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The 3 Best Under $50 Stocks to Buy in August 2024
SEMrush SEMrush (US:SEMR) Investor Placeยท2024-08-08 11:10

Core Insights - The article discusses stocks priced below $50 that have potential for long-term investors due to rising revenue and earnings, along with growth catalysts and low valuations [1][2][3] Company Summaries Semrush (SEMR) - Semrush is a search engine marketing tool with a strong annual recurring revenue model, achieving 21% year-over-year revenue growth in Q1, totaling $85.8 million, with net income of $2.1 million and a net profit margin of 2.5% [5][6] - The company has nearly 112,000 paying customers and is expected to expand profit margins, with a single-year stock gain of 31% and an average price target suggesting a 19% upside [6] Upwork (UPWK) - Upwork is an online freelance marketplace benefiting from the remote work trend, despite a 25% year-to-date stock loss [7][8] - The company reported 19% year-over-year revenue growth in Q1, reaching $190.9 million, with net income up 7% to $18.4 million and a net profit margin of 9.7% [8] - Upwork has seen significant growth in ad revenue (93% YOY) and Freelancer Plus revenue (76% YOY), with over 100,000 active subscriptions for the latter [9] SoFi (SOFI) - SoFi is a digital bank offering various financial products, currently facing a 31% year-to-date stock loss [10][11] - The company reported 20% year-over-year revenue growth in Q2, with net income of $17.4 million compared to a $47.5 million net loss in the same quarter last year, and membership growth from 6.24 million to 8.77 million [11] - The digital banking industry is projected to grow at a compounded annual growth rate of 11.7% until 2033, positioning SoFi to gain market share and potentially rally by 23% from current levels [12]