Top 4 Stocks Retailers Are Most Bullish About on Stocktwits to Kick Off the Week
By Stocktwits Inc | First Published Dec 2, 2024, 3:08 PM ISTZscaler, Marvell Tech and Lululemon Athletica are among the companies reporting earnings this week.
The U.S. market ended November on a high, with the broader S&P 500 Index rising 5.7% for the month. The index has gained over 26% for the year-to-date period and is now perched at a closing high of 6,032.38.
The outlook for the running month is bright. Data shared by Carson Group Chief Investment Officer Ryan Detrick showed that during the election year, the S&P 500 has gained 1.3% on an average in December since 1950.
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Here’s a compilation of the most bullish stocks on Stocktwits ahead of the first trading session of the seasonally strong December:
Marvell Technology, Inc. ($MRVL):
Marvell Tech, a manufacturer of infrastructure semiconductor solutions for a wide range of applications from data center core to network edge, is on retail’s radar ahead of its quarterly results.
Analysts, on average, expect the company to report fiscal-year 2025 third-quarter earnings per share (EPS) of $0.41, flat with the year-ago quarter. Revenue is expected to climb 2.8% year-over-year (YoY) from $1.42 billion to $1.46 billion.
Last week, Susquehanna analysts raised the price target for Marvell Tech stock from $95 to $110 and maintained a “Positive” rating on the stock, the Fly reported. The analysts at the firm see strong upside for both Inphi and custom ASIC, thanks to strong artificial intelligence (AI) chip demand.
Sentiment toward Marvell Tech shares flipped from ‘bearish’ a day ago to ‘bullish' (61/100), with message volume spiking to ‘high.’
The company is scheduled to report its results after the market closes on Tuesday.
Marvell Tech shares have gained over 54% so far this year.
Lululemon Athletica, Inc. ($LULU)
Vancouver, Canada-based Lululemon Athletica, a retailer of athletic footwear, apparel and accessories, is scheduled to report its fiscal year 2024 third-quarter results after the market closes on Thursday.
Quarterly EPS is expected to climb from $2.53 to $2.70, and revenue is estimated at $2.36 billion, up from the year-ago’s $2.2 billion.
Last week, Morgan Stanley analysts raised their price target for the company from $314 to $345, and maintained an “Overweight” rating. They expect a slight quarterly beat and reiteration of the fiscal year guidance. On the other hand, Oppenheimer reduced its price target from $445 to $380, reasoning that top-line trends will remain sluggish due to recent merchandising missteps in the domestic women’s segment.
Retail is ‘bullish’ (61/100) on the stock, with message volume remaining ‘normal.'
Nio, Inc. ($NIO)
Chinese electric-vehicle maker Nio reported Sunday November deliveries of 20,575 units, up nearly 29% YoY but about 2% down from the previous month. The company sold 15,493 Nio-branded EVs and 5,082 ONVO-branded vehicles.
Hong Kong-listed shares of Nio climbed about 3% on Monday.
Nio elicited ‘bullish’(60/100) sentiment from the retail crowd on Stocktwits, an improvement from the ‘neutral’ mood that prevailed a day ago. Retail chatter, however, was muted at ‘low’ levels.
Zscaler, Inc. ($ZS)
Cybersecurity company Zscaler is scheduled to announce its fiscal-year 2025 first-quarter results after the market closes on Monday.
The San Jose, California-based company is widely expected to report non-GAAP EPS of $0.63, lower than the year-ago’s $0..67 and the previous quarter’s $0.88.
Analysts, on average, expect revenue of $605.52 million compared to the $496.7 million and the $592.9 million, respectively, reported for the year-ago and the previous quarters.
Most Wall Street analysts raised their price targets for the stock ahead of the company’s quarterly results, according to the Fly.
Retail sentiment toward Zscaler stock has improved from ‘neutral’ to ‘bullish’ (59/100), accompanied by ‘high’ message volume.
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