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October 1, 2020 By admin

TipRanks

3 Monster Growth Stocks That Are Still Undervalued

What’s always in fashion on Wall Street? Growth. Given the current macro environment, however, compelling growth stocks have become even harder to spot. That said, despite the wild ride that has been 2020, a select few names could still shine bright and reward investors handsomely, so says the pros from the Street. These tickers don’t have just any old growth prospects, they are some serious overachievers. Along with a track record of upward movements since 2020 kicked off, their solid businesses could drive share prices higher through 2020 and beyond. Bearing this in mind, we set out to find stocks flagged as exciting growth plays by Wall Street. Using TipRanks’ database, we locked in on three analyst-backed names that have already notched impressive gains and boast strong growth narratives for the long-term. Wix.com Ltd (WIX) Founded as an online web development platform, Wix empowers its more than 72 million registered users to develop and create websites. Up 107% year-to-date, several members of the Street believe this name has plenty of fuel left in the tank. Writing for JMP Securities, five-star analyst Ronald Josey has been impressed, to say the least. In the most recent quarter, the company added 9.3 million net registered users, the most ever in a quarter, driven by its increased marketing spend to take advantage of the digital shift brought on by the COVID-19 pandemic. What’s more, Josey cites the fact that July new subscriber additions accelerated to 200%-plus as suggesting that the above trend is continuing to accelerate. However, he argues the most important growth indicator
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