Short interest for Papa John's International gives investors a sense of the degree to which investors are betting on the decline of Papa John's International's stock. Short interest data is updated every two weeks.

Papa John's International Stock (NASDAQ:PZZA), Short Interest Report

Papa John's International

Papa John's is one of the largest players in the global QSR, or quick-service restaurant, pizza market, boasting more than 5,900 restaurants across nearly 50 countries at the end of 2023. The firm operates a predominantly franchised system, owning 11% of its restaurants and generating revenue from franchise royalties, sales of pizza and related products at its company-owned stores, and sales from its commissary supply chain. The firm is the fourth-largest limited-service pizza chain both in the US and globally, with a sizable presence in the UK, China, South Korea, and Chile.

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General

PZZA

Stifel&#39;s Chris O&#39;Cull shifts stance on Papa John&#39;s International to Hold, citing pragmatic near-term outlook. Despite lowering the price target to $60 amidst market turbulence, O&#39;Cull emphasizes the stock&#39;s resilience. With -1% domestic comparable sales in Q1, challenges persist, particularly in a fiercely competitive market. 

Analyst Eyes Papa John&#39;s Comparable Sales Amid Price-Value Concerns, Upgrades Stock To Hold

fast food ai

Restaurants

JACK

SBUX

Some fast food joints are cutting employee hours. Others are installing digital order kiosks — a trend that was already in full swing.

Not-So-Happy Meal: $20 Wages Has Burger Joints In This State All Heated

Markets

BURL

Papa John&#39;s International, Inc. (NASDAQ: PZZA) strengthens its partnership with franchisee Nadeem Bajwa and his company, The Bajco Group. The collaboration aims to expand PZZA&#39;s presence in North America, with plans to open 50 new stores by 2028.

Papa John&#39;s (PZZA) and The Bajco Group Expand Partnership

Papa John's International, Inc. - Common Stock

Papa John's International Inc

Papa John's International shares are trading higher after Stifel upgraded the stock from Sell to Hold but lowered the price target from $65 to $60.

Stifel&nbsp;analyst Chris O&#8217;Cull upgraded the shares of&nbsp;Papa John&#8217;s International Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) from Sell to Hold and lowered the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/PZZA/analyst-ratings" rel="noreferrer noopener">price target from $65 to $60.</a>
The analyst noted near-term expectations are reasonable and decided to move to the sidelines, given the stock&#8217;s negative sentiment and recent market volatility.
The analyst added that PZZA is in a challenging competitive position in a tough category.
The checks ran by the analyst indicate that domestic comparable sales were about -1% in the first quarter, as the system struggled to compete in an increasingly value-centric environment.
The analyst is not convinced that additional national media will meaningfully improve comps without a compelling price-value message.&nbsp;
If the comparable sales are flattish this year, the analyst doubts domestic franchisees will rush to sign long-term leases to open units, even with the franchisor offering aggressive financial incentives.
So, the analyst noted comparable sales will be a critical factor for the stock price in 2024.
The analyst lowered the FY24 EPS estimate to $2.57 from $2.65 to reflect a slower <a href="https://www.benzinga.com/calendars/guidance">domestic sales ramp during the second quarter.</a>
Price Action: PZZA shares are trading higher by 1.31% at $63.32 on the last check Monday.
Photo by Don Sniegowski via Flickr

Analyst Eyes Papa John's Comparable Sales Amid Price-Value Concerns, Upgrades Stock To Hold

Stifel analyst Chris O'Cull upgrades Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) from Sell to Hold and lowers the price target from $65 to $60.

