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The Zacks Analyst Blog Highlights: Zoom Video, Quidel, Zscaler, Datadog and Novavax
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For Immediate Release
Chicago, IL – June 24, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Zoom Video Communications (ZM - Free Report) , Quidel (QDEL - Free Report) , Zscaler (ZS - Free Report) , Datadog (DDOG - Free Report) and Novavax (NVAX - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 Nasdaq Stocks That Have Returned More than 100% YTD
The Nasdaq composite closed at a record high of 10,056.47 on Jun 22, up 1.1% on the day despite hiccups related to the temporary suspension of foreign worker visas through an executive order by President Donald Trump.
Notably, the index is up almost 12% year to date on momentum in technology stocks that show great resiliency amid the coronavirus pandemic. Markedly, tech companies are among the largest users of H-1B visa, which is for highly-skilled workers.
Nevertheless, the momentum in Nasdaq is expected to continue, primarily fueled by changing consumer preference and behavior. Stay-at-home is now the new normal as we are learning to live with the virus for a significant stretch. This is expected to boost web-based services like e-commerce, contactless payment and delivery.
Moreover, the work-from-home and online learning wave is anticipated to keep demand for remote-working tech, cloud services and cybersecurity solutions high.
Additionally, rapid adoption of cloud computing along with the ongoing infusion of AI and machine learning as well as the accelerated deployment of 5G technology, autonomous vehicles, AR/VR and wearables are major positives.
Further, demand for coronavirus testing solutions is expected to remain high until the availability of an effective vaccine.
Here we discuss five Nasdaq-listed stocks that are up more than 100% year to date and have room for further growth.
Per the Zacks proprietary methodology, stocks with such a perfect mix of elements offer solid investment opportunities.
Top Performers
Zoom Video Communicationsis riding on the coronavirus-induced work-from-home and online-learning trend. Moreover, the company’s efforts to eliminate the security and privacy loopholes like “zoombombing” are expected to help maintain its existing enterprise user base as well as attract more customers.
Zoom Video currently flaunts a Zacks Rank of 1 and a Growth Score of A. The Zacks Consensus Estimate for its fiscal 2021 earnings is pegged at $1.18 per share, having been raised 174.4% in the past 60 days. Shares have returned 269.3% year to date.
Quidelshares have returned 179.8% year to date. The company received emergency use authorization (EUA) for its Lyra Direct SARS-CoV-2 Assay and Sofia 2 SARS Antigen FIA test from the FDA in May. The EUA now allows Lyra Direct SARS-CoV-2 Assay to process samples without requiring an up-front sample extraction, thereby saving roughly 50 minutes of processing time. Moreover, Sofia 2 SARS Antigen FIA test can now be used to detect coronavirus at the point of care.
Quidel currently flaunts a Zacks Rank of 1 and a Growth Score of B. The consensus mark for its fiscal 2020 earnings is pegged at $8.05 per share, having moved 163% north in the past 60 days.
Zscalerbenefits from steady rise in demand for cloud security as the work-from-anywhere trend gains momentum due to coronavirus-led workspace disruption. Notably, this Zacks #2 Ranked company’s unique offerings include four architectural advantages that firewalls cannot add. These include Edge cloud for policy enforcement, multi-tenancy, proxy for SSL or TLS inspection and zero trust network access.
Zscaler has a Growth Score of B. The Zacks Consensus Estimate for its 2020 earnings is pegged at 17 cents per share, having been revised 13.3% upward in the past 60 days. Shares have returned 135.9% year to date.
Datadog has shown strong resiliency amid the coronavirus outbreak. It has gained from exposure to gaming, food delivery, e-commerce and streaming sectors that actually benefited from the pandemic-led lockdowns and shelter-in-home guidelines. The cloud-based monitoring and analytics platform provider has raised its 2020 guidance on solid demand for its solutions. Shares have returned 135.6% year to date.
Datadog carries a Zacks Rank #2 and a Growth Score of B. The consensus mark for its 2020 earnings is pegged at 3 cents per share, up from a loss of 6 cents in the past 60 days.
Novavaxshares have returned a whopping 1557.1% year to date. The company recently received a contract from the U.S. Department of Defense (DoD) for the manufacturing of NVX CoV2373, its potential coronavirus vaccine candidate NVX-CoV2373 in April.
Notably, in May, this Zacks #2 Ranked stock, with a Growth Score of B, initiated a phase I/II clinical study on NVX-CoV2373. Preliminary immunogenicity and safety data from the study is expected in July.
Markedly, the acquisition of Praha Vaccines in Czech Republic in May added a biologics manufacturing facility, which will likely provide an annual capacity of more than 1 billion doses of NVX-CoV2373 starting 2021.
