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Wall Street’s best-performing analysts like these 5 stocks right now amid the market turmoil

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Chewy CEO Sumit Singh (C) rings the opening bell to commence the day’s trading for the Chewy Inc. IPO at the New York Stock Exchange (NYSE), June 14, 2019.

Andrew Kelly | Reuters

Which stocks are primed to outperform during this notably volatile period? Here are a few of the names the best-performing Wall Street analysts are betting on.

As the economy reopens and stocks begin to bounce back from coronavirus-related lows, it could make sense to follow the stock picks of analysts with a proven track record of success. Here we used TipRanks analyst ranking service to pinpoint Wall Street’s best-performing analysts. The site uses a natural language-processing algorithm to rank and track the latest recommendations from over 6,700 analysts.

Here are the best-performing analysts’ five favorite stocks right now:

Analog Devices 

Five-star Oppenheimer analyst Rick Schafer reiterated his buy rating on Analog Devices on June 10 after catching up with ADI IR Director Michael Lucarelli. The company is on the cusp of a major opportunity in the 5G space, with Schafer revealing that ADI is his top large-cap play on 5G infrastructure right now.

“Tone was upbeat as Mr. Lucarelli highlighted improving conditions in the supply chain and discussed strength in 5G/ Medical/Defense” noted Schafer. With shares up 3 percent year-to-date, his $140 stock price forecast indicates 14 percent upside potential from current levels.

Although ADI could experience near-term coronavirus pressures, particularly in auto/industrial, looking ahead to 2021 the Oppenheimer analyst is impressed by ADI’s 5G-led structural growth and margin profile.

“We applaud management’s proactive cost control efforts, structural growth opportunities in 5G RAN, and industry-leading gross margin/ operating margin/ free cash flow profile” cheered Schafer, adding “We remain long-term buyers.”

The analyst is ranked #17 by TipRanks due to his 78 percent success rate and 19 percent average return per rating.

Chewy 

“Raise the Rwoof” exclaimed RBC Capital’s Mark Mahaney after online pet store Chewy posted a strong beat and raise quarter on June 9. Revenue grew 46 percent year-over-year to $1.62 billion, driven by record customer net additions, while EBITDA turned positive for the first time in company history.

Post-print the analyst reiterated his buy rating on the stock while ramping up his stock price forecast from $40 to $62. Despite the stock’s 71 percent year-to-date rally, Mahaney’s new price target indicates 25 percent further upside potential lies ahead.

“Importantly, CHWY’s results and outlook suggest to us that the company is at an inflection point and that it is a structural winner from the Covid crisis” he told investors on June 9. And luckily the analyst believes this boost is set to last, writing: “Pet product purchases have meaningfully accelerated their online adoption, and we don’t expect a reversion.”

At a high level, Mahaney notes that CHWY’s potential market remains very large ($100 billion according to the American Pet Products Association), its penetration small, its value proposition very robust, its business model strengthening, and its execution very strong.

The RBC analyst comes in at an impressive #140 out of over 6,700 analysts tracked by TipRanks.

Amazon 

E-commerce giant Amazon continues to be one of the Street’s favorite stock picks. On June 9, top Wells Fargo analyst Brian Fitzgerald reiterated his bullish stance on AMZN, arguing that strong digital demand should persist over the near to mid-term despite stores re-opening as the lockdown eases.

Based on increased forecasts and improving comparative valuations, he also bumped up his stock price forecast from $2,725 to $3,000 (13 percent upside potential). Shares in Amazon have already climbed 43 percent year-to-date.

“While we note ramping local fulfillment capabilities and exceptionally strong e-commerce data pts from omnichannel retail competitors, we nonetheless expect that AMZN is likely to benefit from exceptionally strong e-commerce demand in 2Q, likely extending into 2H20” the analyst explained.

He believes that AMZN’s continued build-out of last-mile fulfillment capacity and a gradual return to more hectic work and school schedules will shift momentum back toward rapid delivery (i.e. AMZN’s 1-day Prime and Prime Now) and away from competitors’ store-based fulfillment options.

With a strong average return of over 30 percent per rating, Fitzgerald is one of the Top 20 analysts ranked by TipRanks.

