Here are 3 stocks to buy now that hit new 52-week highs
Three weeks can make a huge difference.
Three weeks ago, the NYSE just 5 shares It hit a 52-week high compared to 167 on Tuesday. Just on April 16th, 13 Nasdaq Stocks It hit a 52-week high compared to Tuesday's 104-week high.
That's a big turning point.
As I write this early Wednesday morning, 12 stocks on the New York Stock Exchange have already hit 52-week highs. Here are three things worth considering.
Pubmatic
With a name like PubMatic (PUBM), you would half expect it to be related to the brewing industry. Unfortunately, the company's integrated technology platform connects buyers and sellers of digital advertising.
We generate revenue through fees charged to publishers based on the percentage of the value of the ad impressions that they monetize on the Pubmatic platform.
Other revenue sources include OpenWrap, a header bidding solution, Connect, which provides buyers with additional data and insights, Activate, which allows buyers to execute transactions directly on the platform across a publisher's inventory, and PubMatic's We have Convert, a commerce media solution. The company released the last two models in 2023.
I'd be lying if I said I knew everything about PubMatic's business, but I'm far from it.
But the assertion in the November 2023 presentation that “all advertising will be digital and all digital advertising will be programmatic” is spot on, and perhaps not in 2024 or 2025, but somewhere beyond that. There will be crabs.
PubMatic's platform helps you achieve this.
Pubmatic stock set its 27th 52-week high in the past year this morning, trading at $25.36, and is up nearly 50% in 2024 and 90% over the past year. It looks like that momentum will continue.
On Tuesday, Pubmatic reported first-quarter 2024 results, including revenue that rose 20.4% to $66.7 million and non-GAAP earnings per share of $0.03, which Wall Street expected. This included a 6 cent increase over a 3 cent loss.
“Customers and partners like Instacart, Klarna, Roblox, and GroupM choose to build their advertising businesses with PubMatic technology. We've spent 17 years building differentiated solutions. However, while our logo list continues to grow, we believe our competitive edge will further expand,” CEO Rajeev Goel said in a Q1 2024 press release.
Pubmatic ended the first quarter with $174 million in cash and no debt on its balance sheet.
In the second quarter, the company expects revenue to be $70 million and gross margin to increase 500 basis points to 61.9%. This should further increase non-GAAP earnings. For the full year, the company expects revenue of $300 million, up 12% from 2023, at the midpoint of its guidance.
It trades at four times estimated 2023 sales.trade desk (TTD)helps ad buyers manage programmatic ad campaigns and has grown 40x in market cap and 23x in revenue.
International flavors and fragrances
It's been a while since I've written about international flavors and fragrances. (IFF). Its 10-K says of its business:
“We are a leading creator and manufacturer of complementary and adjacent products, including cosmetic actives and natural health ingredients used in food, beverage, health and bioscience, fragrance and pharmaceutical solutions, and a variety of consumer products.” , 2023 10- Mr. K said:
“Our products primarily include dairy products, meat, beverages, snacks, savory, sweet, baked goods and other foods, personal care products, soaps and detergents, cleaning products, perfumes and cosmetics, nutritional supplements, food protection, It is sold to manufacturers of infant products, and other food, nutritional, functional foods, and oral care products for the elderly.
So if you wanted to invent the next great energy drink, you'd go to them to come up with the formula to make your billion dollar idea a reality. Multiply that by a few thousand per year and you'll have $11.5 billion in revenue in 2023.
Looking at stock price trends, IFF has significantly underperformed the S&P 500 over the past five years. While the index is up over 80%, IFF has lost nearly 29% of its value. However, it hit its third high in 52 weeks ($97.19) on Wednesday, and the 2024 return will be close to 20%.
The company's stock has been testing a 52-week high since the company reported decent first-quarter 2024 results on Monday, including revenue up 5% and adjusted EPS of $0.63, up 80%.
however, 17 analysts Only 6 companies (3.53 out of 5.0) that cover the company's stock rate it as a “buy”, and the target price is $86.12, which is significantly lower than the current trading price. There is.
It's easy to see why analysts are skeptical. Over the past two fiscal years, we have recorded nearly $5 billion in non-cash goodwill impairment charges. Net debt as of Q1 2024 was $10.3 billion, equivalent to 42% of market capitalization.
