The 3 best stocks to buy in June
While the summer months in the market are generally known to be less active, there are still many exciting opportunities for investors and traders looking to add new positions. We are seeing constructive action in all different areas of the market after a small correction, and even some of the names of the battered growth are starting to turn the page. While investors should always be on the lookout for the overall risk of inflation, the Federal Reserve and tax hikes, the market is certainly well prepared for June.
We’ve provided a quick rundown of the top 3 stocks to buy in June so you can get a head start on building your watchlist. Each of these titles has a trend or momentum that works in its favor, which is why they deserve your attention. Let’s take a more in-depth look below.
Ulta Beauty (NASDAQ: ULTA)
Ulta Beauty is a great option to consider in June, as the company is offering investors a way to take advantage of people returning to malls in the wake of the pandemic. As one of the largest beauty product retailers in the United States and a company that offers specialty retail products such as cosmetics, perfumes, skin care products, skincare products hair and salon services, Ulta offers a good way to market yourself to a leading company in the consumer arena. discretionary sector. The company has been busy gaining market share during the pandemic and has invested heavily in developing its e-commerce platform, which is expected to reward long-term investors with continued growth.
The company just released its first quarter results which were nothing short of impressive, another good reason to consider adding shares. Ulta reported first quarter net sales of $ 1.9 billion, a 65.2% year-over-year increase, thanks to a combination of government stimulus, easing restrictions on COVID-19 and improved consumer confidence. The company’s first-quarter EPS of $ 4.10 was more than double what analysts expected, and the fact that the company has raised its annual forecast tells us that management expects the momentum to build. continues for the rest of the year. The stock is on the verge of crashing after briefly hitting new all-time highs on Friday, so keep an eye out for Ulta at the start of the month.
Global-E Online Ltd (NASDAQ: GLBE)
This company went public in early May and offers a new opportunity for investors who wish to add e-commerce exposure to their portfolios. Global-E Online has developed a platform that enables and accelerates the global growth of cross-border e-commerce directly to consumers. The stock has risen more than 30% from the IPO price of $ 25 per share and could see a further rise in June as the company gains visibility and new investors find out what the company is. .
It can be quite difficult for business owners to find the right way to market and sell their products outside of their home country, which is one of the main reasons why this company’s platform is intriguing. Just think about dealing with issues like language barriers, currency conversion, and international compliance laws to capture the value Global-E Online can deliver. It should also be mentioned that Shopify took 6.5% in the company. While the stock doesn’t have much trading history, racking up stocks of what could be the next big thing in the growth space could be a smart move in June.
AppLovin Corp (NASDAQ: APP)
Another recent Initial Public Offering The stock that investors should consider adding in June is AppLovin Corp, a mobile apps technology company. AppLovin provides software solutions that mobile app developers can use to grow their businesses by automating and optimizing the marketing and monetization of their apps. We know how ubiquitous mobile devices are in today’s society, and any business that can help grow the mobile app ecosystem certainly has a solid outlook.
AppLovin shows attractive sales and reported revenue growth up 132% year-on-year to $ 604 million in the first quarter. It’s also worth noting that the company reported first-quarter Adjusted EBITDA of $ 131 million, up 110% year-over-year and a rarity among high-growth companies that recently went public. The stock recently hit new highs after the IPO and has some momentum working in its favor to start June, which is why it’s a great option to consider adding to the stock market. to come up.
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