Winners YTD With More Potential for Growth
Read MoreHide Full Article
The Nasdaq Composite is back in action after an astonishing 43.4% rally in 2023, The tech-heavy index soared 43.4% last year, recording its best year since 2020. The tech-heavy index suffered a setback in April, but regained momentum in May.
The Nasdaq Composite surged 6.9% in May, recording its best month since November 2023. Year to date, the Nasdaq Composite is up 13.3% compared with an 11.3% gain of the S&P 500 and 2.6% of the Dow.
Moreover, the ongoing tech rally was led by a massive thrust toward artificial intelligence (AI), especially generative AI. The rapid penetration of digital technologies and the Internet worldwide during the lockdown ushered in significant adoption of AI.
Aside from technology stocks, several stocks from non-technology sectors have also flourished year to date. Despite being a tech-laden index, the Nasdaq Composite also carries a diversified structure. Several stocks from non-technology sectors are included on the index.
A few Nasdaq Composite-listed stocks, with a favorable Zacks Rank, from these non-technology sectors have more upside left. Investment in these stocks is likely to be fruitful.
Our Top Picks
We have narrowed our search to five Nasdaq Composite listed non-technology stocks that have provided more than 40% returns year to date and have more potential for growth. These stocks have seen positive earnings estimate revisions in the last 30 days. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The chart below shows the price performance of our five picks year to date.
Image Source: Zacks Investment Research
Coinbase Global Inc. (COIN - Free Report) provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN offers the primary financial account in the crypto space for consumers, a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
Zacks Rank #1 Coinbase Global has an expected revenue and earnings growth rate of 83.5% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the last 30 days.
Medpace Holdings Inc. (MEDP - Free Report) provides clinical research-based drug and medical device development services in North America, Europe, and Asia. MEDP offers a suite of services supporting the clinical development process from Phase I to IV in various therapeutic areas. Medpace Holdings also provides clinical development services to the pharmaceutical, biotechnology, and medical device industries.
Zacks Rank#1 Medpace Holdings has an expected revenue and earnings growth rate of 14.9% and 27.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the last 30 days.
Wingstop Inc. (WING - Free Report) franchises and operates restaurants. WING’s operating segment consists of the Franchise and Company segments. WING offers classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors.
Zacks Rank #1 Wingstop has an expected revenue and earnings growth rate of 27.5% and 36.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 13% over the last 30 days.
Texas Roadhouse Inc. (TXRH - Free Report) is a full-service, casual dining restaurant chain offering assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. TXRH operates restaurants under the Texas Roadhouse and Aspen Creek names.
TXRH offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches. TXRH also provides supervisory and administrative services for other licensed and franchise restaurants.
Zacks Rank #2 Texas Roadhouse has an expected revenue and earnings growth rate of 15.2% and 32.6%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last seven days.
Tractor Supply Co. (TSCO - Free Report) has been benefiting from its sturdy demand and strong market share gains. Also, the buyout of Orscheln Farm and Home, and store openings bode well. TSCO is benefiting from its Life Out Here Strategy and the Neighbor’s Club membership program. TSCO’s ‘ONETractor’ strategy aimed at connecting stores and online shopping also appears encouraging.
Zacks Rank #2 Tractor Supply has an expected revenue and earnings growth rate of 3% and 2.5%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the last 30 days.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Top 5 Non-Tech Winners YTD With More Potential for Growth
The Nasdaq Composite is back in action after an astonishing 43.4% rally in 2023, The tech-heavy index soared 43.4% last year, recording its best year since 2020. The tech-heavy index suffered a setback in April, but regained momentum in May.
The Nasdaq Composite surged 6.9% in May, recording its best month since November 2023. Year to date, the Nasdaq Composite is up 13.3% compared with an 11.3% gain of the S&P 500 and 2.6% of the Dow.
Moreover, the ongoing tech rally was led by a massive thrust toward artificial intelligence (AI), especially generative AI. The rapid penetration of digital technologies and the Internet worldwide during the lockdown ushered in significant adoption of AI.
Aside from technology stocks, several stocks from non-technology sectors have also flourished year to date. Despite being a tech-laden index, the Nasdaq Composite also carries a diversified structure. Several stocks from non-technology sectors are included on the index.
A few Nasdaq Composite-listed stocks, with a favorable Zacks Rank, from these non-technology sectors have more upside left. Investment in these stocks is likely to be fruitful.
Our Top Picks
We have narrowed our search to five Nasdaq Composite listed non-technology stocks that have provided more than 40% returns year to date and have more potential for growth. These stocks have seen positive earnings estimate revisions in the last 30 days. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The chart below shows the price performance of our five picks year to date.
Image Source: Zacks Investment Research
Coinbase Global Inc. (COIN - Free Report) provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN offers the primary financial account in the crypto space for consumers, a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
Zacks Rank #1 Coinbase Global has an expected revenue and earnings growth rate of 83.5% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the last 30 days.
Medpace Holdings Inc. (MEDP - Free Report) provides clinical research-based drug and medical device development services in North America, Europe, and Asia. MEDP offers a suite of services supporting the clinical development process from Phase I to IV in various therapeutic areas. Medpace Holdings also provides clinical development services to the pharmaceutical, biotechnology, and medical device industries.
Zacks Rank#1 Medpace Holdings has an expected revenue and earnings growth rate of 14.9% and 27.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the last 30 days.
Wingstop Inc. (WING - Free Report) franchises and operates restaurants. WING’s operating segment consists of the Franchise and Company segments. WING offers classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors.
Zacks Rank #1 Wingstop has an expected revenue and earnings growth rate of 27.5% and 36.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 13% over the last 30 days.
Texas Roadhouse Inc. (TXRH - Free Report) is a full-service, casual dining restaurant chain offering assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. TXRH operates restaurants under the Texas Roadhouse and Aspen Creek names.
TXRH offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches. TXRH also provides supervisory and administrative services for other licensed and franchise restaurants.
Zacks Rank #2 Texas Roadhouse has an expected revenue and earnings growth rate of 15.2% and 32.6%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last seven days.
Tractor Supply Co. (TSCO - Free Report) has been benefiting from its sturdy demand and strong market share gains. Also, the buyout of Orscheln Farm and Home, and store openings bode well. TSCO is benefiting from its Life Out Here Strategy and the Neighbor’s Club membership program. TSCO’s ‘ONETractor’ strategy aimed at connecting stores and online shopping also appears encouraging.
Zacks Rank #2 Tractor Supply has an expected revenue and earnings growth rate of 3% and 2.5%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the last 30 days.