Add These Battered Growth Names To Your Watchlist

Looming uncertainty has led to recent wild bouts of volatility that analysts warn could continue to play out over the next couple of weeks.  Especially because we don’t have answers about how impactful supply chain disruptions will be on company earnings or the global oil supply’s impact on the economic recovery and inflation.  We seem to be on the cusp where many factors could impact economic growth.  To that extent, it’s wise to have exposure to companies that will be able to grow, even if the economy doesn’t recover as quickly as we think it might.  

The three growth stocks featured in today’s watchlist have taken a hit recently and are each down more than 10% from their highs.  Analysts are saying the sell-off for these names has been overdone, and the tides could change in the coming weeks, meaning now is the time to put these tickers on your radar.    

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Payments giant PayPal Holdings (PYPL) share price is down 15% from its February 5th record close of $304.79.  The fintech leader offers payment solutions through its platforms, including PayPal, PayPal Credit, Venmo, and Braintree products.  

PayPal’s annual revenue grew from $9.24 billion in 2015 to $21.45 billion in 2020, as its number of active accounts rose from 179 million to 377 million.  It ended the second quarter of 2021 with 403 million active accounts, and it expects its revenue to rise about 20% to $25.75 billion for the full year.  By 2025, PayPal expects to double its annual revenue to over $50 billion nearly.  Between 2021 and 2025, it expects earnings to rise at a CAGR of 22% and for its annual free cash flow to increase to almost double to over $10 billion.    

The current consensus among 47 polled analysts is to Buy PYPL stock.  There are 40 Buy ratings, 6 Hold ratings, and only 1 Sell rating for the stock.  A median 12-month price target of $330 represents a 29% upside from the current price.  

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Israel-based SolarEdge Technologies (SEDG) share price has rocketed 15% since last Friday, but it’s still down 18% since its record close of $365.97 from January 7th.  

SolarEdge technology is some of the most respected in the industry, primarily due to the fantastic they’ve done in reinvesting in the business.  This is especially true when it comes to its inverters, where it is hands down the market leader.  Its solar photovoltaic (PV) inverter systems are being installed in more than 133 countries across five continents.  

Climate change is an important global issue right now.  SEDG share price will likely rise even more over the next few years as more residential and solar properties switch to solar power.  

The current consensus among 25 polled analysts is to Buy SEDG stock.  17 rate the stock a Buy, 5 call it a Hold, and only 3 analysts say to Sell SEDG.  The 21 analysts offering 12-month price forecasts for SolarEdge have a median target of $340, representing a 13% increase from its current price.  

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It’s been a bumpy road lower for Amazon.com (AMZN) since the share price hit its July 13th all-time high of $3,731.41.  On October 4th, the stock briefly turned negative for the year but has been able to recover some of those losses.  Still, the stock is down more than 12% since its high and is currently trading in the $3,200 range.  Now could be the perfect time to bet on Amazon.com’s next move.

A median 12-month target of $4,105 represents a 26% increase from its current price.  Among 52 analysts offering recommendations for AMZN, 50 rate the stock a Buy, and 2 rate it a Hold.  There are no Sell recommendations for the stock.  

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