:
Contents
Overview
AppLovin (APP)
Garmin Ltd. (GRMN)
Interactive Brokers Group (IBKR)
MoneyLion (ML)
Onespan (OSPN)
Signet Jewelers (SIG)
SharkNinja, Inc. (SN)
Note to Reader
What To Do Next
Overview
The predictive ability of the Zacks Rank cannot be denied. In fact,
since 1988, if you invested in Zacks Rank #1 stocks, you would
have averaged a gain of +24.1% per year.*
:
Now, in this report, you'll receive highlights on 7 stocks from the
more than 200 companies that compose the coveted Zacks #1
Rank List. Remember only 5% of all stocks covered by the
proprietary Zacks Rank system have the promise and potential to
beat the market in the next 30 days like these Strong Buy stocks.
Inside this report, you'll discover the company financials, earnings
data and analysis of these 7 promising companies.
AppLovin
(APP)
:
AppLovin (APP) engages in building a software-based platform for
advertisers to enhance marketing and monetization.
The stock has become an AI play through its AI-powered software
platform AXON. In early May, APP reported a 17% EPS beat and a
positive surprise on revenues. The company guided Q2 revenues
above consensus, seeing $1.06-1.08B v the $998M expected.
Management attributed the success to improvements in the app ad
market and a continued shift towards real-time bidding.
Since reporting earnings, analysts have been very positive, with
many hiking estimates and price targets. For the current year,
numbers have been taken from $2.47 to $2.96. This is a 20%
move higher over the last 30 days. And for next year we see a
similar trend, with estimates going up over 18% for that
timeframe, moving from $3.01 to $3.57.
And now would you like to see all of today's Zacks Rank #1 Strong
Buys? Click here »
Garmin
Ltd.
:
(GRMN)
Garmin Ltd. (GRMN) is an original equipment manufacturer (OEM)
of navigation and communication equipment that incorporates the
global positioning system (GPS)-based technology.
The company posted record first-quarter revenue across four of its
five segments, helping boost total sales by 20%. Garmin's top-line
strength and improving margins helped it boost its adjusted first
quarter earnings by 39% to beat our bottom line estimate by 42%.
The company's earnings outlook has soared since its May 1
release, especially for 2025.
GRMN's consensus EPS estimate for FY25 has popped nearly 11%
since the report. It's most accurate/recent EPS estimates topped
our current consensus for both FY24 and FY25 to help it land a
Zacks Rank #1 (Strong Buy). Garmin is projected to post 13%
revenue growth in 2024 and 9% higher sales next year to help
raise its bottom line by 3% and 13%, respectively.
:
And now would you like to see all of today's Zacks Rank #1 Strong
Buys? Click here »
Interactive Brokers Group
(IBKR)
Interactive Brokers Group (IBKR) operates as an automated global
:
electronic market maker and broker.
The company's latest set of quarterly results exceeded both
earnings and revenue expectations with growth of 21% and 25%,
respectively. IBKR's revenue growth has remained strong, with the
company posting double-digit percentage year-over-year sales
growth rates in each of its last seven periods.
In addition, investors stand to reap a passive income from IBKR
shares, which currently yield a modest 0.3% annually. While the
current yield is a tad underwhelming, the company boosted its
quarterly payout by 150% following the release of its latest
quarterly results, reflecting a shareholder-friendly nature. The
company maintains a bright growth outlook for its current fiscal
year, with Zacks Consensus Estimates suggesting a 13% boost in
earnings on a 10% sales increase.
And now would you like to see all of today's Zacks Rank #1 Strong
Buys? Click here »
:
MoneyLion
(ML)
MoneyLion (ML) is a data-driven, digital financial platform. The
company is benefitting from underlying momentum in both the
technology and financial sectors.
Shares are displaying relative strength as buying pressure
accumulates in this market leader. This Zacks Rank #1 (Strong
Buy) has established an impressive earnings history since its IPO
in 2020.
It has exceeded earnings estimates in each of the last four
quarters, delivering a trailing four-quarter average earnings
surprise of 116.4%. Analysts covering ML are in agreement and
have been raising their earnings estimates lately. For the current
fiscal year, analysts have increased earnings estimates by an
astounding 2,516.67% in the past 60 days. The Zacks Consensus
Estimate now stands at $1.45/share, reflecting potential growth of
131.3% relative to the prior year. Revenues are projected to rise
24% to $524.8 million.
And now would you like to see all of today's Zacks Rank #1 Strong
Buys? Click here »
:
Onespan
(OSPN)
Onespan (OSPN) designs and develops security software and e-
signature solutions, which protects devices and financial
transactions from fraud and misuse. It delivers risk analytics,
:
mobile security, and authentication services.
OSPN topped the Zacks Consensus Estimate three times and
missed once over the past four quarters. This Zacks Rank #1
(Strong Buy) has watched full fiscal year 2024 estimates move
from $0.99 to $1.07 over the last 60 days. Next year has moved
from $1.16 to $1.21 over that time.