Stifel Upgrades Papa John's International to Hold, Lowers Price Target to $60

<a href="https://www.benzinga.com/general/24/01/36493680/mcdonalds-18-big-mac-meal-goes-viral-again-as-fast-food-minimum-wage-hike-to-20-triggers-fears-of-sk">California fast-food employees</a> started earning a minimum of $20 an hour in April.
Thanks to a new law, which went into effect earlier this month, California chain restaurants with at least 60 locations nationwide have to pay their employees more. 
For smaller restaurants, the minimum wage continues to be the statewide bottom of $16 an hour.
The largest publicly-traded fast-food companies include McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>); Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>); Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), which owns Taco Bell, Pizza Hut and KFC; Wendys Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>); Restaurant Brands International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), which owns Burger King; Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>); Papa John&#8217;s International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) and Jack in the Box Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>).
Many of these stocks have lost value since the law was implemented on April 1.
Read Also: <a href="https://www.benzinga.com//node/38083611">AI Gunning For Fast Food Jobs Next? KFC, Taco Bell Operator Yum Brands Planning ChatGPT-Like Bots To Boost Operations</a>
The wage hikes were deemed necessary in the Golden State. After all, the <a href="https://www.rentcafe.com/cost-of-living-calculator/us/ca/">cost of living in California</a> is about 38% higher than the national average.
Some fast food companies are considering cutting employee hours and raising menu prices. 
In-N-Out Burger President Lynsi Snyder said in an <a href="https://www.today.com/video/in-n-out-burger-president-shares-story-behind-family-run-business-208611397732">interview</a> with Today that she "was sitting in VP meetings going toe-to-toe saying, ‘We can't raise the prices that much, we can't.&#8217;"
Her company, which owns over 400 restaurants — primarily in California — continues to be privately held. Snyder said there are no plans to go public or open up to the franchise model.
In-N-Out has, however, raised prices in Los Angeles restaurants by about 25 cents per burger. That&#8217;s still less than the price hikes other restaurants had to implement. 
According <a href="https://nypost.com/2024/04/11/business/in-n-out-president-lynsi-snyder-went-toe-to-toe-to-keep-menu-prices-down/">to</a> the New York Post, one Burger King in Los Angeles raised the price of its Double Texas Whopper by 12% from $15.09 to $16.89.
Many restaurant chains started preparing for wage hikes, even before the law was passed last September. Some companies are exploring automation as a strategy — a <a href="https://www.businessinsider.com/what-self-serve-kiosks-at-mcdonalds-mean-for-cashiers-2017-6">trend</a> that took off in 2017 with self-service ordering kiosks.
Insider <a href="https://www.businessinsider.com/california-fast-food-minimum-wage-order-kiosks-burger-king-popeyes-2024-4">reported</a> that some restaurant franchises, including a major Burger King franchise, are ordering new digital order kiosks to replace existing staff.
Burger King management recently pointed out that customers tend to order larger meals whenever interacting with digital self-service screens.
In October, after California Gov. Gavin Newsom signed the law, McDonald&#8217;s CEO Chris Kempczinski said on the company's third-quarter earnings call he expected the policy to "certainly be a hit in the short term to franchisee cashflow."
Yet the secondary effects of the new law could even replicate into further trouble for the fast food segment in the Golden State. A Jack in the Box franchise owner speculated on Sunday in an <a href="https://www.businessinsider.com/fast-food-california-expensive-diners-could-switch-to-chilis-applebees-2024-4">interview</a> with Business Insider that rising prices for fast food chains could mean a loss in market share to casual diners like Chili&#8217;s, owned by Brinker International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) or Applebee&#8217;s, a subsidiary of Dine Brands Global Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIN#NYSE">DIN</a>).
Casual dining restaurants could, in turn, benefit if they're able to keep running without altering prices.
Now Read: <a href="https://www.benzinga.com//node/37407897">Wendy&#8217;s Clarifies &#8216;Dynamic Pricing&#8217; Comments After Public Outcry, Elizabeth Warren Criticism</a>
Image from MidJourney AI.

Stephens &amp; Co. analyst Jim Salera reinstates Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Overweight and announces $75 price target.

Initiation

Stephens & Co. Reinstates Overweight on Papa John's International, Announces $75 Price Target

