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Top Rated Stocks To Watch This Week - March 11, 2024
AInvestSunday, Mar 10, 2024 10:54 pm ET
3min read
AMD --
WFC --

In the stock market where opportunities and risks coexist, stock selection is of paramount importance for every smart investor. Here, we have some very good investment opportunities that can assist investors. Combines fundamental analysis and quantitative screens to uncover promising companies that have the potential to become market leaders.

Additions

There are several new additions to the Top Rated Stocks this week.

1. Square, Inc. (SQ)

A leader in financial technology, Square has shown impressive growth, particularly in its Buy Now, Pay Later (BNPL) transactions via Afterpay, which saw a 19% year-over-year increase. The company's Cash App continues to expand its user base, now at 22 million monthly active users. With a 10% increase in Gross Payment Volume (GPV) in Q3 and a disciplined approach to cost management, SQ is set to release its Q4 earnings soon. Analysts have a consensus of Moderate Buy for SQ, trading at a market cap of $39.59 billion and an enterprise value of $35.79 billion. Click here to review the article.

2. Target Corporation (TGT)

Despite facing challenges in 2023, Target has reported impressive fourth-quarter results, surpassing expectations for both revenue and earnings. The company has adjusted its inventory to align with shifting consumer preferences towards essential goods. TGT's fourth-quarter earnings per share (EPS) growth of 158% to $2.98 easily beat estimates. The company has provided guidance for the first quarter of 2024, expecting EPS between $1.70 and $2.10. Target's ongoing strategies, such as price investments and partnerships with top brands like Ulta Beauty, support its long-term prospects. Click here to review the article.

3. CrowdStrike Holdings, Inc. (CRWD)

CrowdStrike's fourth-quarter earnings report for the fiscal year 2024 exceeded expectations, with an EPS of $0.95 per share and a 32.6% year-over-year increase in revenue. The company's annual recurring revenue (ARR) grew by 34% to $3.44 billion. CrowdStrike announced its intention to acquire Flow Security, expanding its cloud security leadership. The company's guidance for the first quarter of the fiscal year is upbeat, expecting EPS in the range of $0.89 to $0.90 and revenue between $902.2 million and $905.8 million. CrowdStrike's focus on innovation and expansion positions it well for continued growth. Click here to review the article.

Delletions

There are several deletions this week: COST, GM, WFC, S, MRNA.

Last Week's Best Performing Stocks

  • SMCI has risen by 158% since being selected.

    Supermicro Computer Inc., a leading innovator in high-performance server technology and green computing solutions, has shown impressive growth in its second-quarter earnings report for fiscal year 2024. The company reported net sales of $3.66 billion, a significant increase from the previous year's $1.80 billion. Net income also rose to $296 million, up from $176 million. Supermicro has raised its revenue guidance for fiscal year 2024 to between $14.3 billion and $14.7 billion, reflecting strong demand for AI chips. The stock has rallied from $306 to $530 in the after-hours trading, yet it remains relatively affordable at 22x forward earnings. Supermicro's market resilience and innovative solutions make it a stock to watch. Click here to review the article.

  • ARM has risen by 114% since being selected.

    Arm Holdings, a CPU architecture licensing company, saw its shares rally 12% over a holiday-shortened week. Wells Fargo initiated the stock with an Outperform rating and a price target of $70, citing Arm's position to continue taking market share. Nvidia's positive remarks about its Arm-based CPU chip, Grace, during its earnings call further boosted Arm's stock. Arm's dominant position in chip architecture and partnerships with major technology companies, along with the growing adoption of its architecture in data centers and PCs, indicate strong growth potential. However, its valuation at over 55 times next year's earnings estimates suggests caution. Click here to review the article.

  • AMD has risen by 58% since being selected.

    Advanced Micro Devices reported revenue of $5.8 billion for the third quarter of 2023, a 4.2% year-over-year growth. The company saw strong performance in the data center and client segments, with notable demand for its Ryzen 7000 series PC processors and record server processor sales. AMD expects revenue of approximately $6.1 billion for the fourth quarter of 2023, with continued growth in the data center and client segments. Despite a 4% slip in shares following the earnings release, AMD's focus on high-performance processors for various markets presents a positive outlook for the company. Click here to review the article.

    Summary

    Top Rated Stocks is savvy investor's proprietary quantitative system designed to uncover small, fast-growing companies that have the potential to become market leaders.

    If you're new to this page, each Monday we publish an updated list of the growth stocks in the market. In-house focus list of the most compelling investment and trading opportunities in the eyes of savvy analytical team. Also incorporates periodic Special Situations reports on theme-based market opportunities.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.