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I must confess, I have not always been the keenest admirer of Cathie Wood, harboring reservations about some of her choices. Notably, her backing of Coinbase (NASDAQ:COIN) and Tesla (NASDAQ:TSLA) stirred skepticism in me, given their sky-high valuations and the arduous challenges each faced. Coinbase found itself under intense pressure from Bitcoin (BTC-USD) ETFs and a precarious lawsuit by the SEC. Tesla, on the other hand, grappled with a barrage of competitors across the automobile spectrum.
Yet, every so often, Cathie Wood’s flair for spotting gems surfaces. She identified Tesla’s potential early on, well before its meteoric rise. Now, let’s delve into the trio of prime Cathie Wood prospects for the month of April, reminiscent of Tesla’s historic boom.
Exact Sciences: Charting a New Frontier
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Exact Sciences (NASDAQ:EXAS) boasts a niche in cancer diagnostics, with its standout product, Cologuard, commanding substantial revenues.
A shift may be underway. The unveiling of favorable data on a non-endoscopic esophageal cancer test on March 28 spurred a rally in EXAS stock, marking a 10% surge from March 28 to April 4. Moreover, revenue streams from various other tests by the company show promising growth trajectories. For example, Exact’s Oncoptype tests witnessed a 48% overseas revenue surge in the last quarter as compared to Q4 of 2022. Furthermore, the Predictive Oncology arm is on track to breach $1 billion in sales in the near future.
Roku: Streaming to Greatness
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Roku (NASDAQ:ROKU) reigns supreme as the foremost streaming OS provider in the U.S.
As streaming consumption escalates, Roku’s user engagement metrics are on an upward trajectory. In 2023 alone, streaming hours surged 20% to over 100 billion, while the net user base expanded by an impressive 10 million.
With marketers tailoring ad strategies based on consumer media consumption, Roku’s exponential usage growth remains integral. Consequently, the firm’s revenue surged by 13.5% in the last quarter, reaching $984.4 million. Anticipate a continued surge in Roku’s sales in the foreseeable quarters and beyond, mirroring the steadfast rise of streaming platforms.
Zoom Video: Metamorphosis of a Market Leader
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Once celebrated as a growth darling with lofty valuations during the pandemic, Zoom Video (NASDAQ:ZM) has now transitioned into a value player, sporting a modest forward P/E ratio of 12.67.
In the previous year’s final quarter, the company’s enterprise revenue exhibited a 5% uptick to $667 million, overshadowing the overall 2.7% revenue growth to $1.15 billion.
This trend hints at a shifting revenue landscape where enterprises contribute significantly while consumer sales wane. Given the deeper pockets of enterprises compared to individual consumers, this dichotomy is poised to catalyze the company’s growth trajectory over the long run.
On the publication date, Larry Ramer disclosed a long position in EXAS, a short position, and put options expiring in March 2025 on COIN. The perspectives relayed in this piece echo the sentiments of the writer, adhering to the InvestorPlace.com Publishing Guidelines.
Larry Ramer, with over 15 years of experience, has delved into U.S. stocks, contributing insightful articles. His tenure includes stints at The Fly and Israel’s premier business daily, Globes. Since 2015, Larry has lent his contrarian expertise to InvestorPlace, championing picks like SMCI, INTC, and MGM. Connect with him on StockTwits at @larryramer.
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The expressions and viewpoints put forth herein are exclusively of the author and don’t necessarily align with those of Nasdaq, Inc.