Papa John&#39;s International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pzza#NASDAQ">PZZA</a>) strengthens its partnership with franchisee Nadeem Bajwa and his company, The Bajco Group. The collaboration aims to expand PZZA&#39;s presence in North America, with plans to open 50 new stores by 2028. The Bajco Group, a long-term franchisee, has been integral to PZZA&#39;s growth, making this expansion a strategic move for the company. 
The new agreement will expand Papa John&#39;s footprint in The Bajco Group&#39;s existing markets across the Midwest and Arizona, Pennsylvania and Florida, furthering Bajwa&#39;s ambition to own 500 Papa John&#39;s restaurants. This adds to the more than 200 restaurants the franchisee currently operates.
<h3>Advancing Towards Back to Better 2.0 Strategy</h3>
The move aligns with its Back to Growth Program (B2G Program), a new initiative aimed at accelerating growth in North America as part of its Back to Better 2.0 strategy. This program is expected to enhance restaurant-level margins within the first five years of new restaurant operations, resulting in significant cost savings in restaurant P&amp;Ls. The anticipated outcome includes improved cash-on-cash returns for franchisees, increased market presence for Papa John&#39;s and the attraction of growth-oriented franchisees. 
Papa John&#39;s is bolstering its North America development infrastructure in line with the program. The company is reinforcing its development team through strategic hires aimed at attracting new, growth-oriented franchisees and supporting existing ones to drive accelerated franchisee growth.
<h3>Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/45/64753.jpg?v=324698180" /> 
Image Source: Zacks Investment Research
Shares of Papa John&#39;s have declined 11% in the past three months against the industry&#39;s growth of 1.3%. Although it has underperformed the industry in the said period, the company is likely to benefit from the expansion of its global footprint and enhancements in digital solutions and marketing platforms. Also, focus on product innovation and partnerships bodes well. 
Papa John&#39;s is committed to developing and maintaining a strong franchise system. The company is consistently striving to eliminate barriers to expansion in existing international markets and identify new market opportunities. Papa John&#39;s opened 36 net new restaurants in North America during the fiscal 2023 fourth quarter. In the international markets, the company opened 53 new restaurants. 
As of Dec 31, the company had a global restaurant count of 5,906, with operations in 50 countries and territories worldwide. Over the next several years, the company plans to increase its international units, a large portion of which will be franchised.
<h3>Zacks Rank &amp; Key Picks</h3>
Papa John&#39;s currently carries a Zacks Rank #4 (Sell). 
Some better-ranked stocks from the Zacks Retail-Wholesale sector have been discussed below. 
Abercrombie &amp; Fitch Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anf#NYSE">ANF</a>) currently sports a Zacks Rank of 1 (Strong Buy). 
It has a trailing four-quarter earnings surprise of 715.6%, on average. The stock has risen 323.3% in the past year. The Zacks Consensus Estimate for ANF&#39;s fiscal 2024 sales and earnings per share&nbsp;implies growth of 5.6% and 19.1%, respectively, from the year-ago levels. 
Burlington Stores, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/burl#NYSE">BURL</a>) currently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 10.1%, on average. The stock has risen 0.9% in the past year. 
The Zacks Consensus Estimate for BURL&#39;s fiscal 2024 sales and EPS indicates a rise of 10.2% and 22.3%, respectively, from the year-ago levels. 
The Gap, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gps#NYSE">GPS</a>) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 180.9%, on average. The stock has risen 124.2% in the past year. 
The Zacks Consensus Estimate for GPS&#39; fiscal 2024 sales and EPS implies a decline of 0.3% and 4.9%, respectively, from the year-ago levels.
<a href="https://www.zacks.com/stock/news/2253494/papa-john-s-pzza-and-the-bajco-group-expand-partnership?cid=CS-BENZ-FT-analyst_blog|company_news_-_corporate_actions-2253494">To read this article on Zacks.com click here.</a>

