In today’s video, I look at three growth stocks that have lost more than 40% of their valuations. Below is each stock and three reasons to add them to your watchlist as potential buys.
Three reasons to watch Fastly (NYSE:FSLY)
- Fastly is down roughly 48% from its all-time high, with a market cap of $7.58B.
- Strong fundamentals, a balance sheet with more cash than debt, the recent quarter showed Y/Y revenue growth of 40%.
- The current forward P/S Ratio is at 15.58, and this is the cheapest its been since July 2020.
Three reasons to watch Palantir Technologies (NYSE:PLTR)
- Palantir is down roughly 42% from its all-time high, with a market cap of $41.15B.
- Palantir continues to acquire new customers for long-term partnerships. The most recent was announced on 3/11/21 with Faurecia, one of the world’s leading automotive technology companies.
- The most recent earnings showed strong revenue growth for the company. Their commercial business, which accounts for 44% of total revenue, grew 107% for the entire year of 2020, and their government business which accounts for 56% of total revenue, grew 77% during the same time.
Three reasons to watch Snowflake (NYSE:SNOW)
- Snowflake is down roughly 40% from its all-time high, with a market cap of $66.53B.
- The most recent quarter showed revenue of $190.5 million, representing 117% year-over-year growth.
- Snow has remaining performance obligations of$1.3 billion, and this performance obligation grew 213% Y/Y.
Click the video below for my full thoughts.
*Stock Prices used were the closing prices of March 26, 2021. The video was published March 28, 2021
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
View more information: https://www.fool.com/investing/2021/03/29/3-strong-growth-stocks-down-over-40/