Five Below 

Despite Five Below posting notably weak earnings for the first quarter, Oppenheimer’s Brian Nagel is sticking to his buy rating. As the specialty value retailer is currently trading down 11 percent year-to-date, his $140 stock price forecast indicates 23 percent upside potential for the next 12-18 months.

“On the other side of the pandemic, FIVE continues to represent one of the most compelling new unit growth concepts in retail” the analyst states.

Encouragingly, he notes that through July, with approximately 90 percent of the company’s stores now open, total company comparable store sales tracked up 8 percent. This growth was split evenly between store and online channels.

Indeed, as Joel Anderson, FIVE CEO, commented post-earnings, “The challenges of the last few months were unprecedented. We temporarily closed stores on March 20… [and] this decision had significant financial ramifications,” but he continued: “We are very pleased with the initial sales trends we are seeing as stores reopen.”

Longer-term, Nagel sees compelling growth prospects for the chain thanks to its unique store format and merchandising. “As Covid-19 headwinds continue to abate… shoppers are apt to increasingly turn toward the company for value and entertainment” he says.

Nagel, a Top 50 analyst according to TipRanks, scores a 74 percent success rate and 18 percent average return per rating.

BioMarin Pharmaceuticals 

Five-star JP Morgan analyst Cory Kasimov is positive about the outlook for BioMarin Pharma, a biotech focused on rare-disease therapies including Hemophilia A. This is a genetic deficiency in clotting factor VIII, which causes increased bleeding and usually affects males. 

He reiterated his BMRN buy rating on June 10 after conducting a survey of 25 US hematologists to gauge the latest thoughts around key developments in the Hemophilia A space. The survey focused on BMRN’s experimental gene therapy Roctavian (valrox) which recently demonstrated sustained benefit in bleed rates over a four-year Phase 1/ 2 clinical trial. 

“Overall, the [survey] results are encouraging and further support our optimistic outlook on Roctavian in particular and BMRN overall” the analyst wrote. While appreciating the limits of survey data, Kasimov believes the results suggest ample potential for Roctavian to more rapidly and deeply penetrate the Hemophilia A market than the Street is currently expecting.

Net-net the JP Morgan analyst remains confident in Roctavian’s approvability ahead of the August 21 FDA decision date and “bullish on BMRN’s outlook with accelerating profitability with the addition of two potential blockbuster products in the coming quarters.”

Kasimov, who is ranked at #160 out of 6,713 analysts, has a $140 BioMarin stock price forecast, indicating 30 percent upside potential for the coming months. BMRN is currently trading up 27 percent year-to-date.

Source: https://www.cnbc.com/2020/06/14/analysts-are-betting-on-chewy-five-below-amazon.html

Crunchbase

The Briefing: RVShare raises over $100M, Google disputes charges, and more

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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RVShare raises over $100M for RV rentals

RVShare, an online marketplace for RV rentals, reportedly raised over $100 million in a financing led by private equity firms KKR and Tritium Partners.

Akron, Ohio-based RVShare has seen sharp growth in demand amid the pandemic, as more would-be travelers seek socially distanced options for hitting the road. Founded in 2013, the company matches RV owners with prospective renters, filtering by location, price and vehicle types.

Previously, RVShare had raised $50 million in known funding, per Crunchbase data, from Tritium Partners. The company is one of several players in the RV rental space, and competes alongside Outdoorsy, a peer-to-peer RV marketplace that has raised $75 million in venture funding.

