Non-tech Nasdaq stocks poised for growth, including COIN, MEDP, WING, TXRH, and TSCO

From Nasdaq: 2024-06-05 08:15:00

The Nasdaq Composite rallied 43.4% in 2023, its best year since 2020. In May, it surged 6.9%, outperforming the S&P 500 and Dow. The tech rally was driven by AI adoption, despite a diverse Nasdaq structure including non-tech stocks offering potential growth. Zacks recommends five non-tech Nasdaq stocks with strong returns and growth potential.

Coinbase Global (COIN) provides financial infrastructure for the crypto economy with expected revenue and earnings growth rates above 83.5% and 100%. Medpace Holdings (MEDP) offers clinical research services with growth rates of 14.9% and 27.1%. Wingstop (WING) and Texas Roadhouse (TXRH) both show growth projections with expected revenue and earnings growth rates. Tractor Supply (TSCO) benefits from strong market share and a growth strategy.

Zacks highlights 7 top Nasdaq stocks for the next 30 days, chosen as strong buys with potential for early price pops. The list dates back to 1988, boasting an average annual gain of +24.2%, outperforming the market. Tractor Supply Co. is one of the featured companies, benefiting from a sturdy demand and strategic initiatives.

Read more at Nasdaq: Top 5 Non-Tech Winners YTD With More Potential for Growth