Market volatility amid ongoing macroeconomic issues has stoked investors to invest in the market. The war between Russia and Ukraine, supply chain disruptions, rising commodity prices, COVID-19 flare-ups and labor issues are some of the factors clouding investors’ minds.
Moreover, rising inflation and rising interest rates are fueling the fire, signaling a slowdown in the economy.
As a result, the S&P 500 (SPX) is down more than 20% year-to-date.
In such scenarios, TipRanks’ insightful tools can help. Use of data from SEMrush Holdings (SEMR), the website traffic tool from TipRanks, the world’s largest website usage monitoring service, estimates the correlation between consumer visits to a company’s website and its stock price.
An increase in a company’s website traffic indicates consumer optimism about that company, and vice versa.
Let’s dig into the fundamentals of two valuable stocks that are trending up on the website and have a strong future.
Colorado-based Crocs manufactures and markets comfortable shoes, apparel and accessories for everyone.
With a market capitalization of $2.95 billion, the company operates in the Americas, Asia Pacific, Europe, Middle East and Africa (EMEA).
Crocs, caught in a broader market plunge, are hovering near a 52-week low. Nevertheless, Crocs’ strong performance in the first quarter against growing customer demand reflects Crocs’ underlying strengths. This puts the company well-positioned to create long-term shareholder value.
As a result, Crocs can be viewed as an attractive buying opportunity at current price levels (down 63.7% year-to-date) if investors are looking to buy downside.
Encouragingly, Crocs CEO Andrew Reese said in the first quarter earnings call: Earnings per share range from $10.05 to $10.65. ”
After the first quarter results, Williams Trading analyst Sam Poser maintained his buy rating on Crocs with a price target of $200. Poser’s price target suggests he could rise 317.1% over the next 12 months.
At TipRanks, we noticed an upward trend in website traffic in our website traffic tool. In April and May, total traffic to Crocs’ websites showed an upward trend on a global basis, increasing by 82.99% and 151.97% year-on-year, respectively. And year-to-date website growth was 151.89% compared to the year-to-date website growth rate of the previous year.
This suggests that the company may report positive results in the second quarter.
Overall, the rest of the street is cautiously optimistic about the stock, with a medium buy consensus rating based on 4 buys and 3 holds. Crocs’ average price target of $95 implies a 98.12% upside potential.
SoFi Technologies, Inc. (NASDAQ: SOFI)
SoFi Technologies, with a market capitalization of $4.95 billion, serves as an online personal finance company and an online bank. We offer a portfolio of financial products including mortgages, personal loans, student and auto refinancing, credit cards, banking and investments.
In addition to macro issues, Sophie has experienced many company-related headwinds. The extension of the student loan moratorium and the government suspension of student loan repayments have impacted the company’s finances.
Nevertheless, SoFi’s growing customer base and strong offerings reflect long-term growth prospects. Moreover, rising interest rates are expected to benefit businesses.
The company showed resilience in its first quarter results. Adjusted net revenue increased by 49% year-over-year on the back of strong performance across all segments. In addition, the total number of members and products reflects a significant double-digit increase.
SoFi CEO Anthony Noto said about the future: Last year, we pledged to invest more in product and brand marketing once we reach the right scale and unit economics. ”
As a result, given the current price levels and solid fundamentals, SoFi could be a strong bet for downside investors.
Recently, Mizuho Securities analyst Dan Dreff maintained his bullish stance on SOFI, setting a price target of $9 (66.36% upside).
Dolev commented: We continue to believe that SoFi’s diversified revenue streams, enduring business model, and Galileo’s BaaS offering will benefit its fundamentals in the long run. ”
The rest of the street is cautiously optimistic about the stock, with a moderate buy consensus rating based on 7 buys and 5 holds. An average SoFi price target of $9.71 implies a potential upside of 79.48% from current levels. The stock is down 65.5% year-to-date.
The trend of increasing website clicks can also be seen in the online traffic tool. In April and May, the total number of visits to the company’s website showed an upward trend on a global basis, jumping 221.83% and 250.27% year-on-year respectively, demonstrating strong results for the June quarter. increase. Also, compared to the year-to-date growth of his website in the previous year, the year-to-date growth of his website was a whopping 321.09%.
In today’s turbulent market, investors seem to be in murky waters about making smart investments. That’s why website trends that visualize the popularity of stocks can help. Analysts expect stock prices for both SoFi and Crocs to rise sharply from current levels, which also reflects an increase in clicks to his website.
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