Top Stock Picks for Week of October 12, 2020

Source

Square, Inc. (SQ), offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers to start, run and grow their businesses. Square is gaining on strong Cash App engagement and its expanding customer base. Further, rising bitcoin revenues owing to robust Cash App are contributing well to the top-line. Also, strong adoption of Cash Card is a major positive. Additionally, the company’s strengthening momentum in online channels and growing card-not-present GPV are expected to remain tailwinds. Moreover, robust online products, such as Square Online Store, Invoices, Virtual Terminal and eCommerce API are expected to accelerate the GPV growth in the near term. Further, solid acquisition of net-new transacting active Cash App customers is likely to continue driving the top line growth. The stock has outperformed its industry on a year-to-date basis. Square has a strong balance sheet. The company will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020.

Toll Brothers Inc. (TOL), builds single-family detached and attached home communities; master planned luxury residential resort-style. Shares of Toll Brothers have outperformed the industry in the past three months. In the past seven days, estimates for current quarter and year have witnessed upward revisions, reflecting optimism over the company’s growth prospects. Favorable housing backdrop, lack of competition in the luxury new home market and buyout synergies have been driving the company. The recent trends observed by Toll Brothers suggest more resilient housing market than anticipated earlier. Notably, its Q3 orders grew 26% y/y and average signed contracts per community (sales absorption) increased 20% to 8.5 (the highest third quarter in 15 years). At fiscal third quarter-end, Toll Brothers had $2.34 billion of total liquidity, comprising $559 million in cash and $1.78 billion in revolver capacity.

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