Volatile markets amid ongoing macroeconomic issues have created a turmoil for investors to invest in the market. To name a few, the Russian-Ukrainian war, supply chain disruptions, rising commodity prices, resurgence of COVID-19, and labor issues are a few. -some of the factors that have negatively clouded the minds of investors.
Additionally, high inflation and rising interest rates added fuel to the fire, indicating a slowing economy.
As a result, the S&P 500 (SPX) has increased by more than 20% since the beginning of the year.
In such a scenario, the insightful tools of TipRanks can come in handy. Use of SEMrush Holdings Data (SEMR), the world’s largest website usage monitoring service, TipRanks Website Traffic Tool offers an estimate of consumer visits to company websites and its correlation to the price of stock.
An increase in traffic to a company’s website indicates consumer optimism towards the company, and vice versa.
Let’s take a look at the fundamentals of two valuable stocks with rising website trends and strong prospects.
Colorado-based Crocs manufactures and markets comfortable footwear, apparel and accessories for everyone.
With a market capitalization of $2.95 billion, the company operates in the Americas, Asia-Pacific, Europe, Middle East and Africa (EMEA).
Trapped in the market selloff, Crocs is hovering near its 52-week low. Nonetheless, the strong first quarter results on rising customer demand reflect the underlying strength of Crocs. This, in turn, indicates that the company is well positioned to create long-term shareholder value.
As a result, investors buying the dips may view Crocs as an attractive buying opportunity at the current price level (down 63.7% YTD).
Encouragingly, Crocs CEO Andrew Rees said in the first quarter earnings release, “Consumer demand remains strong, giving us the confidence to raise our revenue outlook for the full year at approximately $3.5 billion, an adjusted operating margin of 26% to 27% and diluted diluted earnings per share at $10.05 to $10.65.
After the first quarter earnings release, Williams Trading analyst Sam Poser maintained a buy rating on Crocs with a price target of $200. Poser’s price target implies an upside potential of 317.1% over the next 12 months.
On TipRanks, we noticed an upward trend in website traffic on the website traffic tool. In April and May, total visits to Crocs websites trended upwards, globally, representing jumps of 82.99% and 151.97%, respectively, from year to year. Additionally, year-to-date website growth, compared to year-to-date website growth, was 151.89%.
This, in turn, indicates that the company may report upbeat results in the second quarter.
Overall, the rest of the street is cautiously bullish on the stock, with a moderate buy consensus rating based on four buys and three holds. Crocs average price target of $95 implies 98.12% upside potential.
SoFi Technologies, Inc. (NASDAQ: SOFI)
With a market cap of $4.95 billion, SoFi Technologies is an online personal finance company and online bank. It offers a portfolio of financial products such as mortgages, personal loans, student and auto loan refinances, credit cards, banking and investments.
In addition to macro issues, Sofi has experienced a number of corporate headwinds. The extended student loan moratorium and the government-imposed pause on student loan repayments have impacted the company’s finances.
Nonetheless, SoFi’s growing customer base and strong products reflect long-term growth prospects. In addition, rising interest rates should benefit the company.
The company showed resilience in its first quarter results. Adjusted net revenue increased 49% year-over-year driven by outstanding performance across all segments. In addition, the total number of members and products showed strong double-digit growth.
Looking ahead, SoFi CEO Anthony Noto said, “Our strong growth momentum in membership, product and cross-purchase also reflects the success we have had in building the SoFi brand over the past year. last year. We are committed to investing more in product and brand marketing once we achieve appropriate scale and unit economics last year. »
As a result, SoFi could be a strong bet for investors buying the dips, given its current price level and strong fundamentals.
Recently, Mizuho Securities analyst Dan Dolev maintained a bullish position on SOFI and set a price target of $9 (66.36% upside potential).
Dolev commented, “We remind investors that the CEO built the business in a very turbulent environment, and he is confident he can do it again. We continue to believe that SoFi’s diversified revenue streams, sustainable business model and Galileo’s BaaS offerings should benefit its long-term fundamentals. »
The rest of the street is cautiously bullish on the stock, with a moderate buy consensus rating based on seven buys and five holds. The average SoFi price target of $9.71 implies a potential upside of 79.48% from current levels. The shares have lost 65.5% since the start of the year.
An upward trend in website clicks can also be seen on the online traffic tool. In April and May, the total number of visits to the Company’s website showed an upward trend, globally, representing a year-over-year increase of 221.83% and 250 .27%, respectively, indicating strong results in the June quarter. Additionally, the website’s year-to-date growth, compared to the website’s year-to-date growth, was 321.09%.
In today’s turbulent markets, investors seem to be in troubled waters when it comes to making sound investments. Therefore, website trends that visualize the popularity of stocks can be useful. Analysts expect both stocks, SoFi and Crocs, to rise sharply from their current levels, which also reflects an increase in website clicks.
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