The rallying futures floor the stock market. Some of them are old ones, but some are relatively new. Amidst the coronavirus-induced panic, Brexit and the U.S. dollar’s high, these stocks somehow managed to not only avoid falling but also surge to new heights. That’s why experts recommend watching their progress closely. It seems they are quite good buys.
PayPal Stock is one of those stocks. Its earnings slowed in the third quarter, but the stock managed to bounce back with a 25% rise in the fourth quarter. And now it is trading just below a new all-time high. PayPal provides point-of-sale mobile payment technology. The stock’s average annual EPS growth is 25% over the last three years.
Meanwhile, Spartan Motors surged forward by 106% in the third quarter. This Michigan-based stock endured a sharp sell-off starting in May 2018 and hitting bottom in November 2019, before rebounding. The company’s present target is 19.41 entry price. Its annual earnings report is due at the end of this month. Analysts believe it will show 88% growth.
IPO stocks Phoenix Tree and Velocity Financial are new on the market. So far, Velocity Financial’s sales and earnings growth have fluctuated sharply. Even so, the stock increased by 12% (EPS) and gained 21% by sales in the third quarter.
Phoenix Tree, on the other hand, is steadier and shows impressive earnings growth, ranging from 150% to 369% over the last seven quarters. This stock is the China-based provider of residential rental services, isn’t profitable so far.
However, despite their rapid growth, the brand-new stocks, such as Phoenix Tree and Velocity Financial, can be very volatile.
With the stock market rallying, experts have quite a lot to analyze. They pointed out several more stocks, which are near buying points, such as Mastercard, Adobe, and PennyMac Financial. These three futures have broken out and extended recently.
CyberArk stock dropped down sharply on Wednesday. Meanwhile, Martin Marietta Materials is looking for support after falling below its 10-week line this week.
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