Three Growth Stocks Flying In The Face Of Lockdown

Summary

  • The stock of e-commerce platform Shopify has grown 950% in the last three years.
  • Payment app Square Inc.’s profits surged 79% in Q1 of 2021.
  • The revenues of Copper Companies Inc. were up 5% to US$680.5 million in Q1 of 2021.

Although the US markets have been muted in recent days over a host of concerns, it is expected to bounce back from their temporary slumber as the economy gains momentum.

Growth stocks have often stood the test of times through innovation and better services. But myriad challenges in the markets may sometimes also drag them down.

Thus, selecting such stock from a vast pool of companies can be difficult from an investment point of view.

Here are three growth stocks to explore after the covid-era restrictions.

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Shopify Inc. (NYSE:SHOP)

This e-commerce company allows merchants to sell their products on its online platform. It also offers shipping solutions. The stock price rose by 950% in the last three years. The pandemic-fuelled e-commerce surge has helped boost its profit and growth.


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SHOP has a market capitalisation of US$139 trillion.

The stock was trading at US$1170.39 at the market close on Wednesday, May 19, which was an increase of 3.27% from the previous close. The company anticipates the stock price to increase to US$1,456.50 by the end of the year.

Its P/E ratio is 87.66. Earnings per share of SHOP is US$12.76.

SHOP continues to reinvent itself by adding innovative products to its portfolio and through new partnerships. For instance, it has collaborated with Facebook, Walmart, and Pinterest for reaching out to its customers. It saw around 90% growth YoY across all quarters in 2020.

Also read: Clover Health & Onconova Therapeutics: Two Rising Healthcare Stocks

Square Inc. (NYSE:SQ)

Digital payment services company Square Inc.’s profits were up 79% to US$964 million in Q1 of 2021 compared to the same period in the previous year. The revenue growth was mainly due to the pandemic-fuelled demand  as online transactions surged.

Sellers use its platform to approach buyers online. The company also offers its customers services to store and spend money through its CashApp. Square’s Tidal section also helps empower artisans and artists across many countries.

Square has a market cap of US$90 billion. Its P/E ratio is 279.3.

The stock was trading at US$200.11 at the market close on Wednesday, May 19, which was down 1.5% from the previous session. It expects its stock price to increase to US$266.00 by the end of the year.

Also read: PayPal, Square Ride High On Strong Digital Payments


The Copper Companies Inc. (NYSE:COO)

Copper Inc. makes surgical devices, contact lenses, and other products. Copper Inc. produces surgical devices, contact lenses, and other products. Its revenues were up 5% to US$680.5 million in Q1 of 2021 from the year-ago period.

It has a market cap of US$ 18 billion. The P/E ratio is 8.38.

The stock was trading at US$381.97 per share at the market close on Wednesday, which was down 0.81% from the previous session. It expects its stock price to increase to US$410 by the year-end.

Also read: Amazon Dodges US$300 Million EU Tax Order

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