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Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.
The Zacks Premium service makes this easier. It features daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter. All of these can help you quickly identify what stocks to buy, what to sell, and what are today's hottest industries.
Also included in Zacks Premium is the Focus List. This is a long-term portfolio of top stocks that have all the traits to beat the market.
Breaking Down the Zacks Focus List
If you could, wouldn't you jump at the chance for access to a curated list of stocks to kickstart your investing journey?
That's what the Zacks Focus List offers. It's a portfolio of 50 stocks that serve as a starting point for long-term investors to build their individual portfolios. The stocks included in the list are set to outperform the market over the next 12 months.
Additionally, each selection is accompanied by a full Zacks Analyst Report, something that makes the Focus List even more valuable. The report explains in detail why each stock was picked and why we believe it's good for the long-term.
The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.
Focus List Methodology
When stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.
Brokerage analysts are in charge of determining a company's growth and profitability expectations, or earnings estimates. These analysts work together with company management to evaluate all factors that may affect future earnings, like interest rates, the economy, and sector and industry optimism.
What a company will earn down the road also needs to be taken into consideration, and this is why earnings estimate revisions are so important.
The stocks that receive positive changes to earnings estimates are more likely to receive even more upward changes in the future. Take this example: if an analyst raised their estimates last month, they'll probably do so again this month, and other analysts will follow.
Utilizing the power of earnings estimate revisions is when the Zacks Rank joins the party. A unique, proprietary stock-rating model, the Zacks Rank uses changes to quarterly earnings expectations to help investors create a winning portfolio.
The Zacks Rank consists of four main pillars: Agreement, Magnitude, Upside, and Surprise. Each one is given a raw score, which is recalculated every night and compiled into the Rank. Then, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell," using this data.
The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.
Focus List Spotlight: Block (SQ)
Headquartered in San Francisco, CA, Block, formerly known as Square, was incorporated in 2015. The company offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers to start, run and grow their businesses.
SQ, a #3 (Hold) stock, was added to the Focus List on March 28, 2017 at $17.25 per share. Since then, shares have increased 290.32% to $67.33.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.32 to $3.60. SQ boasts an average earnings surprise of 15.5%.
Earnings for SQ are forecasted to see growth of 100% for the current fiscal year as well.
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Zacks Investment Research
Block (SQ) closed the latest trading day at $63.99, indicating a +0.5% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.54% for the day. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.65%.
Heading into today, shares of the mobile payments services provider had lost 0.9% over the past month, lagging the Business Services sector's gain of 7.34% and the S&P 500's gain of 4.86% in that time.
Investors will be eagerly watching for the performance of Block in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.88, marking a 60% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.17 billion, indicating a 9.77% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.60 per share and revenue of $24.52 billion, indicating changes of +100% and +11.89%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Block. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.33% higher. Right now, Block possesses a Zacks Rank of #3 (Hold).
Investors should also note Block's current valuation metrics, including its Forward P/E ratio of 17.69. This denotes a discount relative to the industry's average Forward P/E of 23.36.
Investors should also note that SQ has a PEG ratio of 0.53 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Technology Services industry stood at 1.51 at the close of the market yesterday.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Zacks Investment Research
The cryptocurrency market has been going through a rough patch over the past few weeks. Bitcoin (BTC), the world’s most popular cryptocurrency, has particularly suffered the most in the past two months after hitting an all-time high earlier this year. Several factors have been responsible for Bitcoin’s recent decline, including a broader market selloff in early August.
However, Bitcoin still has a lot of potential, and thinking from the long-term perspective, with the Federal Reserve nearing the end of its monetary tightening campaign, it would be ideal to adopt the buy-the-dip approach. Four Bitcoin-centric stocks with upside potential are Interactive Brokers Group, Inc. IBKR, Block Inc. SQ, NVIDIA Corporation NVDA and Robinhood Markets, Inc. HOOD.
Multiple Factors Hurting Bitcoin Stocks
Bitcoin has been in the bear market for the past two months. The cryptocurrency presently is trading at around $58,091.90, down more than 21% from its all-time high of $73,750 on March 14.
Bitcoin has been rangebound since April, briefly crossing the $65,000 mark in June. Even the halving event in April failed to boost Bitcoin's price. The halving event—which typically reduces the reward for mining new blocks by 50% to cap the total Bitcoin supply at 21 million—tends to drive up demand and prices. However, this time, Bitcoin's value fell significantly after the halving.
The cryptocurrency market took a further blow during the broader market bloodbath in early August that was triggered by fears of a slowing economy. Bitcoin price fell below $55,000 after that. However, Bitcoin has since been trying to stage a comeback but has been rangebound.
Bitcoin Stocks to Benefit From Rate Cuts
Although the Federal Reserve is unlikely to go for a big rate cut following the release of soft inflation data, investors are confident that the central bank will cut interest by at least 25 basis points.
