TipRanks
3 Monster Growth Stocks That Are Still Undervalued
A lackluster jobs report didn’t derail the markets last week. New jobs in April totaled only 266,000, far below the 978K expected, and the official unemployment rate, which had been predicted to come in at 5.8% actually ticked up slightly to 6.1%. Even so, the tech-weighted NASDAQ gained 0.88% in Friday’s session, the broader S&P 500 was up 0.75% at the end of the day. These gains brought the S&P to a new record level, with a year-to-date gain of 13%. The market’s growth so far this year has been broad-based, based as it is on a general economic reopening as the corona panic shrinks in the rear-view mirror. Broad-based market gains create a positive environment for growth stocks. Using the TipRanks database, we’ve pulled up three stocks that fit a profile: a Buy rating from Wall Street, recent share appreciation that strongly outperforms the overall markets, and considerable upside potential, indicating that they may still be undervalued. Here are the details. Crocs (CROX) We’ll start in footwear, where Crocs took the world by storm almost 20 years ago, when it first started selling its signature brand of foam clogs. The shoes were big, bright, and even tacky – but they caught on and succeeded, and the company has since branched out into more traditional footwear, including sandals, sneakers, and even dress shoes. The brand has grown popular with teens, who see it as an ‘ugly chic’ and retro – but…
