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Company profile

American Acquisition Opportunity Inc. is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. It has not selected any specific business combination target and has not engaged in any substantive discussions, directly or indirectly, with any business combination target. The Company intends to focus its search for prospects within the land and resource holding company industry. The Company neither engages in any business operations nor generates any revenues.

Closing Price
$10.17
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
1

10-day average volume:
366
1

30 stocks that shined in the pandemic are still poised for huge growth through 2024

7:16 am ET September 1, 2021 (MarketWatch)
Print

By Philip van Doorn

Zoom, Plug Power, Roku and other companies that were pandemic winners are expected by analysts to report 20%-plus sales growth for at least three years

"Sell on the good news."

How many times have you heard that term used? It happens frequently when a company announces results that are better than analysts had expected because some investors begin to believe things can only get worse. But such thinking might lead to selling too early and missing out on lucrative gains down the road.

Such might be the case with Zoom Video Communications Inc. (ZM), which said Aug. 30 that sales for its fiscal second quarter ended July 31 had increased 54% from a year earlier. It beat consensus estimates for sales and profit. The following day, the company's shares were down 16%.

Zoom has been one of the biggest winners during the Covid-19 pandemic, which made remote work a necessity for millions and video conferences -- often making use of Zoom's user-friendly platform -- a must. The company's stock rose 411% from the end of 2019 through the close Aug. 30.

Below is a screen of stocks that have at least doubled during the pandemic and are expected to increase sales quickly through 2024.

So what was the problem with Zoom? One thing that may have disappointed investors was that the company's forecast for earnings for its fiscal third quarter was $1.07 to 1.08 a share, while analysts polled by FactSet had anticipated guidance of $1.10 a share. That may be splitting hairs for a company whose main focus is sales growth.

Read:Zoom's pandemic boom cools -- but the company is building a powerful platform to battle Microsoft and Cisco

Digging further, Mizuho Americas analyst Siti Panigrahi wrote in a note to clients that "churn rising earlier-than-expected" among small businesses with fewer than 10 employees led to the lower-than-expected guidance. Panigrahi maintained a "buy" rating on Zoom but cut his price target for the shares to $350 from $400. Even the lower price target would represent 20% upside within a year from the stock's closing price of $292.08 on Aug. 30.

And something else that may be of interest is that analysts, based on consensus estimates in a FactSet survey, expect the company's sales to increase at a high compound annual growth rate of 21.7% for the next three calendar years.

Pandemic winners expected to keep ... winning

Starting with the components of the Russell 1000 Index , 141 stocks have at least doubled since the end of 2019 -- a fair point from which to measure performance that encompasses the entire pandemic, without starting after so many stocks tanked in February 2020. Among those 141, consensus sales estimates are available from FactSet through calendar 2024 for 85 companies. We are using calendar years for the estimates because a large number of companies (including Zoom) have fiscal years that don't match the calendar.

Here are the 30 companies whose stocks have at least doubled since the end of 2019 that are expected to achieve the highest compound annual growth rates (CAGR) for sales, through 2024. Revenue numbers are in millions:

Company  Expected three-year sales CAGR  Estimated revenue -- 2021  Estimated revenue -- 2022  Estimated revenue -- 2023  Estimated revenue -- 2024 
Virgin Galactic Holdings Inc. SPCE  410.3%  $2  $14  $65  $265 
Acceleron Pharma Inc. XLRN  62.7%  $133  $203  $318  $571 
ChargePoint Holdings Inc. Class A CHPT  62.0%  $202  $336  $555  $860 
Plug Power Inc. PLUG  50.0%  $499  $756  $1,149  $1,687 
Zillow Group Inc. Class C Z  42.6%  $6,595  $9,910  $14,461  $19,130 
Carvana Co. Class A CVNA  37.2%  $11,857  $15,523  $20,839  $30,607 
DraftKings Inc. Class A DKNG  34.7%  $1,278  $1,762  $2,398  $3,121 
Roku Inc. Class A ROKU  33.9%  $2,843  $3,876  $5,068  $6,829 
Okta Inc. Class A OKTA  33.7%  $1,189  $1,633  $2,154  $2,843 
CrowdStrike Holdings Inc. Class A CRWD  32.2%  $1,321  $1,809  $2,389  $3,052 
Pinterest Inc. Class A PINS  31.2%  $2,616  $3,430  $4,635  $5,906 
Freshpet Inc. FRPT  31.1%  $446  $580  $756  $1,005 
10x Genomics Inc. Class A TXG  30.4%  $498  $687  $903  $1,105 
Trade Desk Inc. Class A TTD  30.3%  $1,170  $1,510  $1,930  $2,587 
Zscaler Inc. ZS  29.8%  $762  $1,017  $1,317  $1,668 
Globant S.A. GLOB  29.0%  $1,235  $1,568  $1,944  $2,654 
Ultragenyx Pharmaceutical Inc. RARE  28.5%  $356  $407  $508  $755 
Atlassian Corp. PLC Class A TEAM  26.8%  $2,315  $2,836  $3,598  $4,714 
EPAM Systems Inc. EPAM  26.4%  $3,665  $4,627  $5,731  $7,394 
Tesla Inc. TSLA  26.2%  $50,185  $67,838  $82,652  $100,867 
Elastic N.V. ESTC  25.9%  $746  $953  $1,206  $1,489 
Peloton Interactive Inc. Class A PTON  25.7%  $4,697  $6,141  $7,785  $9,327 
Enphase Energy Inc. ENPH  24.6%  $1,336  $1,793  $2,232  $2,584 
ServiceNow Inc. NOW  22.8%  $5,841  $7,310  $9,121  $10,818 
Etsy Inc. ETSY  22.4%  $2,280  $2,747  $3,351  $4,179 
Floor & Decor Holdings Inc. Class A FND  22.3%  $3,339  $4,007  $4,874  $6,106 
Novavax Inc. NVAX  22.0%  $1,984  $5,493  $3,048  $3,607 
Zoom Video Communications Inc. Class A ZM  21.7%  $3,894  $4,667  $5,489  $7,027 
DexCom Inc. DXCM  21.5%  $2,398  $2,915  $3,527  $4,306 
PayPal Holdings Inc. PYPL  20.9%  $25,753  $31,558  $38,229  $45,484 
Source: FactSet 