Funding news

  • BrightFarms closes on $100M: Indoor farming company BrightFarms said it secured more than $100 million in debt and new equity capital to support expansion plans. The Series E round of funding was led by Cox Enterprises, which now owns a majority stake in the company, and includes a follow-on investment from growth equity firm Catalyst Investors.
  • Anyscale inks $40MAnyscale, the Berkeley-based company behind the Ray open source project for building applications, announced $40 million in an oversubscribed Series B funding round. Existing investor NEA led the round and was joined by Andreessen Horowitz, Intel Capital and Foundation Capital. The new funding brings Anyscale’s total funding to more than $60 million.
  • Klar deposits $15M: Mexican fintech Klar closed on $15 million in Series A funding, led by Prosus Ventures, with participation from new investor International Finance Corporation and existing investors Quona Capital, Mouro Capital and Acrew. The round brings total funding raised to approximately $72 million since the company was founded in 2019. The funds are intended to grow Klar’s engineering capabilities in both its Berlin and Mexico hubs.
  • O(1) Labs rakes in $10.9M: O(1) Labs, the team behind the cryptocurrency Mina, announced $10.9 million in a strategic investment round. Co-leading the round are Bixin Ventures and Three Arrows Capital with participation from SNZ, HashKey Capital, Signum Capital, NGC Ventures, Fenbushi Capital and IOSG Ventures.
  • Blustream bags $3M: After-sale customer engagement company Blustream said it raised $3 million in seed funding for product usage data and digital transformation efforts for physical goods companies via the Blustream Product Experience Platform. York IE led the round of funding for the Worcester, Massachusetts-based company with additional support from existing investors.Pillar secures another $1.5M: Pillar, a startup that helps families protect and care for their loved ones, raised $1.5 million in a seed extension to close at $7 million, The round was led by Kleiner Perkins.

Other news

  • Google rejects DOJ antitrust arguments: In the wake of a widely anticipated U.S. Justice Department antitrust suit against Google, the search giant disputed the charges in a statement, maintaining that: “People use Google because they choose to, not because they’re forced to, or because they can’t find alternatives.”
  • Facebook said to test Nextdoor rival: Facebook is reportedly testing a service similar to popular neighborhood-focused social Nextdoor. Called Neighborhoods, the feature reportedly suggests local neighborhood groups to join on Facebook.

Illustration: Dom Guzman

Venture investors and leaders in the fintech space can visualize a future where such startups will move toward again rebundling services.

Root Inc., the parent company of Root Insurance, launched its initial public offering and is looking at a valuation of as much as $6.34 billion.

Clover Health posted rising revenues and a narrower loss in its most recent financial results, published in advance of a planned public market debut.

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Source: https://news.crunchbase.com/news/briefing-10-21-20/

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Crunchbase

Syte Sees $30M Series C For Product Discovery

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Online shopping has become the norm for most people in 2020, even coaxing traditional retail brands to up their presence to stay competitive. However, now that shoppers can’t see and touch products like they used to, e-commerce discovery has become a crucial element for customer acquisition and retention.

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Enter Syte, an Israel-based company that touts creating the world’s first product discovery platform that utilizes the senses, such as visual, text and voice, and then leverages visual artificial intelligence and next-generation personalization to create individualized and memorable customer experiences, Syte co-founder and CEO Ofer Fryman told Crunchbase News.

To execute on this, the company raised $30 million in Series C funding and an additional $10 million in debt. Viola Ventures led the round and was joined by LG Technology Ventures, La Maison, MizMaa Ventures and Kreos Capital, as well as existing investors Magma, Naver Corporation, Commerce Ventures, Storm Ventures, Axess Ventures, Remagine Media Ventures and KDS Media Fund.

This brings the company’s total fundraising to $71 million since its inception in 2015. That includes a $21.5 million Series B, also led by Viola, in 2019, according to Crunchbase data.

Fryman intends for the new funding to be put to work on product enhancements and geographic expansion. Syte already has an established customer base in Europe, the Middle East and Africa, and will now focus expansion in the U.S. and Asia-Pacific.

Meanwhile, Syte has grown 22 percent quarter over quarter, as well as experienced a 38 percent expansion of its customer base since the beginning of 2020.

“Since we crossed $1 million annual recurring revenue, we have been tripling revenue while also becoming more efficient,” Fryman said. “We can accelerate growth as well as build an amazing technology and solution for a business that needs it right now. We plan to grow further, and even though our SaaS metrics are excellent right now, our goal is to improve them.”

Anshul Agarwal, managing director at LG Technology Ventures, said Syte was an attractive investment due in part to its unique technology.

“They have a deep-learning system and have created a new category, product discovery that will enable online shopping in a way we never had the ability to do before,” Agarwal said. “The product market fit was also unique. We believe in the strong execution by the team and the rapid growth in SaaS. We looked at many different companies, and the SaaS metrics that Syte showed are the strongest we’ve seen in a while.”