IFF is committed to reducing debt and improving profitability. In the first quarter of 2024, adjusted operating margin increased 330 basis points to 19.9%, higher than the previous five years. At the same time, it reduced its net debt by $1.1 billion (10%) in 2023.
Considering the risks involved in betting on IFF, we can see that options could be a smart way to bet on the company's stock.
The January 17, 2025 $130 call looks promising. If the requested amount is $1.95, the down payment is only 1.5% and it will take 254 days to reach paydirt.
international routes
international routes (in South Wales) We have an easy-to-understand business model. The company gets paid to transport crude oil and chemicals around the world using a fleet of 81 tankers and other vessels.
Spun off from overseas shipbuilding group (OSG) As of 2016, the company's market capitalization was approximately eight times that of its former parent company, OSG. OSG shareholders received 0.3333 INSW shares for each share held in the parent company.
The six analysts covering the company's stock price have set a price target of $64 and rate it a “Strong Buy” (5 out of 5). This is higher than the level it is currently trading at.
International Seaways stock hit $60.38 on Wednesday, its 31st high in 52 weeks. Not surprisingly, the company's stock is up 30% in 2024 and 61% over the past year. The company's stock price did not rise much from 2016 to early 2022, but has generally been on an upward trend since then.
The company's performance in the first quarter of 2024 was slightly lower than a year ago, but there was nothing to lose by sitting on it.
“We continue to share this virtuous cycle with our shareholders by declaring dividends totaling $1.75 per share, representing 60% of our adjusted net income for the first quarter of 2024. As the momentum continues, we also took advantage of attractive opportunities to renew our fleet and strengthen our balance sheet under a new credit facility,” CEO Royce Zablocki said in a press release.
According to S&P Global Intelligence, the company is expected to generate $700 million in adjusted EBITDA in 2024 on sales of $1.03 billion, with a very favorable profit margin of 68.1%, the highest in the past 10 years. It becomes. The company is trading at about 6 times its 2024 EPS estimate of $10.11.
Despite the changing times in the shipping industry, management remains extremely sound.
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On the date of publication, Will Ashworth I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Summarize this content to 100 words
Three weeks can make a huge difference. Three weeks ago, the NYSE just 5 shares It hit a 52-week high compared to 167 on Tuesday. Just on April 16th, 13 Nasdaq Stocks It hit a 52-week high compared to Tuesday's 104-week high. That's a big turning point.As I write this early Wednesday morning, 12 stocks on the New York Stock Exchange have already hit 52-week highs. Here are three things worth considering.
Pubmatic With a name like PubMatic (PUBM), you would half expect it to be related to the brewing industry. Unfortunately, the company's integrated technology platform connects buyers and sellers of digital advertising. We generate revenue through fees charged to publishers based on the percentage of the value of the ad impressions that they monetize on the Pubmatic platform.Other revenue sources include OpenWrap, a header bidding solution, Connect, which provides buyers with additional data and insights, Activate, which allows buyers to execute transactions directly on the platform across a publisher's inventory, and PubMatic's We have Convert, a commerce media solution. The company released the last two models in 2023. I'd be lying if I said I knew everything about PubMatic's business, but I'm far from it. But the assertion in the November 2023 presentation that “all advertising will be digital and all digital advertising will be programmatic” is spot on, and perhaps not in 2024 or 2025, but somewhere beyond that. There will be crabs.
PubMatic's platform helps you achieve this. Pubmatic stock set its 27th 52-week high in the past year this morning, trading at $25.36, and is up nearly 50% in 2024 and 90% over the past year. It looks like that momentum will continue. On Tuesday, Pubmatic reported first-quarter 2024 results, including revenue that rose 20.4% to $66.7 million and non-GAAP earnings per share of $0.03, which Wall Street expected. This included a 6 cent increase over a 3 cent loss.”Customers and partners like Instacart, Klarna, Roblox, and GroupM choose to build their advertising businesses with PubMatic technology. We've spent 17 years building differentiated solutions. However, while our logo list continues to grow, we believe our competitive edge will further expand,” CEO Rajeev Goel said in a Q1 2024 press release. Pubmatic ended the first quarter with $174 million in cash and no debt on its balance sheet. In the second quarter, the company expects revenue to be $70 million and gross margin to increase 500 basis points to 61.9%. This should further increase non-GAAP earnings. For the full year, the company expects revenue of $300 million, up 12% from 2023, at the midpoint of its guidance.
