Qorvo Inc. (NASDAQ: QRVO) is a promising stock to watch in February, thanks to strong company earnings and a predicted upside. Investors looking for gains in today’s bull market can consider this pick.
Qorvo is a specialist technology company offering solutions for mobile infrastructure and aerospace applications. With cellular technology frequently advancing, especially with the nationwide rollout of 5G, Qorvo is in a good position to capitalize on institutional spending. The most recent earnings report reflects the company’s strength today. Earlier this month, the company reported quarterly earnings per share of $2.67, beating the average estimate of $1.86 per share. Revenue of $1.09 billion was a significant improvement over the $869.07 million reported in the year-ago period.
Earnings reports have now beat expectations in four of the previous consecutive quarters. Analysts expect that this momentum will create an upside for the stock as investors take note of the strong fiscal performance. An average target price of $196.10 per share suggests significant gains over the coming months.
- 1 Year Price Growth: 15%
- YTD Price Growth: 58%
- 3 Month Price Growth: 18%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.