Company / Analytics

Analytics, 17 February 2023

Best Stocks To Watch Now

If you’re looking for the best stocks to buy, you will want to have the stomach for volatility. These kinds of Stocks are inherently volatile, but mixing in the broader stock market environment can quickly amplify the price movement. In the stock market today, there are plenty of things to weigh against your trading game plan.

However, there is good news for the patient, long-term investors. With the market showing signs of recovery, there are plenty of solid companies out there likely to grow in the long term, negating temporary headwinds.

After a year where the Nasdaq-100 Technology Sector index fell 40%, many of the world’s most valuable companies started 2023 at a disadvantage. However, the new year has pumped optimism back into Wall Street. The roller coaster ride many stocks have been on over the last year has highlighted the importance of investing in growth stocks.

This article discusses three companies that have been making waves in their respective industries: CrowdStrike Holdings, Inc., Albemarle Corporation, and Snowflake Incorporated. Each has demonstrated innovation and resilience in its approach to solving unique challenges in its industries, causing a co-current spike in its stock prices.

CrowdStrike Holdings, Inc.

CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas. It provides cloud workload and endpoint security, threat intelligence, and cyber attack response services. Its team is made up of world-class experts making it a one-agent answer to all cybersecurity issues. The company has been involved in investigations of several high-profile cyberattacks, including the 2014 Sony Pictures hack, the 2015–16 cyber attacks on the Democratic National Committee (DNC), and the 2016 email leak involving the DNC.

Wall Street remains optimistic about the stock due to its growing customer base and the company’s initiatives to add new products and services to its lineup. The company offers packages such as Falcon, Prevent, and Insight XDR among others. The main services are to prepare and train any team or organization to defend against cyber attacks and respond and fortify their cybersecurity, all with the help of this one agent. It, therefore, comes as no surprise that the company commands a Strong Buy consensus rating based on 32 Buy and five Hold recommendations.

The stock is currently trading at 120 U.S. dollars with a year-to-date rise of 16.69%. It is currently on an upward incline after experiencing a troubling fall of -34.24% in the past 12 months. This was caused mostly by the Market troubles experienced last year.

Albemarle Corporation

Albemarle Corporation is a specialty chemicals manufacturing company based in Charlotte, North Carolina. It operates 3 divisions: lithium, bromine specialties, and catalysts. As of 2020, it was the largest provider of lithium for electric vehicle batteries.

Albemarle, Sociedad Química y Minera, and FMC Corporation collectively produce just over half of the world’s lithium and lithium storage products, while just under half is produced by China.

For the quarter that ended December 2022, Albemarle (ALB) reported revenue of $2.62 billion, up 193.1% over the same period last year. EPS came in at $8.62, compared to $1.01 in the year-ago quarter.

The reported revenue represents a surprise of -0.21% over the Zacks Consensus Estimate of $2.63 billion. With the consensus EPS estimate being $8.46, the EPS surprise was +1.89%.

The stock was trading at 272.79 U.S. Dollars with a day’s rise of 0.77% during the time of writing. Its year-to-date rise stands at 27.17%. Despite last year’s troubles, it is one of the few stocks that has had a rise in price in the past 12 months of 10.89%.

Snowflake Incorporated

Snowflake Inc. provides a cloud-based data platform in the United States and internationally. The company’s platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of sizes in a range of industries. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is based in Bozeman, Montana.

The stock was trading at 175.28 U.S. dollars as of the time of writing after a 2.49% rise today. In the past month, it has experienced a 20.29% rise. This however has not been enough to cover its last year’s fall of -42.47% considering its year-to-date rise is currently at 29.36%.

Investor’s Note

These three companies have made strides in their respective industries and have shown resilience even during times of market trouble. CrowdStrike Holdings, Inc. continues to be a leading force in cybersecurity with its all-in-one solution, while Albemarle Corporation’s expertise in specialty chemicals, particularly lithium for electric vehicle batteries, positions it for growth in a rapidly expanding market.

Lastly, Snowflake Incorporated’s cloud-based data platform offers a new and innovative way for businesses to consolidate their data and drive insights. As the world becomes increasingly digital, companies like these are well-positioned to thrive and adapt to changing market demands.

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