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3 monster growth stocks that are still in the buy zone
With markets generally rising for now – the S&P is up over 9% in the past 30 days – investors are looking closely at growth stocks. These are the stocks that have seen long-term appreciation, with returns for investors based mostly on price gains. It’s an obvious move when the mood on the street is optimistic. The professional analyst corps understands this and has scoured the market for stocks that show signs of strong growth ahead. These aren’t necessarily the big names – but they will likely bring the returns that make an investment profitable. Added to the TipRanks database, we retrieved the statistics for three such stocks. Wall Street analysts all have doubled or more this year, have buy ratings, and have double-digit upside potential. The Americans of the Open Lending Corporation (LPRO) love their cars – but the financing sector is the real engine of auto sales growth. Loan financing allows most people to maximize their buying potential, and Texas-based Open Lending has lived in this credit niche for the past 20 years. The company provides credit analysis, automated decision-making, risk modeling, and risk-based pricing to automotive lenders. Open Lending went to NASDAQ last summer through an agreement with Nebula Acquisition Corporation. Since LPRO went public in the markets, the stock’s value has risen an impressive 156%. The increase is due to revenue increasing from $ 22 million in the second quarter to $ 29 million in the third quarter, an increase of 31%. Open Lending supports its revenue growth by targeting a new cohort of customers in the automotive lending industry – near-prime customers who, according to data analysis, have a relatively low risk but do not qualify for the prime rate loan products. Open lending helps financial companies find these customers – and offers them better prices than before. It’s a bold move in the auto loan industry, and it seems to be paying off as measured by revenue growth. Joseph Vafi, 5-star analyst at Canaccord, is impressed with the market debut of open lending and its business model. “In the experience of this analyst, it is rare that a new FinTech entrant is able to acquire few new customers and potentially accelerate their business model so quickly and quickly,” said Vafi. “The real story here is the outlook and potential for ‘extraordinary’ P&L acceleration looking towards 2021/2022. This view is supported by significant advances in auto OEM finance customers. Turning to the model, Vafi continues: “The value proposition of open lending goes well beyond risk mitigation and expands the balance sheet capacity for the lenders themselves. Given our view that the company’s product launch is still in In the beginning, we see LPRO in a position to achieve medium-term growth and EBITDA profitability at the upper end of the FinTech peer group. “Consistent with In his bullish comment, Vafi rates LPRO shares as a buy and sets a price target of $ 35. This implies an upside potential of 28% for the next 12 months. (To view Vafi’s track record, click here.) Overall, Wall Street agrees with Vafi on this point. The stock has 9 recent ratings split into 8 buy and 1 hold, making the analyst consensus here a strong buy. The average price target is $ 33.11, which is an upward trend of 21% for a year. (See LPRO stock analysis on TipRanks) AdaptHealth (AHCO) With advances in technology, many chronic care patients have been able to stay at home and use medical devices and equipment to make a normal living – within their own four walls. It’s one of the best traits the medical system has developed in the past few decades and has arguably had one of the most positive effects on people’s quality of life. AdaptHealth is a medical device company that provides a range of home devices to patients through a national network of suppliers. Adaptive devices include mobility, nutrition, ventilation, wound care, and more to keep patients at home. While the approach charges for patient empowerment, home care also lowers costs for medical providers. Revenue at AdaptHealth grew through 2020. Revenue increased from $ 191 million in the first quarter to $ 232 million in the second quarter to $ 284 million in the third quarter, an overall increase of 48% for the first nine Months of the calendar year. Together with the sales growth, the share has developed admirably. The shares in AHCO have increased by 210% this year. AdaptHealth is growing by expanding its network of providers. The company has made four acquisitions in the past few months. The company signed contracts with AeroCare, Solara Medical Supplies, ActivStyle and Pinnacle Medical Solutions – all providers of home healthcare equipment. Deutsche Bank analyst Pito Chickering likes AHCO and describes the company’s year-to-date growth as “massive outperformance compared to most healthcare stocks”. The analyst believes that “despite the outperformance since the beginning of the year, there is still a lot of upside potential for AHCO”. Chickering continues: “[We] We expect core organic growth of 8-10% to accelerate over the course of the year, as well as good balance sheets and free cash flows that would allow for additional purchases. Ultimately, we believe the multipliers could expand into the home health arena. “Overall, Chickering has a buy rating on AHCO stock, and its target price of $ 47 implies an uptrend of nearly 39% from current levels. (To view Chickering’s track record, click here.) Strong Buy analysts’ consensus on AHCO is unanimously based on 7 most recent buy ratings. Stocks sell for $ 33.79 and the average price target of $ 40.93 indicates growth of 21% in 2021. (See AHCO stock analysis on TipRanks) Camping World Holdings (CWH) The final stock on our list is a camping supplies company, specifically a RV and related equipment retailer. Camping World Holdings owns the largest stake in this niche and grew its business during the coronavirus crisis – RVing is an in During those times, the company’s network of over 200 retail locations was spread across 36 states, and CWH was in this pande miejahr a steady growth in both the upper and lower range. Revenues w $ 1.03 billion for the first quarter; They hit $ 1.68 billion in the third quarter. Earnings, which showed a loss of 11 cents in the first quarter, rose to an impressive $ 1.44 per share in the third quarter. The share value reflects the result. While the company posted a decline in the first quarter, the stock more than fully rallied during the mid-winter market crash when the coronavirus led to economic standstills. CWH shares are trading at 111% since the beginning of the year. Analyst Ryan Brinkman reports on this stock for JPMorgan: “[S]The structural headwinds in demand versus consumers who wish to travel in such a way as to avoid a contraction of COVID-19 seem to continue to more than outweigh the cyclical headwinds affecting demand in many other end markets. This growing demand, coupled with the company’s improved execution, which resulted in an EBITDA burst in the second quarter, raises previous execution and leverage concerns. “Brinkman’s target price of $ 45 for CWH suggests 50% growth for the coming year and supports his overweight (i.e. buy) valuation. (To see Brinkman’s track record, click here.) Overall, the almost evenly-spaced analyst rating – 2 buy and 3 hold – makes the consensus view a moderate buy here. CWH’s shares are priced at $ 30.10 and have an average price target of $ 38.40, which means upside potential of 28% over the next 12 months. (See CWH stock analysis on TipRanks.) To find great ideas for trading growth stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.