2 Valuable Actions Reflecting High Website Traffic
The current uncertain global economic environment has shaken investors’ appetite for risk taking. While trends had improved as the pandemic subsided, an economic recovery was visible on the horizon, but the Russian-Ukrainian conflict and inflationary pressures swayed investor sentiment.
As a result, investor concerns about market volatility have led the S&P 500 to fall more than 7% year-to-date.
With this kind of wild backdrop, the need for useful TipRanks tools is even more palpable. TipRanks Website Traffic Tool uses data from SEMrush Holdings (SEMR), the world’s largest website usage monitoring service, to show an estimate of the number of consumers visiting a company’s websites, and how that correlates with the stock price.
Increased traffic to a company’s website demonstrates a possible uptrend among consumers, and vice versa.
Here are two stocks with increased website clicks that have strong prospects.
Apple Inc. (AAPL)
iPhone maker Apple designs, manufactures and sells smartphones, personal computers, tablets, wearables and accessories. With a market capitalization of $2.73 trillion, Apple is the largest information technology company by revenue and the second largest manufacturer of mobile phones. AAPL stock is up more than 26% in the past year.
Dominating the high-end smartphone market, Apple has seen tremendous growth in revenue and earnings over the past few years. This was supported by the wide acceptance of Apple products due to consistent phone upgrades and related services provided by the phone manufacturer.
In the latest forward-looking earnings release, Apple Chief Financial Officer Luca Maestri said, “We expect to deliver solid year-over-year revenue growth and set a record revenue for the March quarter despite significant supply constraints, which we believe are lower than what we experienced in the December quarter.
After posting upbeat earnings in six of the past seven quarters, in the soon-to-be-released second quarter of fiscal 2022, Wall Street expects Apple to report earnings of $1.43 per share on revenues of $94.03 billion.
Ahead of the second-quarter earnings release, Morgan Stanley analyst Kathryn Huberty maintained a buy rating on Apple and a price target of $210. Huberty’s price target implies an upside potential of 25.58% over the next 12 months.
The five-star analyst expects Apple to beat revenue expectations on the strength of the iPhone 13 and Mac despite the relative underperformance of iPad and services.
Although the analyst expects a cautious outlook for the June quarter due to COVID-related lockdowns in China, she prefers to add Apple to her attractive entry point.
On TipRanks, we noticed an upward trend on the website traffic tool. In the second quarter of fiscal 2022, total estimated visits to apple.com showed an upward trend, globally, representing a jump of 129.78% from the first quarter and an increase of 492.84% year over year. This, in turn, indicates that the company could post strong revenue in the second quarter.
The TipRanks Smart Portfolio allows investors to compare their holdings to the top performing portfolios on TipRanks, as well as the stock picks of average TipRanks users. Remarkably, 18.3% of the top performing portfolios on TipRanks hold AAPL.
Overall, the consensus among analysts is a strong buy based on 23 buys versus six holds. The average Apple price target of $193.11 implies an upside potential of 15.48% from current levels.
Amazon.com, Inc. (AMZN)
E-commerce giant Amazon is a dominant player in online retail and cloud computing services and has taken many other routes, including video streaming, automation robotics, video game streaming and even physical retail.
With a market capitalization of $1.57 trillion and posting gains of around 8% over the past three months, AMZN stock looks like an attractive buy, backed by its strong fundamentals and financial stability, despite the cost inflation and labor constraints.
Faced with challenges related to operating costs and employee retention, Amazon has made its shares available to mass investors through a 20-for-one stock split, effective June 6, 2022 .
Amazon saw strong performance in its Amazon Web Services (AWS) segment and millions of new Prime members in the United States and abroad. On the latest earnings call, Amazon Chief Financial Officer Brian Olsavsky said: “While we weather these near-term headwinds, the fundamentals of our retail business are strong and we are optimistic about a a number of growing companies and a strong innovation pipeline”.
After reporting strong earnings in the December quarter, Amazon is expected to report earnings of $8.48 per share on revenue of $116.32 billion for the March quarter, which will be released on April 28.
Recently, Cowen & Co. analyst John Blackledge maintained a bullish position on Amazon, but lowered the price target to $4,400 (42.86% upside potential) from $4,500.
Blackledge expects the company to report strong first quarter results from the AWS Advertising and Sub segments. However, given supply chain and inflationary pressures, the analyst cut his estimates for the June quarter.
Consistent with Blackledge’s position, the consensus among analysts currently translates to a strong buy rating, based on 34 buys, one hold and one sell. Amazon’s average price forecast of $4,112.76 implies upside potential of 33.53% from current levels.
We also noticed an upward trend in website clicks on the online traffic tool. In the first quarter of 2022, total estimated visits to amazon.com trended upward, globally, representing an increase of 9.61% sequentially and 34.34% year-on-year. the other, indicating strong results to report.
Additionally, 8.3% of the top performing portfolio on TipRanks holds AMZN.
Recent volatile markets have challenged investor confidence. Website clicks help provide informed decisions to some extent, by giving an idea of the popularity of stocks. Apple and Amazon are both trending among individuals in terms of visiting websites hoping for long-term prospects.
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