Papa John's (PZZA) and The Bajco Group Expand Partnership

Papa John&#8217;s International Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) is planning to open 50 new restaurants by 2028 in partnership with&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38158676/papa-johns-deepens-strategic-partnership-with-the-bajco-group-to-expand-presence-in-north-america-" rel="noreferrer noopener">franchisee Nadeem Bajwa and his company,&nbsp;The Bajco Group</a>.
Bajco has grown over the past 20 years to become one of Papa John&#8217;s largest domestic franchisees.
The agreement will be a boost to Bajwa&#8217;s goal to own 500 Papa John&#8217;s restaurants and expand Papa John&#8217;s footprint in The Bajco Group&#8217;s existing markets across the Midwest and in Arizona, Pennsylvania and Florida.
The arrangement will add to the more than 200 restaurants to the franchisee and the team currently operate.
&#8220;After starting his Papa Johns journey as a delivery driver, today he is one of the strongest ambassadors for the opportunities Papa Johns presents to its team members and franchisees,&#8221; said Chief Restaurant Officer Joe Sieve.
Early this year, Papa John&#8217;s unveiled the Back to Growth Program, a new development incentive program designed to accelerate growth in North America as part of its Back to Better 2.0 strategy.
The program is expected to boost restaurant-level margins during the first five years of operations of new restaurants, equating to a 600-basis point of annual cost savings in restaurant P&amp;Ls.
In line with the program, Papa John&#8217;s is making significant investments to strengthen its North America development infrastructure.
Price Action: PZZA shares closed higher by 0.38% at $63.98 on Monday.
Photo via Wikimedia Commons

Papa John's Expansion: 50 New Restaurants Set To Spice Up America's Pizza Scene

Papa John&#39;s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) (&quot;Papa Johns&quot; or &quot;Company&quot;) today announced plans to open 50 new restaurants by 2028 in partnership with franchisee Nadeem Bajwa and his company, The Bajco Group, which has grown over the past 20 years to become one of Papa Johns largest domestic franchisees.

Papa Johns Deepens Strategic Partnership With The Bajco Group To Expand Presence In North America

Keybanc analyst Eric Gonzalez maintains Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Overweight and lowers the price target from $84 to $78.

Keybanc Maintains Overweight on Papa John's International, Lowers Price Target to $78

BMO Capital Markets&nbsp;analyst Andrew Strelzik reiterated an Outperform rating on the shares of&nbsp;Papa John&#8217;s International Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) and<a target="_blank" href="https://www.benzinga.com/quote/PZZA/analyst-ratings" rel="noreferrer noopener">&nbsp;lowered the price target from $90 to $80.</a>
Yesterday, PZZA announced that CEO Rob Lynch would depart on April 30 to assume another CEO position, with&nbsp;<a target="_blank" href="https://www.benzinga.com//node/37867035" rel="noreferrer noopener">advisory support through April.</a>
The analyst is surprised with Lynch&#8217;s departure as he led PZZA&#8217;s recovery over past 4-5 years, moved HQ to Atlanta recently and also instituted major strategic actions.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37874126/shake-shack-taps-papa-johns-top-executive-as-new-ceo" rel="noreferrer noopener">Shake Shack Taps Papa John&#8217;s Top Executive As New CEO</a>
The departure adds to a growing list of leadership changes over the last year, including prior CFO, COO, Chairman of the Board and Chief Development Officer/COO of International.
The company&#8217;s interim CEO Ravi Thanawala joined less than one year ago from outside the restaurant industry.
Lynch&#8217;s departure comes at a time when Papa John&#8217;s faces competitive pressures from Domino&#8217;s Pizza Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>), unit growth pressures, challenges in its largest international market (U.K.), and questions about implications for franchisee economics from recent initiatives, noted the analyst.
The CEO departure is likely to create questions about the potential of the initiatives to drive performance until there is greater evidence, the analyst mentioned.
Though the CEO transition creates the risk of earnings rebase to position for stronger long-term performance, the analyst notes a fresh perspective may not be a bad thing for the brand&#8217;s efforts to reinvigorate sales momentum.
Recognizing near-term challenges, the long-term opportunity to capitalize remains compelling, and shares are undervalued, concluded the analyst.
The analyst lowered the price target after trimming multiple assumptions for increased uncertainty, including leadership changes, comp trajectory, and potential <a href="https://www.benzinga.com/calendars/guidance">earnings rebase under eventual new leadership.</a>
Price Action: PZZA shares are trading lower by 3.60% at $65.79 on the last check Friday.
Photo via Wikimedia Commons

Reiteration

Papa John's CEO Departure Is A Surprise, Says Analyst

Benchmark analyst Todd Brooks maintains Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Buy and lowers the price target from $95 to $87.

Benchmark Maintains Buy on Papa John's International, Lowers Price Target to $87

BMO Capital analyst Andrew Strelzik maintains Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Outperform and lowers the price target from $90 to $80.