Presently, the CME FedWatch tool shows a 100% probability of a 25-basis point interest rate cut in the Fed’s September FOMC meeting. For November, market experts predict a 100% chance that the total (year-to-date) rate cut will be 50 basis points and a 94.4% possibility that it will reach 75 basis points.
Any size of rate cut bodes well for growth assets like cryptocurrencies as they reduce the opportunity cost of holding assets that don’t provide yields. In a low-interest-rate environment, investors are more inclined to seek assets with higher potential returns, even if they involve greater risk.
4 Crypto-Centric Stocks With Upside Potential
We have narrowed our search to four crypto-oriented stocks that have strong potential for 2024. Each of our picks carries either a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Interactive Brokers Group
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.
Interactive Brokers Group has an expected earnings growth rate of 18.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.6% over the last 60 days. IBKR currently carries a Zacks Rank #3.
Block
Block is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of the Cash App can buy, sell, send and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains. SQ is also one of the largest Bitcoin investors.
Block has an expected earnings growth rate of 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 9.8% over the past 60 days. SQ currently carries a Zacks Rank #3.
NVIDIA
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, NVDA’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
NVIDIA has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.5% over the past 60 days. NVDA presently carries a Zacks Rank #3.
Robinhood Markets
Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets’ expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 38.2% over the past 60 days. Robinhood Markets currently carries a Zacks Rank #2.
Zacks Investment Research
For Immediate Release
Chicago, IL – September 13, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Robinhood Markets Inc. HOOD, Coinbase Global Inc. COIN, NVIDIA Corp. NVDA, Interactive Brokers Group Inc. IBKR and Block Inc. SQ.
Here are highlights from Thursday’s Analyst Blog:
Watch 5 Bitcoin-Centric Stocks Set to Gain from the Next Rally
The cryptocurrency market suffered a severe blow in the past one and a half months. Bitcoin (BTC), the largest cryptocurrency globally, hit an all-time high of $73,750 on March 14. However, the broader market bloodbath from early August saw cryptocurrencies suffering. Consequently, Bitcoin fell to below $55,000. At present, Bitcoin is trading around $57,940, a 21.4% discount to its all-time high.
Nevertheless, investors should think from a long-term perspective. The Fed is undoubtedly approaching the end of the higher rate regime. A low interest rate is beneficial to high growth-oriented industries such as technology, consumer discretionary and cryptocurrency.
We believe that investors should accumulate bitcoin using a buy-on-the-dip strategy. Every dip in the bitcoin price will be a good purchasing point in order to gain handsomely once the Fed’s tighter monetary control comes to an end.
At this stage, investors should carefully watch bitcoin-centric stocks. Five such stocks are — Robinhood Markets Inc., Coinbase Global Inc., NVIDIA Corp, Interactive Brokers Group Inc. and Block Inc.
Near-Term Positive for Bitcoin
Following the release of a series of weak economic data for July and August, especially the labor market data, the CME FedWatch tool currently shows a 100% probability of a 25-basis point interest rate cut in September.
For November, market participants estimate a 100% probability that the total (year-to-date) rate cut will be 50 basis points and a 94.4% probability that the total rate cut will be 75 basis points. Likewise for December, market participants estimate a 100% probability that the total rate cut will be 75 basis points and a 79.7% probability that the total rate cut will be 1% in 2024.
Five Bitcoin-Centric Stocks in Focus
Robinhood Markets Inc.
Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform. Robinhood Markets carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Solid Price Appreciation Potential for HOOD Stock
At present, the short-term average price target of brokerage firms for the stock represents an increase of 15.9% from the last closing price of $20.64. The brokerage target price is currently in the range of $9.5-$32.
Coinbase Global Inc.
Coinbase provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN offers the primary financial account in the crypto space for consumers, a marketplace with a pool of liquidity for transacting in crypto assets for institutions, and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global currently carries a Zacks Rank #3 (Hold).
Astonishing Price Appreciation Potential for COIN Stock
At present, the short-term average price target of brokerage firms for the stock represents a jump of 56.9% from the last closing price of $157.15. The brokerage target price is currently in the range of $160-$345.
NVIDIA Corp.
NVIDIA is a semiconductor industry giant and one of the biggest success stories of 2023 and 2024. As a leading designer of graphic processing units (GPUs), the NVDA stock usually soars on a booming crypto market. This is because GPUs are pivotal to data centers, artificial intelligence, and the creation of crypto assets. NVIDIA currently carries a Zacks Rank #3.
Attractive Price Appreciation Potential for NVDA Shares
At present, the short-term average price target of brokerage firms for the stock represents a rise of 38.1% from the last closing price of $116.91. The brokerage target price is currently in the range of $90-$200.
