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Zacks Investment Ideas feature highlights: Shopify, Zillow Group and Blackline
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For Immediate Release
Chicago, IL – February 13, 2024 – Today, Zacks Investment Ideas feature highlights Shopify (SHOP - Free Report) , Zillow Group (ZG - Free Report) and Blackline (BL - Free Report) .
3 Highly Ranked Tech Stocks to Watch as Earnings Approach
There will be a slew of top-rated stocks reporting earnings this week with several belonging to the Zacks Rank #1 (Strong Buy) list and being attractive tech companies to watch.
Reporting their fourth quarter results on Tuesday, February 13, here are three of these highly-ranked tech stocks that investors will want to keep an eye on.
Shopify
Market sentiment has been high for Shopify’s potential as a provider of essential internet infrastructure for commerce. To that point, SHOP shares have soared +87% in the last year as the company’s appealing growth narrative continues to take off.
Shopify’s products for commerce and an expanding merchant base are expected to have driven its fourth quarter sales up 19% to $2.07 billion. More intriguing, Q4 earnings are projected to skyrocket 343% to $0.31 a share versus $0.07 a share in the comparative quarter. Shopify has eclipsed its top and bottom-line expectations for five consecutive quarters and strong Q4 results along with positive guidance could certainly extend the impressive rally in SHOP shares.
Zillow Group
Zillow is another internet platform that could be on the cusp of lofty expansion through its offering of real estate and home-related brands on the web and mobile. Fourth quarter results and guidance from Zillow will also give larger insight into the broader outlook of the housing industry and hopefully a rebound in the company’s bottom line in fiscal 2024.
With that being said, Zillow’s Q4 earnings are forecasted at $0.12 a share compared to $0.21 a share in a competitive prior-year quarter. Still, Q4 sales are projected to be up 3% to $450.75 million giving hope that Zillow could thrive upon easing inflation and lower rates.
More importantly, the busy home shopping season is near as the spring approaches and Zillow has surpassed its top and bottom line expectations for eight consecutive quarters. Even better, Zillow has posted an eye-catching average earnings surprise of 104.49% in its last four quarterly reports helping ZG shares rise a very respectable +23% over the last year.
Blackline
Lastly, Blackline is a provider of cloud-based solutions that centralize and streamline financial operations and other key finance and accounting processes. Blackline’s growth prospects are very intriguing and may be overlooked at the moment with BL shares down -14% in the last year.
However, Q4 sales are expected to be up 10% to $154.24 million with earnings anticipated to climb 57% to $0.55 a share compared to $0.35 per share a year ago. Interestingly enough, Blackline has surpassed top line estimates for 30 consecutive quarters and every quarter since the company went public in 2016. Blackline has beaten earnings expectations in three of its last four quarterly reports and reconfirming its expansion and anticipation of double-digit EPS and sales growth in fiscal 2024 could very well lead to a rebound in BL shares.
Takeaway
Making the prospects of these intriguing tech stocks more attractive is that earnings estimate revisions are up for their fiscal 2024 as they round out FY23 on Tuesday. This is a promising sign that Shopify, Zillow Group, and Blackline may be able to offer positive guidance and that it may be an ideal time to buy their stocks.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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 https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: Shopify, Zillow Group and Blackline
For Immediate Release
Chicago, IL – February 13, 2024 – Today, Zacks Investment Ideas feature highlights Shopify (SHOP - Free Report) , Zillow Group (ZG - Free Report) and Blackline (BL - Free Report) .
3 Highly Ranked Tech Stocks to Watch as Earnings Approach
There will be a slew of top-rated stocks reporting earnings this week with several belonging to the Zacks Rank #1 (Strong Buy) list and being attractive tech companies to watch.
Reporting their fourth quarter results on Tuesday, February 13, here are three of these highly-ranked tech stocks that investors will want to keep an eye on.
Shopify
Market sentiment has been high for Shopify’s potential as a provider of essential internet infrastructure for commerce. To that point, SHOP shares have soared +87% in the last year as the company’s appealing growth narrative continues to take off.
Shopify’s products for commerce and an expanding merchant base are expected to have driven its fourth quarter sales up 19% to $2.07 billion. More intriguing, Q4 earnings are projected to skyrocket 343% to $0.31 a share versus $0.07 a share in the comparative quarter. Shopify has eclipsed its top and bottom-line expectations for five consecutive quarters and strong Q4 results along with positive guidance could certainly extend the impressive rally in SHOP shares.
Zillow Group
Zillow is another internet platform that could be on the cusp of lofty expansion through its offering of real estate and home-related brands on the web and mobile. Fourth quarter results and guidance from Zillow will also give larger insight into the broader outlook of the housing industry and hopefully a rebound in the company’s bottom line in fiscal 2024.
With that being said, Zillow’s Q4 earnings are forecasted at $0.12 a share compared to $0.21 a share in a competitive prior-year quarter. Still, Q4 sales are projected to be up 3% to $450.75 million giving hope that Zillow could thrive upon easing inflation and lower rates.
More importantly, the busy home shopping season is near as the spring approaches and Zillow has surpassed its top and bottom line expectations for eight consecutive quarters. Even better, Zillow has posted an eye-catching average earnings surprise of 104.49% in its last four quarterly reports helping ZG shares rise a very respectable +23% over the last year.
Blackline
Lastly, Blackline is a provider of cloud-based solutions that centralize and streamline financial operations and other key finance and accounting processes. Blackline’s growth prospects are very intriguing and may be overlooked at the moment with BL shares down -14% in the last year.
However, Q4 sales are expected to be up 10% to $154.24 million with earnings anticipated to climb 57% to $0.55 a share compared to $0.35 per share a year ago. Interestingly enough, Blackline has surpassed top line estimates for 30 consecutive quarters and every quarter since the company went public in 2016. Blackline has beaten earnings expectations in three of its last four quarterly reports and reconfirming its expansion and anticipation of double-digit EPS and sales growth in fiscal 2024 could very well lead to a rebound in BL shares.
Takeaway
Making the prospects of these intriguing tech stocks more attractive is that earnings estimate revisions are up for their fiscal 2024 as they round out FY23 on Tuesday. This is a promising sign that Shopify, Zillow Group, and Blackline may be able to offer positive guidance and that it may be an ideal time to buy their stocks.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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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 https://www.zacks.com/performance for information about the performance numbers displayed in this press release.