Internet stocks are the 21st century’s new trend. They are very profitable, fast-growing, and cut a good slice in the stock market. Furthermore, they are more immune when it comes to global epidemics and economic slowdowns. Shortly said, such stocks are the right choice if you want more stability and safe income.
Of course, the variety of internet stocks is also important. There is a big difference between the website types and how they amass the gains. Nonetheless, here are two stocks, which are strong buys according to experts.
Carvana Company
This website is an online car marketplace. Its market cap is more than $15.9 billion. The company offers its users a unique opportunity to purchase used cars online. It even allows buyers the choice to deliver their car or let them pick it up from one of Carvana’s vending machines. Furthermore, customers can test drive chosen vehicles, and the vehicles have a 7-day return policy.
While Carvana suffered a serious net loss in the third quarter and reported a negative EPS, revenues were much higher at $1.09 billion. Then forecast, up over 103% from the year before.
The stock rose from $11.10 to the current price of $104.07 since April 2017, for an appreciation of 837%. Few stocks can match that sort of growth.
Lee Krowl from B Riley thinks that Carvana is a good choice. He boosted his price target from $91 to $125. The analyst’s new target implies an upside of 20%.
Rubicon Project
This tech firm specializes in online advertising. Rubicon provides customers with an automation platform, allowing publishers and customers to streamline their online advertising transactions. The LA-based company has been on the market since 2014.
Rubicon has to weather a severe competition. That’s why the stock bottomed out in early 2018. However, it managed to rebound soon and has been growing rapidly thus far.
The shares doubled in 2019, gaining 118% for the year. They have risen by 42% so far in 2020. Krowl set the price target at $13 for this stock, suggesting upside of 12%.