Illustration: Li-Anne Dias

Venture investors and leaders in the fintech space can visualize a future where such startups will move toward again rebundling services.

Root Inc., the parent company of Root Insurance, launched its initial public offering and is looking at a valuation of as much as $6.34 billion.

Clover Health posted rising revenues and a narrower loss in its most recent financial results, published in advance of a planned public market debut.

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Source: https://news.crunchbase.com/news/syte-sees-30m-series-c-for-product-discovery/

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Coinpedia

GenTech Proudly Secures Deal with TruLife Distribution to Drive Growth in SINFIT Digital Sales

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Denver, CO, October 21, 2020 – OTC PR WIRE – GenTech Holdings, Inc. (OTC PINK: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end Premium Coffee (www.secretjavas.com), Hemp Wellness (www.hakunasupply.com) and Functional Foods (www.SINFITnutrition.com) marketplaces, along with its SINFIT Nutrition brand (“SINFIT”), is excited to announce that the Company has signed a new marketing, sales, and distribution agreement (the “Agreement”) with TruLife Distribution (“TruLife”) (TruLifeDist.com), a leader in marketing, distribution, compliance, e-commerce, and advisory services in the Functional Foods marketplace. The main focus of the new Agreement will be to accelerate the growth of e-commerce sales of SINFIT products, particularly over the Amazon.com platform.

TruLife provides direct access to sales on Amazon, Walmart, Rakuten, Wish, TopHatter, and other top e-commerce platforms, allowing clients to instantly list, ship, and sell products through any major platform, with an experienced team of experts and a proven track record of success in brand placement and digital sales strategies.

“We have already demonstrated a significant & expansive growth curve since taking control of the SINFIT brand in June,” commented Harold Vaca, VP Domestic Sales of SINFIT. “But the vast majority of that growth has been driven by large purchase orders from major distribution partners, both domestic and international. We are also committed to aggressively pursuing end-market consumer direct purchases through our e-commerce footprint, which will provide additional growth and diversify our cash flow ecosystem, making our overall strategy less dependent upon any one source of demand, while driving further growth in total sales.”

Management notes that e-commerce sales represent a sizeable portion of overall retail sales growth worldwide, with more than $3.5 trillion in online sales accounting for over 14% of total pre-pandemic global retail sales. Since the onset of the global health crisis, that ratio has shifted decisively further in favor of e-commerce sales, which is not likely to entirely revert back upon the advent of a viable and widely accessible vaccine.

Vaca added, “We have seen an epic process of market penetration for e-commerce platforms this year as major online retailers have begun to reach a much wider base of consumers – people who haven’t ever shopped much online, but have been forced to during recent months out of personal health concerns. Many of them will almost certainly continue to make use of e-commerce now that they have tried it out, at least to some extent, making e-commerce an essential sales channel for SINFIT products. TruLife has the network, team, experience, and resources to dramatically augment our e-commerce performance.”

SINFIT branded products registered over $2.2 million in global sales in 2019, and are now approved for sale and available for purchase on the Walmart.com and Amazon.com e-commerce platforms as well as in over 2,500 GNC locations in North America and over 10,000 global physical and e-commerce stores across more than 10 countries around the world.

SINFIT products as well-positioned relative to peers and to the long-term macro tailwind defining the functional foods market, which saw sales top $267 billion in February of this year on a global basis, with sales in the US reaching $63 billion, according to Euromonitor 2020. This trend is part of a larger supportive momentum in the general category, with global sales of organic food and drink topping $105 billion in 2018 (Ecovia 2019). U.S. organic food sales also reached $47.9 billion, up 5.9% in 2018 (OTA 2019). In 2019, 77% of U.S. adults used dietary supplements, an all-time high (CRN 2019). U.S. supplement sales are estimated to have reached $49.3 billion in 2019, up 6.2% (NBJ 2019).

About GenTech Holdings, Inc.:

GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas, owns a Functional Food company, SINFIT Nutrition and recently closed its acquisition on Products-Groups’ “Hakuna Supply”.

Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.

Corporate Contact:
invest@gentech.group

www.gentechholdings.com

Source: https://otcprwire.com/gentech-proudly-secures-deal-with-trulife-distribution-to-drive-growth-in-sinfit-digital-sales/

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