The company has seen operating margins flip from negative 7.5%
to a positive 4.4% over the last three quarters. When a company
has good revenue growth and an increase in operating margins,
they will often also see an increase in EPS.
And now would you like to see all of today's Zacks Rank #1 Strong
Buys? Click here »
Signet
:
Jewelers
(SIG)
Signet Jewelers (SIG) is the world's largest diamond jewelry
retailer with 2,700 stores across the U.S., Canada, UK, and
Ireland.
Management highlighted several positive factors in its most recent
earnings report, including growing margins (160bps), $600 million
in free cash flow, a 30% increase in share buybacks, and an
increase in the dividend payment. The company also enjoys a
robust balance sheet, with a large cash position and zero long-
term debt. Analysts have taken a liking to the stock.
FY24 earnings estimates have risen by 10% and FY25 is up by a
whopping 17.2%. Signet Jewelers is trading at a one year forward
earnings multiple of 9.3x, which is well below the market average
and just below its 10-year median of 9.6x. This is a fairly
reasonable valuation but reflects minimal growth estimates. If SIG
can surprise to the upside, it should allow for some multiple
expansion and send the stock higher.
And now would you like to see all of today's Zacks Rank #1 Strong
Buys? Click here »
:
SharkNinja, Inc.
(SN)
SharkNinja, Inc. (SN) is a global product design and technology
company that's known for bringing small home appliances to the
market. It operates the two well-known brands of Shark and Ninja.
On May 9, 2024, SharkNinja reported its first quarter 2024 results
and beat the Zacks Consensus by $0.11. Earnings were $1.06
versus the Zacks Consensus of $0.95. It has only made three
:
earnings reports since going public in August, but it has now beat
on earnings every quarter as a stand-alone company. Net sales
jumped 24.7% to $1.066 billion compared to $855.3 million from a
year ago. Adjusted net sales are expected to rise 12% to 14%
year-over-year while earnings are now expected in the range of
$3.66 and $3.82. For earnings, that would be growth between
14% and 19%.
Four analysts raised estimates for both 2024 and 2025 since the
report.
And now would you like to see all of today's Zacks Rank #1 Strong
Buys? Click here »
Note to Reader
In addition to our 7 Best, you can see each
day's full, updated list of 220 Zacks Rank #1
Strong Buy stocks free of charge.
This is the list that has more than doubled the S&P 500 from
January 1, 1988 through May 6, 2024 with an average gain of
+24.1% per year. It's a great place to start your stock search. Plus
you can also access our full list of must-avoid Strong Sells and
other private research not available on Zacks.com. See the
stocks free »
:
What To Do Next
In addition to the hand-selected picks
included in this special report, you can move
yourself way ahead of the crowd in any
market environment with the following:
As part of this free report, you will now receive our free daily e-
newsletter, Profit from the Pros. Each morning, Executive Vice
President Kevin Matras will summarize the market, what it
means for investors and what to do next. Plus you get links to
articles featuring some of our top stock, ETF and mutual fund
recommendations. Be sure to look for it in your email inbox
before the markets open every day.
Now you should bookmark our homepage to take advantage of
one of the most complete investment websites around.
Go there now: www.zacks.com
Disclaimer
:
Copyright 2024 Zacks Investment Research
This Special Report has not been authorized, sponsored, or otherwise approved or
endorsed by the companies represented herein. Each of the company names represented
herein are trademarks of Garmin Ltd.; Interactive Brokers Group, Inc.; MoneyLion Inc.;
OneSpan Inc.; AppLovin Corporation; Signet Jewelers Ltd.; SharkNinja Inc.
Zacks.com provides investment resources and informs you of these resources, which you
may choose to use in making your own investment decisions. Zacks is providing
information on this resource to you subject to the Zacks "Terms of Service".
www.zacks.com/terms_of_service
*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 is not a licensed securities
dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank
Performance covers a period beginning on January 1, 1988 to May 6, 2024. These
returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that
were rebalanced monthly (see additional details regarding rebalancing below) with zero
transaction costs. These are not the returns of actual portfolios of stocks. Zacks Rank #1
stock-rating system returns are computed monthly based on the beginning of the month
and end of the month Zacks Rank #1 stock prices plus any dividends received during that
particular month. A simple, equally-weighted average return of all Zacks Rank #1 stocks
is calculated to determine the monthly return. The monthly returns are then compounded
to arrive at the annual return. Only Zacks Rank #1 stocks included in Zacks hypothetical
portfolios at the beginning of each month are included in the return calculations. Zacks
Rank #1 stocks can, and often do, change throughout the month. Certain Zacks Rank #1
stocks for which no month-end price was available, pricing information was not collected,
or for certain other reasons have been excluded from these return calculations. The S&P
500 is an unmanaged index. Visit www.zacks.com/performance_disclosure for
information about the performance numbers displayed above.
:
