The 3 Most Undervalued Under $20 Stocks to Buy in July 2024

Core Viewpoint - The article discusses undervalued stocks available for purchase under $20 per share, highlighting potential growth opportunities based on analyst price targets and company performance metrics. Group 1: Company Performance - Analysts expect revenue growth for the companies mentioned, with an average price target suggesting an upside of 58$9.34 [2] - The firm has achieved a compound annual growth rate of 5.6% in revenues from 2019 to 2023, outperforming U.S. clothing stores overall [3] - Bumble has increased its number of paying users by 18% over the past year and its revenues by 10%, despite a general decline in dating app usage among young people [13] Group 2: Stock Valuation - Several stocks mentioned have implied upside potential between 50% and 100% based on their current prices compared to average analyst price targets [6] - Bumble's shares are down 33% year-to-date and 50% over the past 12 months, with an average price target of $21 implying a 65$12.75 [9] - Getty Images has seen a 36% decline in shares so far in 2024, making it one of the more undervalued stocks in the communication services sector [10] Group 3: Market Context - The overall market has risen substantially over the past several years, yet the stocks discussed have experienced significant declines, indicating potential buying opportunities [17] - Lowering inflation is expected to help drive down costs for companies, while potential interest rate cuts later in the year could boost demand [20] - The fallout from the WGA Writers Strike in 2023 has affected Getty Images, reducing revenue from selling pictures of Hollywood stars [21]