Interactive Brokers Group Inc.
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures. IBKR currently carries a Zacks Rank #3.
Strong Price Appreciation Potential for IBKR Shares
At present, the short-term average price target of brokerage firms for the stock represents an increase of 13.4% from the last closing price of $122.77. The brokerage target price is currently in the range of $100-$180.
Block Inc.
Block is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of the Cash App can buy, sell, send and receive Bitcoin.
In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications that run on programmable blockchains. SQ is also one of the largest Bitcoin investors. SQ currently carries a Zacks Rank #3.
Impressive Price Appreciation Potential for SQ Stock
At present, the short-term average price target of brokerage firms for the stock represents a surge of 41.2% from the last closing price of $63.38. The brokerage target price is currently in the range of $40-$100.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
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Zacks Investment Research
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research
The cryptocurrency market suffered a severe blow in the past one and a half months. Bitcoin (BTC), the largest cryptocurrency globally, hit an all-time high of $73,750 on March 14. However, the broader market bloodbath from early August saw cryptocurrencies suffering. Consequently, Bitcoin fell to below $55,000. At present, Bitcoin is trading around $57,940, a 21.4% discount to its all-time high.
Nevertheless, investors should think from a long-term perspective. The Fed is undoubtedly approaching the end of the higher rate regime. A low interest rate is beneficial to high growth-oriented industries such as technology, consumer discretionary and cryptocurrency.
We believe that investors should accumulate bitcoin using a buy-on-the-dip strategy. Every dip in the bitcoin price will be a good purchasing point in order to gain handsomely once the Fed’s tighter monetary control comes to an end.
At this stage, investors should carefully watch bitcoin-centric stocks. Five such stocks are — Robinhood Markets Inc. HOOD, Coinbase Global Inc. COIN, NVIDIA Corp. NVDA, Interactive Brokers Group Inc. IBKR and Block Inc. SQ.
Near-Term Positive for Bitcoin
Following the release of a series of weak economic data for July and August, especially the labor market data, the CME FedWatch tool currently shows a 100% probability of a 25-basis point interest rate cut in September.
For November, market participants estimate a 100% probability that the total (year-to-date) rate cut will be 50 basis points and a 94.4% probability that the total rate cut will be 75 basis points. Likewise for December, market participants estimate a 100% probability that the total rate cut will be 75 basis points and a 79.7% probability that the total rate cut will be 1% in 2024.
Five Bitcoin-Centric Stocks in Focus
Robinhood Markets Inc.
Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform. Robinhood Markets carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Solid Price Appreciation Potential for HOOD Stock
At present, the short-term average price target of brokerage firms for the stock represents an increase of 15.9% from the last closing price of $20.64. The brokerage target price is currently in the range of $9.5-$32.
Coinbase Global Inc.
Coinbase provides financial infrastructure and technology for the crypto economy in the United States and internationally. COIN offers the primary financial account in the crypto space for consumers, a marketplace with a pool of liquidity for transacting in crypto assets for institutions, and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global currently carries a Zacks Rank #3 (Hold).
Astonishing Price Appreciation Potential for COIN Stock
At present, the short-term average price target of brokerage firms for the stock represents a jump of 56.9% from the last closing price of $157.15. The brokerage target price is currently in the range of $160-$345.
NVIDIA Corp.
NVIDIA is a semiconductor industry giant and one of the biggest success stories of 2023 and 2024. As a leading designer of graphic processing units (GPUs), the NVDA stock usually soars on a booming crypto market. This is because GPUs are pivotal to data centers, artificial intelligence, and the creation of crypto assets. NVIDIA currently carries a Zacks Rank #3.
Attractive Price Appreciation Potential for NVDA Shares
At present, the short-term average price target of brokerage firms for the stock represents a rise of 38.1% from the last closing price of $116.91. The brokerage target price is currently in the range of $90-$200.
Interactive Brokers Group Inc.
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures. IBKR currently carries a Zacks Rank #3.
Strong Price Appreciation Potential for IBKR Shares
At present, the short-term average price target of brokerage firms for the stock represents an increase of 13.4% from the last closing price of $122.77. The brokerage target price is currently in the range of $100-$180.
Block Inc.
Block is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of the Cash App can buy, sell, send and receive Bitcoin.
In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications that run on programmable blockchains. SQ is also one of the largest Bitcoin investors. SQ currently carries a Zacks Rank #3.
Impressive Price Appreciation Potential for SQ Stock
At present, the short-term average price target of brokerage firms for the stock represents a surge of 41.2% from the last closing price of $63.38. The brokerage target price is currently in the range of $40-$100.
The chart below shows the price performance of above-mentioned five Bitcoin-centric stocks in the past three months.
Zacks Investment Research
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