The choppy market is making sure we have plenty of winners and losers to sort out. Nearly 650 exchange-listed stocks hit fresh 52-week highs last week, making them worthy candidates to consider among the market's top stocks. Some of the names might surprise you.
LivePerson (LPSN -2.72%), Target (TGT 0.18%), and Home Depot (HD 1.74%) are among last week's big winners. Let's see why all three of these investments are trading at their highest level in more than a year -- and in some cases scoring all-time highs.
There was a time when the provider of high-tech customer support solutions seemed to be losing its way. After 51 consecutive quarters of sequential revenue growth, business stalled in 2015. It seemed as if businesses were starting to move on from LivePerson's platform that provides proactive chat support, but LivePerson managed to tweak its offering to make it more effective and engaging for its now booming client list.
Revenue rose 15% in its latest quarter, its best top-line surge in four years. The pedal will keep hitting the metal in the near term, as LivePerson's guidance calls for 15% to 17% revenue growth in the current quarter and a 17% to 21% pop for the fourth quarter. The stock hit a new all-time high every single trading day last week, and the shares have now nearly quadrupled since the start of last year.
The "cheap chic" retailer is chic again with shoppers and shareholders, blowing up last week after a better-than-expected financial report. Comps surged 4.8% at Target, and it didn't have to resort to markdowns to move more merchandise. Operating margins improved at Target, and earnings landed just above the high end of the discount department store chain operator's earlier forecast.
Target's now a few years removed from a credibility-damaging data breach, but customers have obviously forgiven the trendy discounter. The shares were among last week's biggest gainers, soaring 24% for the week.
With recessionary fears looming, one would think the last thing on consumers' minds would be sprucing up their homes and apartments. Home Depot stock's all-time high on Thursday suggests that business is booming for the leading home improvement retailer.
But things aren't that simple, when you consider that Home Depot lowered its growth expectations last week. It now sees net sales rising 4% this year, down from the 5% target it was projecting three months ago.
Comps remain positive, though, and low rates continue to inspire home improvement projects. Home Depot is still the top dog in its niche, and it's helping make its own luck by aggressively buying back its shares to inflate its per-share results.