BMO Capital Maintains Outperform on Papa John's International, Lowers Price Target to $80

BTIG analyst Peter Saleh downgrades Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) from Buy to Neutral.

Downgrades

BTIG Downgrades Papa John's International to Neutral

Fast casual restaurant chain&nbsp;Shake Shack Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) said its Board of Directors has appointed Rob Lynch to the role of Chief Executive Officer and&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/b37867084/shake-shack-names-rob-lynch-as-chief-executive-officer" rel="noreferrer noopener">board member, effective May 20, 2024</a>.
Lynch will succeed Randy Garutti, who will continue as the company&#8217;s CEO through May 20, 2024.
Lynch currently serves as President and CEO of Papa John&#8217;s International, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>), where he has driven global system-wide sales of over $5 billion <a href="https://www.benzinga.com//node/37867035">across approximately 5,900 units.</a>
&#8220;Rob&#8217;s appointment as CEO marks the beginning of our next chapter of growth as we seek to further elevate Shake Shack as a leading global brand,&#8221; said Founder and Chairman Danny Meyer.
Lynch has over 25 years combined experience in the QSR and consumer packaged goods industries and has also held senior roles at several companies.
He graduated from the University of Rochester, obtaining his B.A. and M.B.A.
Price Action: SHAK shares are trading lower by 1.15% at $107.96 on the last check Thursday.
Photo via Wikimedia Commons

Management

SHAK

Shake Shack Taps Papa John's Top Executive As New CEO

WIIM

Papa John's shares are trading lower after the company announced a CEO transition.

Papa Johns announced its Back to Better 2.0 growth strategy and international transformation initiatives earlier this year, which include a focus on deepened marketing investments, new franchisee incentives to accelerate North America development and optimizations to transform the brand&#39;s international presence.
As the Company continues to execute on these initiatives, it remains on track to achieve Adjusted Operating Income1&nbsp;in 2024 between&nbsp;$153 million&nbsp;and&nbsp;$163 million. Additionally, the Company expects net unit growth for North America to increase more than&nbsp;20%&nbsp;relative to 2023 net unit openings and anticipates International gross openings to be between 100 and 140 new International restaurants.

Guidance

Papa John's International on Track to Accomplish 2024 Adjusted Operating Income of $153M-$163M

Papa John&#39;s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) (&quot;Papa Johns&reg;&quot;) today announced Rob Lynch, President and Chief Executive Officer, will be departing Papa Johns to assume another CEO position. The Board has appointed Ravi Thanawala, Papa Johns current Chief Financial Officer, as Interim CEO effective today. To ensure a smooth transition, Mr. Lynch will provide continued support in an advisory role until April 30, 2024. The Board is conducting a comprehensive search process to identify a successor for the CEO role.

Papa John's International CEO Rob Lynch to be Succeeded by Current CFO Ravi Thanawala as Interim CEO While Board Conducted Search for a Permanent Replacement

Keybanc analyst Eric Gonzalez maintains Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Overweight and raises the price target from $80 to $84.

Keybanc Maintains Overweight on Papa John's International, Raises Price Target to $84

Wedbush analyst Nick Setyan reiterates Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Outperform and maintains $87 price target.

Wedbush Reiterates Outperform on Papa John's International, Maintains $87 Price Target

