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3 Monster Growth Stocks Gearing up for Gains

Which stocks are always on investors’ wish lists? Growth stocks. Time and time again, the pros on the Street point to tickers with above-average growth prospects as must-haves, as they stand to deliver major rewards in the long run. We really aren’t joking when we say above-average. Stocks that fall into this category have already notched impressive gains year-to-date, but this is only the beginning. The wins could keep on coming through 2020 and beyond. Having a target in mind is one thing, but how exactly are investors supposed to track down these names? This is where TipRanks can come in handy. Using TipRanks’ database, we scanned the Street for analyst-approved stocks that have exhibited a stellar run-up in 2020, and are poised to climb higher in the year ahead. Here are all of the details. Stamps.com (STMP) Providing online mailing and shipping services, Stamps.com makes it easy for its customers to print U.S. Postal Service-approved postage. Even though shares have already jumped 215% year-to-date, some analysts think this name has more room to run. After a recent conversation with management, National Research’s Allen Klee has high hopes for STMP. The analyst tells clients his primary takeaway was “Stamps.com is positioned to benefit from accelerating ecommerce demand.” What’s more, he believes the deep functionality, integration, carrier relationships and processing speed of its products give it a leg up. When it comes to STMP’s revenue, 80% comes from shipping, which makes it “levered to positive ecommerce trends,” in Klee’s opinion. He noted, “We would expect shipping to increase as a percent of total revenue over time. In addition, the company will get international growth and potential market share gains, in our view.” Klee added, “The company has improved their growth outlook and lowered their risk profile through expanding their offerings and services, investing internationally and diversifying carrier relationships.” These investments are related to technology for MetaPack and ShipStation, two companies it acquired, and ShipEngines, its multi-carrier shipping platform. When the spending on these areas of the business moderates, the analyst thinks STMP’s already strong margins will get a boost. Along with the fact that STMP doesn’t have large exposure to any one sector, Klee argues its new partnership with UPS presents an exciting long-term opportunity. “As Stamps.com has eliminated its exclusivity with USPS, they are at various stages of negotiations with various carriers,” he mentioned. The company’s guidance for 2020 does assume a decline in 2H20 compared to the first half of the year, but this is related to how much of the spike in ecommerce demand witnessed in Q2 2020 is sustainable and the impact of the weak macro environment. That being said, Klee highlights new data on customer adds that is “of comparable quality” to past…