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Yahoo
4 days ago
- Business
- Yahoo
TipRanks ‘Perfect 10' Picks: 2 Top-Scoring Stocks That Check All the Right Boxes
After a stretch of volatility that came off the back of President Trump's global tariff announcements, the stock market has shifted back into rally mode as worries over the proposed tariffs have eased. The S&P 500 has jumped 20% from its April low, while the tech-heavy Nasdaq has surged 27%. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The gains have investors in a mood to buy – but the uncertainties have them wondering just how far to take that. In a climate like this, it's good to have a reliable navigational aid for the stock markets, a tool to point out just which stocks show the highest potential for gains, no matter how events shake out. That's where TipRanks' Smart Score comes in. Powered by AI, this tool sifts through millions of daily stock transactions and evaluates equities based on factors shown to predict future performance. Each stock is rated on a scale from 1 to 10, with 'Perfect 10' stocks checking all the right boxes. We used the tool to pinpoint two of these top scorers. Both carry 'Strong Buy' consensus ratings and offer double-digit upside potential. Here's what you need to know. Enova International (ENVA) First on our list of 'Perfect 10' stocks is Enova International. This alternative online financial services company focuses on providing credit and financial access to small business and consumers who are underserved by the regular banking sector. Since it started operations in 2004, Enova has become a $2.38 billion company in a growing sector of the finance industry and has provided funding for over $61 billion in loans to more than 12 million customers. Enova uses a world-class, machine learning platform to provide services to its mainly non-prime customer base. The company operates through a network of businesses. On the consumer credit side, these include CashNetUSA and NetCredit in the US market, providing access to installment loans, CAB loans, credit lines, and personal loans. Outside the US, Simplic operates in Brazil and Pangea works in Latin America and Asia. On the small business side of the operations, OnDeck, Headway Capital, and Business Backer provide services customized for the small business community, including term loans and lines of credit, small business loans, and funding solutions for working capital. All of Enova's business segments are supported by strong data analytics and machine learning algorithms, allowing the company to tailor its financial services to the specific needs of each customer. In its more than 20 years of operations, the company has collected an impressive database of loan histories and customer behavior, allowing it to fine-tune its machine-learning platform, improving its ability to meet its customers' needs while ensuring that customers are able to repay loans. In recent quarters, the company has seen steady growth in both revenues and earnings. Enova last reported its financial results for 1Q25, and in that quarter saw revenue of $746 million and a non-GAAP EPS of $2.98. The top line was up more than 22% year-over-year and beat the forecast by $11.86 million; the bottom line was 22 cents per share better than had been expected. Enova's credit performance was described as strong during the quarter; the net charge-off ratio was stable at 8.6%, and the consolidated 30+ day delinquency ratio was 7.7%. The company reported total liquidity, including cash, liquid assets, and available credit facility capacity, of $1.1 billion. For Seaport analyst Bill Ryan, the key points here are Enova's strong edge in data analytics and its status as a leader in online lending. He writes of the company, 'Our Buy rating reflects several factors beginning with the data that has been collected since 2004, which we believe provides the company with a strong competitive advantage, particularly in loan underwriting and generating superior credit performance. Competition is fairly limited and the company's market share is very small as well, which should allow ENVA to provide controlled growth over the long-term in the sub- and non-prime consumer loan markets, and in its small business lending platform.' 'Enova's business is highly scalable since it is an online only lender, and variable costs represent over 50% of total expenses. We believe the company's consumer lending business will prove more resilient in economic downturns which has been a concern for investors recently. This is due to very high margins, manageable credit loss volatility for subprime borrowers based on historical performance, and a more variable cost structure,' Ryan went on to add. Along with that Buy rating, Ryan gives ENVA a $124 price target that points toward a 33.5% gain in the next 12 months. (To watch Ryan's track record, click here) Overall, this lender's Strong Buy consensus rating is based on 7 recent analyst recommendations, which include 6 to Buy and 1 to Hold. The shares are priced at $92.85 and the average price target, of $126, is slightly more bullish than the Seaport view, suggesting a one-year upside potential of 36%. (See ENVA stock forecast) Iridium Communications (IRDM) Next up on our list of 'Perfect 10s' is Iridium Communications, a global satellite telecommunications company that offers a range of communications solutions to keep people connected – anywhere on Earth, on land or sea or in the air, from pole to pole. That's a tall order, but Iridium