Several standout stocks have resumed their uptrend and are exhibiting relatively surprising strength in the growth space, meaning savvy investors should take note. Let’s take a look at 3 growth stocks that are showing market leadership at this time.
April 10, 2021
4 minutes of reading
This story originally appeared on MarketBeat
What makes a real market leader? From a fundamental perspective, companies with extraordinary earnings and sales growth that continually capture market share from competitors are certainly consistent with the bill, as well as leading firms in their respective industries . Another way to consider market leadership is to identify stocks that are in a strong uptrend that might indicate institutional buying from mutual funds, banks, and other discerning investors.
With the massive rally in growth stocks taking place earlier this year, it’s interesting to see which companies are recovering fastest. Several standout stocks have resumed their uptrend and are exhibiting relatively surprising strength in the growth space, meaning savvy investors should take note. Let’s take a look at 3 growth stocks that are showing market leadership at this time.
Shift4 Payments Inc (NYSE: FOUR)
The stock rallied more than 17% in April and hit a new all-time high last week, which is noteworthy because many of the most popular growth stocks are still high. Shift4 Payments is a leading integrated payment processing and technology solution provider. It’s a popular name in the payments space as it offers technology that connects both e-commerce and traditional merchants with tons of different back-end payment processors.
The company’s technology is used to power more than 350 software vendors in a variety of industries. Stock is also a solid open again because many of its clients belong to sectors hit by the pandemic, including restaurants and hotels. Shift4 Payments has seen a recent increase in transaction volume including the recently reported end of March payment volume of $ 3.3 billion, a 40% increase over February and 82% over with the same period last year. It’s a unique bull-run stock that stands out thanks to its recent market power, which is a big reason why investors should include it on their future shopping list.
Snapchat (NYSE: SNAP)
Another growth stock that has recovered very quickly from the recent market decline is Snapchat. This is a company that has created a unique social media platform to help people communicate with short videos and pictures. Every one of the short videos or pictures is captured in the app called Snap, and Snapchat constantly encourages users to create and contribute more content with our unique camera filters.
When you think about how advertising has evolved online, it’s easy to see the potential of a company with a large social media platform continuing to grow at a rapid rate. Snapchat has grown a loyal following, comprising 265 million daily active users and more than 5 billion snaps generated on average per day. Last quarter, the company posted 20% year-on-year growth in daily active users and saw revenue increase 62% year-on-year to $ 911 million. . Consider the upside potential here if Snapchat finds new ways to monetize its platform or be acquired in the coming months. Stocks rallied more than 16% in April and are worth looking at during pullbacks or consolidation periods.
Square (NYSE: SQ)
It’s hard to deny that Square has been one of the market leaders in terms of growth over the past year, which is why the stock should be one of the first options on our shopping list. friend. square was up 14% in April and is an attractive option in the fintech space for a number of reasons. As a payment and point of sale company for merchants, Square is well-positioned to benefit from the widespread change to electronic payments. The company’s Cash app is also an interesting component of its business, as it provides a person-to-person payment network that helps consumers process their financial transactions with ease. .
The company reported fourth-quarter net sales of $ 3.16 billion, up 141% year-on-year and also recently announced that after one year of COVID-19, the market share of non-cash businesses has more than doubled. That is exactly the kind of statistics shareholders love to hear. It is also interesting to note that Square offers investors crypto exposure, as the company bought $ 170 million in bitcoin in February this year. The bottom line here is that Square is a hyper-growth company with a lot of operations in its favor, which is why it is a continued market-leading stock.