Shares of Butterfly Network, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfly#NASDAQ">BFLY</a>) fell sharply during Thursday&rsquo;s session after the company reported mixed fourth-quarter financial results.
Butterfly Network posted GAAP loss of 21 cents per share versus market estimates for a loss of 14 cents per share. The company&rsquo;s quarterly sales came in at sales came in $16.52 million versus estimates of $15.35 million.
Butterfly Network shares dipped 21.7% to $1.1588 on Thursday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Enveric Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/envb#NASDAQ">ENVB</a>) gained 177.1% to $2.30 after the company announced it has signed three non-binding term sheets with an undisclosed biotechnology company to pursue the out-licensing of compounds.</li>
<li>Societal CDMO, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sctl#NASDAQ">SCTL</a>) shares climbed 132.7% to $1.07 as the company agreed to be acquired by CoreRx, Inc.</li>
<li>Volcon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vlcn#NASDAQ">VLCN</a>) gained 55.4% to $1.8802 after surging around 39% on Wednesday.</li>
<li>Sidus Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sidu#NASDAQ">SIDU</a>) climbed 39.7% to $7.78.</li>
<li>Ocean Biomedical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocea#NASDAQ">OCEA</a>) gained 36.4% to $2.1008. Ocean Biomedical announced joint venture partner, Virion Therapeutics to present clinical study data at 2024 APASL Global Liver Meeting.</li>
<li>Inseego Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/insg#NASDAQ">INSG</a>) rose 34.5% to $3.00.</li>
<li>Vertex, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/verx#NASDAQ">VERX</a>) jumped 29.8% to $32.97 after the company reported better-than-expected fourth-quarter results and issued strong FY24 guidance.</li>
<li>iHeartMedia, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ihrt#NASDAQ">IHRT</a>) rose 29.1% to $2.93 following fourth-quarter results.</li>
<li>Agrify Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agfy#NASDAQ">AGFY</a>) gained 27% to $0.6161. Agrify announced a $3.4 million sales order from New Jersey woman-owned business HarvestWorks Farm.</li>
<li>Renalytix Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rnlx#NASDAQ">RNLX</a>) climbed 26.5% to $1.05 after the company announced that effective Mar. 1, the US approved adding the company&#39;s kidneyintelX.dkd to its 10-year Governmentwide Acquisition Contract.</li>
<li>Tutor Perini Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpc#NYSE">TPC</a>) gained 26% to $11.64 following fourth-quarter results.</li>
<li>Bright Scholar Education Holdings Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bedu#NYSE">BEDU</a>) gained 25.3% to $2.3178.</li>
<li>C3.ai, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ai#NYSE">AI</a>) shares rose 24.6% to $37.00 after the company reported better-than-expected third-quarter financial results.</li>
<li>Sterling Check Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ster#NASDAQ">STER</a>) jumped 24.6% to $15.49 after the company agreed to be acquired by First Advantage for approximately $2.2 billion, including outstanding debt.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adil#NASDAQ">ADIL</a>) gained 24% to $2.00. Adial Pharmaceuticals was awarded a new patent covering AD04 for the potential treatment of opioid use disorder.</li>
<li>Revance Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvnc#NASDAQ">RVNC</a>) jumped 24% to $7.02 after the company reported better-than-expected quarterly financial results.</li>
<li>Latham Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swim#NASDAQ">SWIM</a>) climbed 22.8% to $3.36.</li>
<li>Avidity Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rna#NASDAQ">RNA</a>) jumped 22.5% to $18.70. Avidity Biosciences announced an oversubscribed $400 million private placement.</li>
<li>Pure Storage, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pstg#NYSE">PSTG</a>) rose 21.9% to $51.35 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. Also, UBS maintained a Neutral rating on the stock and raised its price target from $38 to $44.</li>
<li>Duolingo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duol#NASDAQ">DUOL</a>) gained 21.6% to $237.82 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Okta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/okta#NASDAQ">OKTA</a>) shares rose 19.8% to $104.55 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Mersana Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrsn#NASDAQ">MRSN</a>) gained 19.5% to $5.80 after the company reported fourth-quarter financial results.</li>
<li>Establishment Labs Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/esta#NASDAQ">ESTA</a>) rose 17.8% to $45.31 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Montrose Environmental Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/meg#NYSE">MEG</a>) gained 16.7% to $38.52 following quarterly results.</li>
<li>ORIC Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/oric#NASDAQ">ORIC</a>) climbed 16.1% to $13.65.</li>
<li>SunOpta Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stkl#NASDAQ">STKL</a>) rose 15% to $6.91 following strong quarterly results.</li>
