Technology

Top Stock Picks for Week of August 19, 2019

GW Pharmaceuticals plc GWPH, is a biopharmaceutical company focused on discovering, developing and commercializing therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. This is one of the most exciting growth stories in medicine right now. Within the past quarter, the Zacks Consensus Estimate for GWPH's full-year earnings has moved higher by double digits. This is a sign of improving analyst sentiment and a positive earnings outlook trend.  GW Pharmaceuticals is performing better than its sector in terms of year-to-date returns. Average analyst price targets are now over $200 based on the blockbuster sales growth potential ($1-2 billion) of the only FDA-approved cannabis-derived drug maker, who also happens to have a 20-year track record of innovation and a burgeoning pipeline.

Chegg, Inc. CHGG, rents and sells print textbooks; and provides eTextbooks, and other supplemental educational materials and services.  The company is coming off a stronger-than-projected second quarter and its business model, which has expanded, appears strong. Looking ahead, our current Zacks Consensus Estimates call for the company’s third-quarter 2019 revenue to surge by double digits. Fourth quarter sales are projected to jump by double digits as well. Overall 2019 revenue is expected to climb roughly 25%. Peeking further down the road, Chegg’s fiscal 2020 revenue is projected to pop approximately 19.4% above our current year estimate.

The Hottest Tech Mega-Trend of All                 

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >> 


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