3 Strong Growth Stocks Down Over 40%

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)

  1. Fastly is down roughly 48% from its all-time high, with a market cap of $7.58B.
  2. Strong fundamentals, a balance sheet with more cash than debt, the recent quarter showed Y/Y revenue growth of 40%.
  3. 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)

  1. Palantir is down roughly 42% from its all-time high, with a market cap of $41.15B.
  2. 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.
  3. 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)

  1. Snowflake is down roughly 40% from its all-time high, with a market cap of $66.53B.
  2. The most recent quarter showed revenue of $190.5 million, representing 117% year-over-year growth.
  3. 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

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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/

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