From Nasdaq:

Investors often look for stocks with strong price performance, especially in tech and consumer-facing sectors. The concept of FOMO, or fear of missing out, is also a major factor influencing investors.

Dycom Industries, operating in North America and specializing in the telecom industry, has seen significant price appreciation over the years. It provides integrated services for telecom, cable, and multiple system operators, reporting a gain of 319.88% as of January 1, 2024. This return excludes dividends but includes price appreciation. Their stock has also outperformed the S&P 500.

For 2024, analysts are expecting more upside for DY. It’s projected to see a boost in demand from its top customers, leading to an increase in backlog and contract revenues. Despite this positive outlook, there are still risks associated with macroeconomic uncertainties and energy price fluctuations.
 Zacks has named Dycom Industries “Single Best Pick to Double”, with an expectation of the company’s stock to skyrocket by 100% or more in the months to come.

This under-the-radar company has shown significant growth of 65% over the last year and has soaring 2022 earnings estimates, making it a potential investment for retail investors. Zacks believes this company could rival or surpass other recent stocks set to double.

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Read more: If You Invested $1000 in Dycom Industries a Decade Ago, This is How Much It’d Be Worth Now