4 Promising Stocks That Are Transforming The Way We Function

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The year 2020 has been full of disruptions, thanks to the coronavirus pandemic that has altered every aspect of people’s lives. From changing the way we work, eat, shop, travel, spend free time, and interact with family and friends, every activity has witnessed a sea change. Lockdowns, shelter-in-place restrictions, and social-distancing practices led to the emergence of the “new normal.”

The new normal has led to the adoption of new ways of life such as work from home, dine at home, shop from home, learn at home, and many more. Hence, people have confined themselves to the four walls of their homes with increased dependence on technology.

Although the arrival of Pfizer’s COVID-19 vaccine has raised optimism, apprehensions regarding the deadly virus are far from gone. People are expected to follow social-distancing norms, wear masks, and limit travel for the foreseeable future. As a result, companies are making efforts to figure out strategies that will stay relevant for the days ahead.

Given this scenario, we bring forth four promising stocks that are transforming people’s lives.

Let’s take a look.

One of the most obvious changes in consumer behavior has been the massive shift to the purchase of essentials items and that too via online. Consequently, retailers are leaving no stone unturned to capitalize on online demand by enhancing digital platforms and optimizing the supply chain. Companies are aggressively pursuing ways to improve omnichannel capabilities and delivery facilities, including curbside pickup, as people are still conscious about visiting stores. Target Corporation (TGT - Free Report) is one retailer, which is well equipped to serve customers through its curbside pickup or delivery-at-home facilities. The company is not only witnessing robust e-commerce sales trends but also benefiting from same-day services (Order Pick Up, Drive Up, and Ship) that surged 217% in third-quarter fiscal 2020. Sales fulfilled by Shipt were up nearly 280% year over year and sales through Drive-Up grew more than 500% during the said quarter. Order Pickup rose more than 50% in the quarter. Notably, the Zacks Consensus Estimate for the company’s fiscal 2021 earnings has moved 9.1% north over the past 60 days. This general merchandise retailer currently has a Zacks Rank #2 (Buy).

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