These Large-Cap Growth Stocks Have All Doubled Already this Year
Thanks to the trade war – and now the new “currency war” – volatility is back on Wall Street after a relatively smooth first seven months of the year (May not included). But the early-August dip hasn’t eroded all of the big gains to start the year – the S&P 500 is still up more than 13% so far in 2019. And the best large-cap growth stocks have performed much better than that.
The 10 best-performing large-cap stocks through the first seven-plus months of 2019 have all more than doubled. Not surprisingly, most of them (six) are in the technology sector. The rest are a more of a hodgepodge – a surging biotech, a Brazilian financial, an Argentine e-commerce and online auction giant, and a popular provider of streaming video players. Really, all 10 companies could be considered tech stocks. It’s no surprise that in a strong year for the market, technology stocks are leading the charge.
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If you subscribe to any one of our 13 Cabot investment advisories, some of these stocks will probably look familiar to you. Several of our analysts recommended these large-cap growth stocks quite early in their runs. Among those, not all are still rated “Buys,” due either to recent weakness or astronomical valuations (or both). But this is a list of the 10 best large-cap growth stocks so far in 2019 – regardless of their current directions.
So, without further ado…
The Best Large-Cap Growth Stocks of 2019 (So Far)
Array BioPharma (ARRY): +242%
Roku (ROKU): +226%
Sea Limited (SE): +204%
Snap (SNAP): +185%
Shopify (SHOP): +149%
PagSeguro Digital (PAGS): +145%
The Trade Desk (TTD): +120%
Okta (OKTA): +110%
MercadoLibre (MELI): +105%
Zscaler (ZS): +100%
A few of those are probably familiar names. Some of you may use a Roku player to stream Netflix, Hulu, or Amazon Video on your televisions. Unless you’re a millennial, you’re probably less likely to use Snap, Inc.’s social media platform, Snapchat, whose stock has roared back this year after a very rough start following its disastrous 2017 IPO. Shopify is a recognizable e-commerce platform that has long been a favorite of ours.
Not so familiar are Array BioPharma and Sea Limited. Array BioPharma is a clinical-stage biotech that develops small molecule drugs to treat cancer patients; it was bought out by Pfizer (PFE) in June, and the stock gapped up from 29 to 46 overnight. It’s held steady since, trading at 47 today.
Sea Limited is a Singapore-based tech company that specializes in gaming, e-commerce and digital payments, primarily in seven Southeast Asian markets. Its gaming segment is the key driver, as its new Free Fire mobile survival game is a huge hit in Asia. Carl Delfeld, our emerging markets expert, recommended SE in February, and subscribers to his Cabot Global Stocks Explorer advisory are sitting on a 152% gain.
Despite their strong gains this year, not all of the best large-cap growth stocks of 2019 have much momentum right now. Zscaler is bumping up against its 50-day moving average after falling 10% from its July highs. The Trade Desk is down 9.6% in the last two weeks; Okta is down 7%. And therein lies the catch with tech stocks: when the market is soaring, they lead the charge, and the best of them soar; but when the market retreats, the highest fliers tend to fall the hardest.
Perhaps the best chart belongs to PagSeguro, the Brazilian financial technology services company. Shares of PAGs have held up better than others during this two-week market correction, holding well above its moving averages and establishing a clear bottom at 43 after falling from as high as 48.
If PAGS can hold the line in the 43-44 range until the current market clouds part, it could push to new highs once the market gets going again.
Now, if you want to know the names of other promising growth stocks that didn’t make this list, I highly recommend you subscribe to our Cabot Growth Investor advisory, where Mike Cintolo routinely beats the market by not only uncovering the market’s best growth stocks, but protecting you from portfolio-ruining losses by setting strict loss limits.
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Investment analyst and Chief Analyst of Cabot Wealth Daily, Chris Preston brings you all the latest from the investing world. Sign up to get updates and breaking news delivered FREE to your inbox. Get unlimited access to our library of complimentary investing reports.Sign up now!
*This post has been updated from an original version, published in 2018.