It trades at four times estimated 2023 sales.trade desk (TTD)helps ad buyers manage programmatic ad campaigns and has grown 40x in market cap and 23x in revenue. International flavors and fragrancesIt's been a while since I've written about international flavors and fragrances. (IFF). Its 10-K says of its business:”We are a leading creator and manufacturer of complementary and adjacent products, including cosmetic actives and natural health ingredients used in food, beverage, health and bioscience, fragrance and pharmaceutical solutions, and a variety of consumer products.” , 2023 10- Mr. K said: “Our products primarily include dairy products, meat, beverages, snacks, savory, sweet, baked goods and other foods, personal care products, soaps and detergents, cleaning products, perfumes and cosmetics, nutritional supplements, food protection, It is sold to manufacturers of infant products, and other food, nutritional, functional foods, and oral care products for the elderly.So if you wanted to invent the next great energy drink, you'd go to them to come up with the formula to make your billion dollar idea a reality. Multiply that by a few thousand per year and you'll have $11.5 billion in revenue in 2023.
Looking at stock price trends, IFF has significantly underperformed the S&P 500 over the past five years. While the index is up over 80%, IFF has lost nearly 29% of its value. However, it hit its third high in 52 weeks ($97.19) on Wednesday, and the 2024 return will be close to 20%.The company's stock has been testing a 52-week high since the company reported decent first-quarter 2024 results on Monday, including revenue up 5% and adjusted EPS of $0.63, up 80%. however, 17 analysts Only 6 companies (3.53 out of 5.0) that cover the company's stock rate it as a “buy”, and the target price is $86.12, which is significantly lower than the current trading price. There is. It's easy to see why analysts are skeptical. Over the past two fiscal years, we have recorded nearly $5 billion in non-cash goodwill impairment charges. Net debt as of Q1 2024 was $10.3 billion, equivalent to 42% of market capitalization.IFF is committed to reducing debt and improving profitability. In the first quarter of 2024, adjusted operating margin increased 330 basis points to 19.9%, higher than the previous five years. At the same time, it reduced its net debt by $1.1 billion (10%) in 2023.
Considering the risks involved in betting on IFF, we can see that options could be a smart way to bet on the company's stock. The January 17, 2025 $130 call looks promising. If the requested amount is $1.95, the down payment is only 1.5% and it will take 254 days to reach paydirt. international routes international routes (in South Wales) We have an easy-to-understand business model. The company gets paid to transport crude oil and chemicals around the world using a fleet of 81 tankers and other vessels. Spun off from overseas shipbuilding group (OSG) As of 2016, the company's market capitalization was approximately eight times that of its former parent company, OSG. OSG shareholders received 0.3333 INSW shares for each share held in the parent company. The six analysts covering the company's stock price have set a price target of $64 and rate it a “Strong Buy” (5 out of 5). This is higher than the level it is currently trading at.
International Seaways stock hit $60.38 on Wednesday, its 31st high in 52 weeks. Not surprisingly, the company's stock is up 30% in 2024 and 61% over the past year. The company's stock price did not rise much from 2016 to early 2022, but has generally been on an upward trend since then. The company's performance in the first quarter of 2024 was slightly lower than a year ago, but there was nothing to lose by sitting on it. “We continue to share this virtuous cycle with our shareholders by declaring dividends totaling $1.75 per share, representing 60% of our adjusted net income for the first quarter of 2024. As the momentum continues, we also took advantage of attractive opportunities to renew our fleet and strengthen our balance sheet under a new credit facility,” CEO Royce Zablocki said in a press release. According to S&P Global Intelligence, the company is expected to generate $700 million in adjusted EBITDA in 2024 on sales of $1.03 billion, with a very favorable profit margin of 68.1%, the highest in the past 10 years. It becomes. The company is trading at about 6 times its 2024 EPS estimate of $10.11. Despite the changing times in the shipping industry, management remains extremely sound.
more stock market news from bar chart
On the date of publication, Will Ashworth I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
https://www.nasdaq.com/articles/here-are-3-stocks-to-buy-now-that-52-week-highs-are-back-on-top Here are 3 stocks to buy now that hit new 52-week highs
