U.S. stocks continue to hit new highs, and the gains of small-cap stocks, especially those tech growth stocks that went public in 2020 and 2021, are hard to ignore. Check out this week's new high stocks!
1. $Palantir Technologies Inc.(PLTR)$ hits an all-time-high of $62.08, with a YTD gain of $250.83%.
Last week, Palantir surged 20% on a day after reporting strong third-quarter results, driven by a significant increase in AI-driven demand.
EPS: 10 cents adjusted vs. 9 cents expected (+11.11%)
Revenue: $726 million vs. $701 million expected (+3.57%)
Palantir also raised its full-year revenue forecast, signaling robust future growth. Despite challenges in Europe and the Middle East, the company is targeting a 26% revenue increase for 2024.
Additionally, the company's recent inclusion in the S&P 500 index contributed to investor optimism.
2. $Rocket Lab USA, Inc.(RKLB)$ hit a 52-week high of $15.24, up 112% YTD.
Stifel analyst Erik Rasmussen raised $Rocket Lab USA, Inc.(RKLB)$ from $9 to $15 per share. He believes that Rocket Lab will succeed in launching its Neutron rocket, despite a slight delay in its timeline to mid-2025.
Additionally, the company has higher profit margins compared to its launch services, is seen as a key driver for future growth.
RKLB is also considered a strong competitor to SpaceX and a rare future investment opportunity. Meanwhile, other space-themed stocks that have surged this year include $Intuitive Machines(LUNR)$ , which secured a NASA contract, and $Destiny Tech100 Inc(DXYZ)$ , an Elon Musk-themed stock that recently soared by 200%.
3. $Lemonade, Inc.(LMND)$ surged to a 52-week high of $34.95, reflecting a 112.28% year-to-date increase.
Lemonade is a tech-driven insurance company that uses AI and data science to provide renters, homeowners, and pet insurance with a customer-centric approach.
Driven by strong financial growth, the insurance stock jumped 26% in one day after earnings beat, including a 24% rise in in-force premiums and a 71% increase in gross profit.
The company has demonstrated impressive customer growth, with a 17% increase in customer count, and achieved a positive free cash flow of $14 million.
4. $SoFi Technologies Inc.(SOFI)$ soared 41.81% year-to-date, reaching a 52-week-high of $14.44.
Despite a dip after the earnings, SoFi’s stock has risen nearly 30% in the past five trading days and 57% in the last month, making it a top performer.
The rally is partly fueled by optimism regarding less restrictive regulations under a second Trump administration, which could benefit SoFi, particularly after the challenges posed by the student loan forgiveness program under President Biden.
SoFi's 9% increase last Friday was undoubtedly also driven by the strong earnings report from its counterpart $Upstart Holdings, Inc.(UPST)$ .
5. $Zillow(Z)$reached a 52-week high of $75.92, a 30.99% YTD gain, following strong third-quarter financial results.
Zillow Group is a real estate and rental marketplace that connects consumers with properties for sale, rent, and home-related services, using technology to simplify the buying, selling, and renting process.
The company reported a 17% year-over-year revenue growth to $581 million, surpassing expectations, with significant contributions from residential, rentals, and mortgage segments.
Adjusted EBITDA exceeded expectations by $24 million.
The positive financial performance and strong fourth-quarter revenue guidance helped boost investor confidence.
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