Nvidia, Sweetgreen, and Sea Limited: Stocks That Could Rally

A report highlights three U.S.-listed stocks, Nvidia, Sweetgreen, and Sea Limited, which have more than doubled in value this year and may continue their upward trajectory through the final quarter of 2024.

Date: 03-10-2024

AI Rating: 7

The report identifies Nvidia, Sweetgreen, and Sea Limited as potential investment opportunities, given their remarkable performance in 2023, with gains of 145%, 214%, and 133% respectively. This analysis focuses on key investment metrics for each company.

Nvidia: The company has shown impressive revenue growth, more than doubling in each of the last five quarters, with forecasts predicting a 79% increase in revenue for the current quarter. Analysts have raised earnings per share estimates from $3.39 to $4.02, indicating positive market sentiment. Nvidia’s high valuation, trading at 43 times projected earnings for the current fiscal year, could suggest that the stock might be viewed as expensive. However, the robust growth and continued analyst upgrades may bolster investor confidence.

Sweetgreen: This company has exhibited a remarkable recovery from initial pandemic setbacks, achieving 13 consecutive quarters of over 20% growth. While not yet profitable, the growing trend of employees returning to offices presents a potential catalyst for future expansion. Sweetgreen's performance has positioned it as a popular choice among health-conscious consumers.

Sea Limited: The firm has achieved steady revenue growth across its segments, with analysts anticipating significant earnings per share growth in the foreseeable future. Even though Sea Limited's stock is trading at 47 times next year's projected earnings, strong momentum and a favorable outlook continue to attract investor interest.

In summary, all three of these companies exhibit noteworthy revenue growth and a willingness among investors to overlook high valuations in the face of potential for further gains in their respective markets.

Stocks: NVDA SG SE