As we close the books on 2018, many investors are probably thinking, “Out with the old, in with the new!”. It is quite possible that many traders skipped the viewing of Time Square on New Year’s Eve, as they saw the stock market drop the ball on numerous occasions in 2018. This week, we are going to be using the Stock Score Report screener to find five of the top stocks to start the new year off right.
The Stock Score Report uses a combination of technical and fundamental data to rank stocks, bringing stocks to the forefront that have the most upside potential. Strong technical scores represent a stock’s recent trading strength. When adding in a company’s fundamental data, the Stock Score Report can help to locate stock’s that are outperforming the market and have a solid chance to follow on recent strength.
As the market attempts to bounce back after closing 2018 in the red, it can be a great buying opportunity to buy low and sell high. Let’s look at five of the top stocks to get the ball rolling in 2019.
The Meet Group, Inc. (MEET)
The Meet Group operates various mobile social entertainment apps for users to connect and chat with each other, in the company’s effort to fulfill the universal need for human connection. The company’s primary apps are MeetMe, LOVOO, Skout, and Tagged, and are available across a wide variety of devices in multiple languages. The stock is currently trading at $4.63 and has an average analysts’ rating of “Strong Buy”, with a median target price of $6.58.
MEET gets an overall rating of 98, with a perfect short-term score of 100 and a near-perfect fundamental score of 98. On December 18, 2018, the company announced plans for new features across multiple apps and provided updates on live-streaming video and advertising results, stating that these new features will help to boost their growing live video revenue. MEET is up 37.96% in the past 5 years and has growth estimates of more than 20% over the next 5 years.
QuinStreet, Inc. (QNST)
QuinStreet has been at the top of the Stock Score Report rankings for well over a month and currently holds an overall score of 96. The internet marketing company maintains an average analysts’ recommendation of “Strong Buy”, with a fundamental score of 94 and median target price of $18.55. QNST scores highly in both short- and long-term technicals, holding a near-perfect long-term technical score of 99. QuinStreet has consistently posted earnings beats since late 2017 and saw an earnings per share growth rate of 75% in the previous quarter, with growth rate estimates over 112% during the next 5 years. QNST is estimated to release quarterly earnings on January 30th, 2019.
Chart Industries, Inc. (GTLS)
Chart Industries manufactures and sells engineered equipment used in the production, storage, and end use of hydrocarbon and industrial gases. The company operates in the segments of Energy & Chemical, Distribution & Storage, and Biomedical, offering start-to-finish temperature-controlled storage systems for the global liquid gas supply chain. GTLS currently holds an overall score of 94 and the company has an estimated earnings date of February 28, 2019.
GTLS currently trades at $64.98, which is puts the stock up over 38% since the beginning of 2018. Chart Industries was upgraded from In-line to Outperform at Evercore ISI on December 18th and currently holds a fundamental score of 94. GTLS has a median analysts’ target price of $88.50 and gets a high score of 97 in short-term technicals.
MiX Telematics Ltd (MIXT)
MiX Telematics provides fleet and mobile asset management solutions through software-as-a-service to customers across the globe. Their products and services offer solutions for safety, compliance, and security for fleet operators by collecting and transmitting driver performance and behavior data. MIXT is currently trading at $15.71. The stock has an analysts’ average rating of “Moderate Buy”, with a median target price of $26.50, which is over 68% above the stock’s current trading price. MIXT has a very high fundamental score of 97 and an overall stock score of 93. On December 13, 2018, MiX Telematics announced that it was selected by a large Brazilian dairy company to address their safety, security, efficiency and compliance requirements. On November 1st, the company reported quarterly earnings, beating consensus estimates on both earnings per share and revenue. MiX Telematics is estimated to report quarterly earnings again on February 4th, 2019.
PCM, Inc. (PCMI)
We looked at PCMI a few weeks ago, and it continues to be a high scoring stock that’s consistently been showing up in the Stock Score Report. PCM, Inc. is a direct marketing company that provides technology products and services, as well as offering IT and could-based solutions for their customers. PCMI gets a score of 92 across the board and maintains an analyst average recommendation of “Strong Buy’, with a median target price of $25.60, which is 40% higher than the stock’s current price of $18.24. PCMI is currently trading over 84% higher since the beginning of 2018.