The Zacks Consensus Estimate for its 2020 bottom line is pegged at a loss of 57 cents per share, having narrowed from a loss of $2.63 in the past 60 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 Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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 http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Zoom Video, Quidel, Zscaler, Datadog and Novavax
For Immediate Release
Chicago, IL – June 24, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Zoom Video Communications (ZM - Free Report) , Quidel (QDEL - Free Report) , Zscaler (ZS - Free Report) , Datadog (DDOG - Free Report) and Novavax (NVAX - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 Nasdaq Stocks That Have Returned More than 100% YTD
The Nasdaq composite closed at a record high of 10,056.47 on Jun 22, up 1.1% on the day despite hiccups related to the temporary suspension of foreign worker visas through an executive order by President Donald Trump.
Notably, the index is up almost 12% year to date on momentum in technology stocks that show great resiliency amid the coronavirus pandemic. Markedly, tech companies are among the largest users of H-1B visa, which is for highly-skilled workers.
Nevertheless, the momentum in Nasdaq is expected to continue, primarily fueled by changing consumer preference and behavior. Stay-at-home is now the new normal as we are learning to live with the virus for a significant stretch. This is expected to boost web-based services like e-commerce, contactless payment and delivery.
Moreover, the work-from-home and online learning wave is anticipated to keep demand for remote-working tech, cloud services and cybersecurity solutions high.
Additionally, rapid adoption of cloud computing along with the ongoing infusion of AI and machine learning as well as the accelerated deployment of 5G technology, autonomous vehicles, AR/VR and wearables are major positives.
Further, demand for coronavirus testing solutions is expected to remain high until the availability of an effective vaccine.
Here we discuss five Nasdaq-listed stocks that are up more than 100% year to date and have room for further growth.
Moreover, they have a favorable combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Per the Zacks proprietary methodology, stocks with such a perfect mix of elements offer solid investment opportunities.
Top Performers
Zoom Video Communicationsis riding on the coronavirus-induced work-from-home and online-learning trend. Moreover, the company’s efforts to eliminate the security and privacy loopholes like “zoombombing” are expected to help maintain its existing enterprise user base as well as attract more customers.
Zoom Video currently flaunts a Zacks Rank of 1 and a Growth Score of A. The Zacks Consensus Estimate for its fiscal 2021 earnings is pegged at $1.18 per share, having been raised 174.4% in the past 60 days. Shares have returned 269.3% year to date.
Quidelshares have returned 179.8% year to date. The company received emergency use authorization (EUA) for its Lyra Direct SARS-CoV-2 Assay and Sofia 2 SARS Antigen FIA test from the FDA in May. The EUA now allows Lyra Direct SARS-CoV-2 Assay to process samples without requiring an up-front sample extraction, thereby saving roughly 50 minutes of processing time. Moreover, Sofia 2 SARS Antigen FIA test can now be used to detect coronavirus at the point of care.
Quidel currently flaunts a Zacks Rank of 1 and a Growth Score of B. The consensus mark for its fiscal 2020 earnings is pegged at $8.05 per share, having moved 163% north in the past 60 days.
Zscalerbenefits from steady rise in demand for cloud security as the work-from-anywhere trend gains momentum due to coronavirus-led workspace disruption. Notably, this Zacks #2 Ranked company’s unique offerings include four architectural advantages that firewalls cannot add. These include Edge cloud for policy enforcement, multi-tenancy, proxy for SSL or TLS inspection and zero trust network access.
Zscaler has a Growth Score of B. The Zacks Consensus Estimate for its 2020 earnings is pegged at 17 cents per share, having been revised 13.3% upward in the past 60 days. Shares have returned 135.9% year to date.
Datadog has shown strong resiliency amid the coronavirus outbreak. It has gained from exposure to gaming, food delivery, e-commerce and streaming sectors that actually benefited from the pandemic-led lockdowns and shelter-in-home guidelines. The cloud-based monitoring and analytics platform provider has raised its 2020 guidance on solid demand for its solutions. Shares have returned 135.6% year to date.
Datadog carries a Zacks Rank #2 and a Growth Score of B. The consensus mark for its 2020 earnings is pegged at 3 cents per share, up from a loss of 6 cents in the past 60 days.
Novavaxshares have returned a whopping 1557.1% year to date. The company recently received a contract from the U.S. Department of Defense (DoD) for the manufacturing of NVX CoV2373, its potential coronavirus vaccine candidate NVX-CoV2373 in April.
Notably, in May, this Zacks #2 Ranked stock, with a Growth Score of B, initiated a phase I/II clinical study on NVX-CoV2373. Preliminary immunogenicity and safety data from the study is expected in July.
Markedly, the acquisition of Praha Vaccines in Czech Republic in May added a biologics manufacturing facility, which will likely provide an annual capacity of more than 1 billion doses of NVX-CoV2373 starting 2021.
The Zacks Consensus Estimate for its 2020 bottom line is pegged at a loss of 57 cents per share, having narrowed from a loss of $2.63 in the past 60 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 Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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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 http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.