Uncertainties in the economic environment caused by high inflation, geopolitical tensions and supply chain challenges make it even more difficult for investors to predict a company’s performance.
At TipRanks, we provide our investors with tools that can separate the wheat from the chaff and help investors make informed investment decisions. One such tool is the TipRanks Website Traffic Tool.
The tool uses data from SEMrush Holdings (NYSE: SEMR), the world’s largest website usage monitoring service, to highlight stocks that have seen increased website traffic in recent times.
While an increase in website visits could set the stage for a strong quarter, a decline in online visits could point to a weak future.
Now let’s talk about two stocks with an increase in website traffic, which have yet to report profits this season.
With a market capitalization of $43.7 billion, Snowflake is a cloud-based company, which provides a data platform in the United States and internationally. Its platform enables customers to consolidate data into a single source to generate meaningful business insights, build data-driven applications, and share data.
The company went public in September 2020 and is known for its very high growth rates. Additionally, Snowflake has been able to consistently increase its customer base.
In its latest earnings release, Snowflake said it expects product revenue growth of 79% to 81% in the first quarter of fiscal 2023. In addition, for the full fiscal year 2023, it expects growth revenue from 65% to 67%.
Prior to its earnings release, scheduled for May 25, 2022, Kirk Materne of Evercore ISI maintained a Buy rating on Snowflake with a price target of $250 (80.1% upside potential from current levels ).
Materne said, “Our discussions with SNOW’s partners continue to be very optimistic in terms of the company’s market position and overall demand trends. Our only concern heading into print is whether the consumption of some of SNOW’s tech/”emerging” customers might create more seasonality in the business as IT spending comes under scrutiny. more thorough for some.
Overall, the street has a Moderate Buy consensus rating on the stock based on 17 buys, seven holds and one sell. Snowflake’s average price target of $268.33 implies 93.3% upside potential from current levels.
Based on website traffic trends reported by TipRanks, the company appears to be well positioned for the reporting quarter.
According to the tool, snowflake.com saw a 28.2% year-to-date increase in global unique visits, compared to the previous year. Similarly, website traffic has increased by 25.3% since the beginning of the quarter (February-April), compared to the same period last year. This indicates that the company could post strong earnings in the coming quarter.
Based in Bolingbrook, IL, Ulta Beauty is a retailer of cosmetics, fragrances, skin and hair care products, and salon services.
In his previous earnings report, CEO Dave Kimbell said, “Our outlook for fiscal 2022 reflects our expectations for beauty growth as well as the challenge to exceed exceptional performance in fiscal 2021, continued wage and supply chain cost pressures and investments in new capacity to support future growth.
For fiscal 2022, ULTA forecasts net sales to be between $9.05 billion and $9.15 billion, up 4.9% to 6% year-over-year. Same-store sales should grow in the range of 3% to 4%. The company is expected to release its first quarter results (ended April 30, 2022) on May 26, 2022.
Recently, JP Morgan analyst Christopher Horvers maintained a Buy rating on Ulta Beauty with a price target of $460. The price target implies a potential upside of 32.7% from current levels.
The rest of the street is cautiously bullish on the stock and has a Moderate Buy consensus rating based on 11 buys and five holds. ULTA’s average price prediction of $450.72 implies 30% upside potential.
An examination of the company’s website traffic trends reveals that visits to ulta.com increased 22.2% year-over-year in February-April. In addition, website traffic has increased by 16.7% since the beginning of the year, compared to the same period last year. Growing traffic to the company’s website means Ulta Beauty is expected to see growth in the quarter ahead.
In today’s uncertain economic environment, investors are more interested in making informed investment decisions. The increase in traffic to company websites reflects their popularity and growth prospects.
Learn more about the Website Traffic Tool in this video from Youtube sensation Tom Nash.
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