Adapt. Improvise. Overcome. These are words that the stock market has come to live by in the age of COVID-19. The S&P 500 and Dow Jones industrial average are still down for the year, but a few choice stocks have fully incorporated this mantra. Although many companies are still in the Adapt phase in dealing with the pandemic, a handful have overcome it fully, and then some.
This coronavirus has rocked the world in more ways than one. It has changed the way that we interact with one another, how we do business, how we have fun and how we spend our time. In a sense, each of these facets is commoditized, and companies that facilitate them the best have seen the biggest payoff from the pandemic.
24/7 Wall St. has picked out a handful of stocks that are the biggest winners from the pandemic thus far. This is not to say that these stocks will go up more or will fall, but analysts are incredibly bullish on all of the names on this list.
Zoom Video Communications Inc. (NASDAQ: ZM) is the biggest winner out of this group, with its stock up over 305% year to date. Zoom has been the brightest star among video conferencing services, which are practically essential in doing business now. The stock closed Monday at $260.30 a share, in a 52-week range of $60.97 to $281.00. The consensus price target is $225.35. The highest target over the past month comes from Robert Baird, which reiterated an Outperform rating and a $300 price target.
Shopify Inc. (NYSE: SHOP) is the next big winner on the list, notching a gain of 159% since the beginning of the year. Many have called this the next Amazon, and at this rate the price seems to be right. Shopify is heavily involved in the e-commerce space and, if anything, the pandemic has accelerated this trend to warp speed. Shopify stock last closed at $968.75, in a 52-week range of $282.08 to $1,074.98. Analysts have a consensus price target of $793.01. The highest target over the past month comes from Goldman Sachs, which reiterated a Neutral rating (go figure) and a $1,127 price target.
Nvidia Corp. (NASDAQ: NVDA) is a major player in the semiconductor industry, and with tech leading the charge higher, semiconductors are coming along with it. Its shares have posted gains of 78% year to date, closing out Monday at $402.09. The stock has a consensus price target of $391.42 and a 52-week range of $147.39 to $431.57. The highest price target over the past month comes from Rosenblatt Securities, which reiterated a Buy rating and a $500 target.
Amazon.com Inc. (NASDAQ: AMZN) is easily one of the most powerful companies on the planet, with its delivery service and cloud infrastructure. More people have opted to buy their goods online than risk going to the store, and Amazon has been the hub for that. The stock closed Monday at $3,104.00, within a 52-week range of $1,626.03 to $3,344.29. The consensus analyst target is $2,834.00. Amazon.com stock is up about 73% year to date. The highest price target over the past month comes from Citigroup, which reiterated a Buy rating and a $3,550 target.
Netflix Inc. (NASDAQ: NFLX) is one of the best ways to pass time when stuck at home, and with its massive content library, it has something for everyone. Shares have gained about 69% year to date. The stock closed Monday at $525.50, in a 52-week range of $252.28 to $575.37. The consensus price target is $463.15. The highest target over the past month comes from Goldman Sachs, which reiterated a Buy rating and a $670 price target.
ServiceNow Inc. (NYSE: NOW) last closed at $407.87 a share, with a consensus price target of $385.17 and a 52-week range of $213.99 to $430.83. The stock has posted gains of 50% since the beginning of 2020. The highest price target over the past month comes from Goldman Sachs, which reiterated a Buy rating and a $538 target.
Adobe Inc. (NASDAQ: ADBE) offers a suite of software as a service programs that have become more necessary as more people have to work from home. It has notched gains of 41% year to date, closing Monday at $442.47. The stock has a 52-week range of $255.13 to $470.61. Analysts have a consensus price target of $424.65. The highest price target over the past month comes from Argus, which reiterated a Buy rating and a $474 price target.
Microsoft Corp. (NASDAQ: MSFT) is one of the big winners from this pandemic, again playing on the stay-at-home and work-from-home economy. Its software suites and cloud infrastructure have been vital in facilitating many home offices. The stock has posted gains of 31% over the course of the year so far. Microsoft stock last closed at $207.07, in a 52-week range of $130.78 to $216.38. The consensus price target is $206.67. The highest target over the past month comes from Wedbush, which reiterated an Outperform rating and a $260 price objective.
Apple Inc. (NASDAQ: AAPL) is the last name on this list, but by no means the least, as it currently has the title of the largest public company on the planet. Its services business and App Store have been the go-to for many bored consumers looking for new apps. Also with Apple’s iPhone 12 coming this fall, the hype is real. Apple stock closed Monday at $381.91, in a 52-week range of $192.58 to $399.82. The consensus price target is $348.19. The share price has added about 31% year to date. Wedbush has the highest price target over the past month. The firm reiterated an Outperform rating and a $425 target.
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