5 Stocks that are upgraded you need to buy in March
Inflation fears and growing Treasury yields contend with economic stimulus and strong vaccination rates to drive market sentiment in early 2021, with the Nasdaq up around 4% in the first two months of the year.
The rise of streaming television, the expansion of telehealth, and a global semiconductor shortage should continue to benefit the five companies mentioned below. Both of these tech stocks had a great year in 2020, and they’re all poised for major gains in March 2021.
1. Snap ( SNAP)
2. Twitter (TWTR)
3. Roku (ROKU)
4. Teladoc Health (TDOC)
5. Micron Technology (MU)
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Snap (SNAP)
Snap just wowed shareholders with big plans about how the business would grow at its virtual investor day. Ads seen alongside user Stories generate the majority of Snap’s sales, which has been booming of late, with revenue up 64 percent year over year in the fourth quarter. Snap, on the other hand, intends to increase sales through new products such as the Snap Map, as well as continuing to invest in the company.
With 90 percent of Generation Z on Snapchat, the company has a massive opportunity ahead of it, and the announcement of plans to build on its user base was enough to send Snap shares to a new high last week. That will lead investors to believe Snap stock is overpriced, but if management is right and the business grows at a 50% annual rate for the next few years, there’s still plenty of space for shares to rise.
XNYS: SNAP
66.67 PRICE (USD)
↓ -1.30 (-1.93%) [DAILY CHANGE]
Data as of 12:52:01 PM on 3/2/2021
Twitter (TWTR)
Snap was not the only social media company whose offers as of late taken off much obliged to speculator day declarations. Twitter offers hit modern highs final week after Jack Dorsey helmed the company’s, to begin with, examiner day in four a long time, with administration promising a few startling developments ahead. Twitter’s growth targets include doubling revenue from $3.72 billion to $7.5 billion by 2023, as well as growing daily active users from 200 million to 315 million.
XNYS: TWTR
77.63 PRICE (USD)
↓ -2.61 (-3.34%) [DAILY CHANGE]
Data as of 12:52:23 PM on 3/2/2021
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Roku (ROKU)
Roku was unable to escape the carnage caused by the wide market sell-off in late February, but this simply means that investors have the ability to purchase shares of this amazing investment for a low price. Roku has been impressive, with sales of $649.9 million exceeding analyst estimates of $619 million in the fourth quarter, as well as an unexpected profit of $0.49 per share.
Roku has been remarkable, with fourth-quarter sales of $649.9 million exceeding analyst forecasts of $619 million, and an unexpected profit of $0.49 per share exceeding predictions of a $0.05 loss by a wide margin.
XNAS: ROKU
420.31 PRICE (USD)
↓ -10.98 (-2.61%) [DAILY CHANGE]
Data as of 12:52:45 PM on 3/2/2021
Teladoc Health (TDOC)
Teladoc Health had a record-breaking 2020, just as Roku has benefited from a virus-related boost to its market. As people stayed at home and avoided doctor’s offices, the telehealth company’s overall number of doctor’s visits increased by 156 percent to 10.6 million in fiscal 2020, resulting in a 98 percent rise in full-year sales.
Teladoc’s total number of members grew by 15.1 million in 2020, but the organization expects new member growth to slow dramatically in 2021 – in fact, Teladoc management predicts it will barely increase at all. Late February’s announcement, coupled with a wider market shake-up, sent shares spiraling downward, creating the ideal entry point for investors.
XNYS: TDOC
223.39 PRICE (USD)
↓ -3.72 (-1.64%) [DAILY CHANGE]
Data as of 12:53:06 PM on 3/2/2021
Micron Technology (MU)
For years to come, the global semiconductor shortage would have a major effect on a variety of industries, from cars to cell phones. However, as investors look for businesses well placed for potential earnings, this scarcity provides an incentive for investors to find value in semiconductor stocks.
Micron Technology, which produces memory chips for 5G devices, electric cars, and cloud computing components, will benefit greatly from the increasing price of chips as market power transfers to chip manufacturers like Micron as a result of the semiconductor shortage.
XNAS: MU
94.76 PRICE (USD)
↓ -2.71 (-2.86%) [DAILY CHANGE]
Data as of 12:53:51 PM on 3/2/2021
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