While 2021 has been a great year for stock investors, with 20% and more gains across the major indexes, just five stocks accounted for the lion’s share of the upside in the S&P 500. The median price-to-earnings ratio for the S&P 500 is at the highest level since the dot-com collapse in 1999 and 2000 as well. Many of the top stocks in 2020 that investors held in 2021 were absolutely hammered this past year.
When screening our 24/7 Wall St. research database looking for stocks that were big candidates for tax-loss selling this year, we came across four top companies that were absolutely blistered. These four stocks are all down 30% or more this year but have incredible prospects and look like great ideas for growth stock aficionados looking for stocks to rotate into their portfolios.
All four are rated Buy at major Wall Street firms, but it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This remains a top gaming pick on Wall Street, and it could be a very solid idea now. Activision Blizzard Inc. (NASDAQ: ATVI) develops and publishes online, personal computer (PC), video game console, handheld, mobile and tablet games worldwide. The stock is down a stunning 36% since posting highs in January.
The company develops and publishes interactive entertainment software products through retail channels or digital downloads and downloadable content to a range of gamers. Its legacy franchise Call of Duty continues to be hugely popular.
Investors receive a 0.51% dividend. The Raymond James $90 price target compares to the consensus target of $92.47. The most recent Activision Blizzard stock trade was reported at $65.16 a share.
As the economy continues to ramp up in 2022, this top company should benefit in a big way. Global Payments Inc. (NYSE: GPN) provides payment technology and software solutions for card, electronic, check and digital-based payments in North America, Europe, the Asia-Pacific and Latin America.
The company operates through three segments. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
The Issuer Solutions segment offers solutions that enable financial institutions and retailers to manage their card portfolios through a platform, as well as commercial payments and ePayables solutions for businesses and governments.
The Business and Consumer Solutions segment provides general-purpose reloadable prepaid debit and payroll cards, demand deposit accounts and other financial service solutions to the underbanked and other consumers and businesses under the Netspend brand.
Shareholders receive a 0.50% dividend. Raymond James has a $195 price target on Global Payments stock, while the consensus target is $190.95. The stock most recently closed at $135.37 a share.