Click on the tickers for more about each company, including news, business profiles and price ratios.

The problem with a stock screen based on any one number is that the results might be skewed. Virgin Galactic Holdings Inc. (SPCE) is expected to show revenue of only $2 million for calendar 2021, and its estimate for 2024 is the lowest on the list. As you can see below, only 36% of analysts polled by FactSet rate Virgin Galactic a "buy" or the equivalent.

This underscores the importance of doing your own research on any investment of interest. For a stock, consider how likely the company is to be able to remain competitive over the next decade.

Leaving the group in the same order, here's a summary of analysts' opinions and, to the right, total returns for the stocks since the end of 2019:

Company  Share "buy" ratings  Closing price -- Aug. 30  Consensus price target  Implied 12-month upside potential  Total return -- Dec. 31, 2019, through Aug. 31, 2021 
Virgin Galactic Holdings Inc. SPCE  36%  24.88  $34.82  40%  115% 
Acceleron Pharma Inc. XLRN  79%  132.76  $154.50  16%  150% 
ChargePoint Holdings Inc. Class A CHPT  88%  20.89  $36.00  72%  112% 
Plug Power Inc. PLUG  65%  26.13  $40.68  56%  727% 
Zillow Group Inc. Class C Z  65%  96.10  $162.42  69%  109% 
Carvana Co. Class A CVNA  59%  337.76  $380.23  13%  267% 
DraftKings Inc. Class A DKNG  67%  59.25  $69.93  18%  454% 
Roku Inc. Class A ROKU  75%  355.90  $483.09  36%  166% 
Okta Inc. Class A OKTA  65%  264.98  $276.77  4%  130% 
CrowdStrike Holdings Inc. Class A CRWD  92%  286.37  $288.78  1%  474% 
Pinterest Inc. Class A PINS  50%  56.49  $71.43  26%  203% 
Freshpet Inc. FRPT  71%  127.10  $177.00  39%  115% 
10x Genomics Inc. Class A TXG  90%  173.75  $203.25  17%  128% 
Trade Desk Inc. Class A TTD  65%  80.71  $88.23  9%  211% 
Zscaler Inc. ZS  67%  278.17  $256.24  -8%  498% 
Globant S.A. GLOB  92%  322.60  $304.78  -6%  204% 
Ultragenyx Pharmaceutical Inc. RARE  63%  95.79  $143.67  50%  124% 
Atlassian Corp. PLC Class A TEAM  64%  366.03  $343.53  -6%  204% 
EPAM Systems Inc. EPAM  71%  636.30  $661.50  4%  200% 
Tesla Inc. TSLA  44%  730.91  $701.14  -4%  774% 
Elastic N.V. ESTC  83%  159.03  $184.06  16%  147% 
Peloton Interactive Inc. Class A PTON  77%  101.48  $130.42  29%  257% 
Enphase Energy Inc. ENPH  63%  177.78  $199.52  12%  580% 
ServiceNow Inc. NOW  88%  641.65  $665.96  4%  127% 
Etsy Inc. ETSY  76%  217.71  $215.93  -1%  391% 
Floor & Decor Holdings Inc. Class A FND  87%  122.02  $136.36  12%  140% 
Novavax Inc. NVAX  67%  233.23  $264.20  13%  5,760% 
Zoom Video Communications Inc. Class A ZM  50%  347.50  $376.65  8%  411% 
DexCom Inc. DXCM  79%  521.54  $517.55  -1%  138% 
PayPal Holdings Inc. PYPL  87%  288.47  $332.83  15%  167% 
Source: FactSet 

Don't miss:These stocks can defend your investment portfolio from inflation

-Philip van Doorn

	

(END) Dow Jones Newswires

September 01, 2021 07:16 ET (11:16 GMT)

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