fills it with a combination of modern tech and skillful applications, offering services ranging from satellite phones to mobile broadband access. The company's technology and services are used by more than 2.4 million billable subscribers. Iridium offers a variety of subscription plans, tailored for customers of every sort, at every scale. Plans can be tailored for individual, personal use; for business and organizations; and for governmental and non-governmental organizations. The company bases its service on a constellation of satellites, positioned in low Earth orbit (LEO). By using an LEO configuration for its satellite network, Iridium requires a larger fleet – but can offer stronger signals and faster connections. Iridium's constellation orbits the planet at altitudes of approximately 485 miles, much closer to the surface than the 22,000-mile-high geostationary orbits used by most competing networks. This allows Iridium to offer its benefits with a fleet of satellites featuring smaller, lower-powered antennas without sacrificing signal clarity and operating at lower costs. Iridium deployed its first satellite in 1997, had the network at full capacity in 1998, and completed a full system upgrade in 2019. Iridium's LEO constellation configuration offers one additional benefit. Geostationary satellites orbit over the equator, making coverage at the Earth's higher latitudes, both north and south, more difficult. This is not an issue with LEO satellites in polar orbits – their normal paths cover the poles and high latitudes, giving Iridium clear coverage across the entire planet. Iridium's products and services have found use in a wide range of applications, from adventure travel to ocean communications to remote area exploration to secure government voice links. In addition, Iridium is entering the PNT market – that is, position, navigation, timing – which is essential in providing accurate GPS, mapping, and locator services. Iridium entered the PNT segment last year, through its acquisition of the satellite technology company Satelle. On the financial side, Iridium reported its 1Q25 results this past April. At the top line, the company had total revenues of $214.9 million, which beat the forecast by over $3 million and translated into 5% year-over-year growth. Iridium's earnings per share came to 27 cents, or 6 cents per share better than had been expected. This stock caught the eye of Oppenheimer analyst Tim Horan, who is upbeat about Iridium's positioning in the LEO satellite service segment. The 5-star analyst says of the company, 'In our opinion, the company is not well understood by the Street. Although it will compete with other LEO operators such as Starlink and AST SpaceMobile, IRDM's service is the only truly global coverage with guaranteed service, and it will now have a unique global PNT service… The company is positioned as the leader in satellite-based global IoT communications, has entered the PNT market through its Satelles acquisition, and has a growing direct-to-device opportunity as new standards are set to support compatibility with unmodified smartphones.' Horan puts an Outperform (i.e., Buy) rating on this stock, and his $34 price target implies a one-year upside potential of 29%. (To watch Horan's track record, click here) The 5 recent analyst reviews of this stock break down 4 to 1 in favor of Buy over Hold, giving IRDM its Strong Buy consensus rating. The shares are priced at $26.34 and their $36 average price target suggests a gain of 36.5% in the year ahead. (See IRDM stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. Disclaimer & DisclosureReport an Issue
Yahoo
25-02-2025
- Business
- Yahoo
New Report: New Year Brings Increased Optimism Around Growth Expectations for Main Street Businesses
CHICAGO, Feb. 25, 2025 /PRNewswire/ -- Small businesses are increasingly optimistic about their growth expectations in 2025, according to the latest Small Business Cash Flow Trend Report from OnDeck, the leading small business lending company at Enova (NYSE: ENVA) and Ocrolus, the document AI and cash flow analytics platform for lenders. Key findings include: Optimism and Growth: 94% of small businesses anticipate significant or moderate growth in 2025, a 2% increase compared to Q3 2024. Top Challenges: 37% of small businesses cited inflation as a top concern, followed by 30% of respondents who identified cash flow as their primary challenge in the current economic environment. Access to Working Capital: More small businesses are turning to alternative lenders for their financing needs, as 76% of respondents bypassed applying for traditional bank loans, up from 62% in Q4 2023. "Small businesses are entering the new year with confidence, and we're seeing that optimism translate into plans for expansion and hiring," said Jim Granat, Co-President of Small Business at Enova. "We're seeing more businesses proactively seeking out alternative lenders like OnDeck, and we're proud to serve as a trusted partner when they need capital to fuel their next stage of growth." "Fast and flexible funding solutions are critical for small businesses, as they position themselves for growth and success amidst shifting market conditions," said David Snitkof, SVP of Growth at Ocrolus. "To meet this need, small business funders are reevaluating their underwriting funnels to leverage data sources that provide a complete understanding of business financial health. We're seeing cash flow data play a much larger role in underwriting, helping funders qualify applicants with promising financial performance who may have otherwise been denied and expanding access to capital to help small businesses thrive." The report is based on responses from 454 small businesses with working capital loans and over 2 million small business applications for working capital financing during the past 15 months. The nationwide survey was completed between December 2-11, 2024. For more information and complete survey results, please visit: About OnDeck®OnDeck®, part of Enova International, is the proven leader in transparent and responsible online lending to small businesses. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. OnDeck has provided loans to customers in 900 different industries nationwide. For more information, visit About EnovaEnova International (NYSE: ENVA) is a leading financial services company with powerful online lending that serves small businesses and consumers who are underserved by traditional banks. Through its world-class analytics and machine learning algorithms, Enova has provided more than 11.8 million customers with over $59 billion in loans and financing. You can learn more about the company and its portfolio of businesses at About OcrolusOcrolus is a document AI platform that enables faster and more accurate financial decision-making. The company analyzes documents with over 99% accuracy, regardless of format or quality, supporting over a thousand document types, including bank statements, pay stubs, and tax forms. Ocrolus provides a trusted solution to detect fraud, analyze cash flows and income, and streamline decisions for 400+ clients across a number of use cases. Customers such as Enova, PayPal, Brex, CrossCountry Mortgage, Plaid, and SoFi leverage Ocrolus automation to build delightful user experiences. To learn more, visit View original content to download multimedia: SOURCE Enova International, Inc. Sign in to access your portfolio
Yahoo
29-01-2025
- Business
- Yahoo
World's first ‘wall-of-turbines' gets funding boost for offshore deployment
The world's first-ever 'wall-of-turbines' took a major step towards becoming a reality after Norwegian technology incubator Enova granted the concept 1.2 billion kroner (US$107 million) funding to build the first demonstrator site. Wind Catching Systems (WCS), the company that proposed the concept, is expected to project by 2029, a press release said. As the world looks for greener ways to power its economy, solar and wind power plants are being installed at an unprecedented scale. For countries with larger coastlines, offshore wind projects are preferred since they do not occupy land, freeing it up for other purposes. Over the years, equipment manufacturers have been scaling up the size of the wind turbines to maximize the energy conversion from high-speed winds. However, this has also thrown up other challenges during the construction and maintenance of the turbines. Bigger supporting infrastructure, such as cranes, is required to maintain offshore wind farms, increasing energy production costs. Norway-based Wind Catching Systems has a relatively simpler solution to this problem. Founded in 2017, WCS' journey began with the question of whether the conventional approach of using a single turbine for energy production was right. Instead, the founders devised a radically different multi-turbine design that could maximize energy generation in a given area. Instead of a single turbine sweeping a large area, WCS's WindCatcher uses multiple small turbines arranged in a wall-like pattern. According to the company, the 1 MW turbines used in its setup can capture 2.5 times more energy per square meter of wind flow than a standard three-blade turbine. The smaller size of the turbines allows them to be mass-produced at a lower cost. In case of failure of one turbine, the WindCatcher continues to operate with other functional turbines without a significant drop in energy production. Replacement of the failed turbine can be carried out on-site without requiring specialized ships or cranes, reducing maintenance costs. As per the press release, the world's first demonstrator for the Windcatcher will be located northwest of Bergen, outside the municipality of Øygarden and north of Vestavind in Norway. Financial support for the project comes from Enova, the country's technology incubator, supported by the Ministry of Climate and Environment. The Demonstrator will use 40 one-megawatt (MW) turbines to showcase the concept's performance and cost-effectiveness. With a 40 MW installed capacity, the demonstrator will generate 99 GWh of energy annually. While Norway currently has expertise in oil and gas, the government is keen to build technology and products for the renewable energy sector. Enova's call for innovative designs for offshore wind projects received nine applications, from which WCS was selected. "The technology that the Wind Catching Demonstrator uses has great potential, and the company behind the project has worked hard for several years to mature the technology and reduce the risk," explained Oskar Gärdeman, senior advisor for floating offshore wind at Enova. "Our role is to ensure technology development and in this way reduce costs," said Nils Kristian Nakstad, CEO of Enova, in the press release. "It is gratifying that several players want to take the lead in such an exciting venture." The support scheme is intended to make floating offshore installations in Norway faster and cheaper. Norway has ambitious plans to float 30 GW of offshore wind energy projects by 2040.