<li>TaskUs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/task#NASDAQ">TASK</a>) gained 14.4% to $14.17 following upbeat quarterly results.</li>
<li>Magnite, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgni#NASDAQ">MGNI</a>) rose 13.8% to $11.93 following strong quarterly results.</li>
<li>Indaptus Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/indp#NASDAQ">INDP</a>) rose 13.8% to $2.23.</li>
<li>Hayward Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hayw#NASDAQ">HAYW</a>) gained 13.7% to $14.88 following upbeat results.</li>
<li>Hormel Foods Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrl#NYSE">HRL</a>) rose 12.8% to $34.81 after the company reported better-than-expected first-quarter earnings and reaffirmed FY24 outlook.</li>
<li>Nxu, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxu#NASDAQ">NXU</a>) shares rose 9.2% to $0.7750. Nxu said it fully regained compliance with Nasdaq&#39;s continued listing requirements.</li>
<li>NFT Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mi#NYSE">MI</a>) shares jumped 7.9% to $0.2374.</li>
<li>Sprinklr, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cxm#NYSE">CXM</a>) gained 7.9% to $13.56. Sprinklr will replace Veradigm in S&amp;P SmallCap 600 effective prior to opening of trading on March 4, 2024.</li>
<li>Papa John&#39;s International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pzza#NASDAQ">PZZA</a>) climbed 6.8% to $74.89 following strong quarterly earnings.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>J-Long Group Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jl#NYSE">JL</a>) fell 46.3% to $6.86. J-Long Group declared a special cash dividend in aggregate amount of $6 million.</li>
<li>Golden Minerals Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aumn#NYSE">AUMN</a>) dipped 40.4% to $0.3163. Golden Minerals announced that it has elected to stop operations at its Velarde&ntilde;a Properties, located in Durango State, Mexico.</li>
<li>LivePerson, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpsn#NASDAQ">LPSN</a>) shares declined 40% to $1.43 following fourth-quarter financial results.</li>
<li>NWTN Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nwtn#NASDAQ">NWTN</a>) fell 40% to $2.99.</li>
<li>Endava plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dava#NYSE">DAVA</a>) fell 40% to $38.31 following second-quarter earnings.</li>
<li>Kineta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ka#NASDAQ">KA</a>) fell 39.7% to $1.3801 as the company announced intention to explore strategic alternatives.</li>
<li>Ironwood Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irwd#NASDAQ">IRWD</a>) fell 39% to $9.23 after the company&#39;s Phase 3 trial of once-weekly subcutaneous apraglutide did not meet two out of four key secondary endpoints.</li>
<li>Xometry, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xmtr#NASDAQ">XMTR</a>) fell 37.4% to $18.84 after the company reported fiscal fourth-quarter results and issued first-quarter guidance below estimates and disclosed a CFO transition.</li>
<li>Grifols, S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grfs#NYSE">GRFS</a>) fell 36.7% to $5.91.</li>
<li>The Chemours Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cc#NYSE">CC</a>) shares declined 33.7% to $19.05. Chemours Company named Denise Dignam as the interim CEO and Matt Abbott as the interim CFO. The company also issued preliminary 2023 results.</li>
<li>Bakkt Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bkkt#NASDAQ">BKKT</a>) fell 33.4% to $0.6792 after the company announced two securities purchase agreements.</li>
<li>CommScope Holding Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/comm#NASDAQ">COMM</a>) dipped 30% to $1.2950 after the company reported financial fourth-quarter results below estimates.</li>
<li>Critical Metals Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crml#NASDAQ">CRML</a>) fell 25.2% to $11.43.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gyre#NASDAQ">GYRE</a>) dropped 22% to $19.34.</li>
<li>Lotus Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lot#NASDAQ">LOT</a>) fell 21.8% to $7.71.</li>
<li>BYND Cannasoft Enterprises Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcan#NASDAQ">BCAN</a>) shares fell 20.2% to $0.1621. BYND Cannasoft is entering into production agreements for its EZ-G Device.</li>
<li>Snowflake Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snow#NYSE">SNOW</a>) shares tumbled 20.1% to $183.81. Snowflake reported upbeat earnings for its fourth quarter. The company said CEO Frank Slootman has decided to retire from his role as CEO but will continue to serve as chairman of the board. Sridhar Ramaswamy has been appointed as CEO and a member of the board, effective immediately.</li>
<li>Schr&ouml;dinger, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sdgr#NASDAQ">SDGR</a>) shares declined 19.9% to $25.12 after the company reported mixed fourth-quarter financial results.</li>
<li>Castle Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cstl#NASDAQ">CSTL</a>) fell 18.7% to $19.83 following fourth-quarter financial results.</li>
<li>bluebird bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blue#NASDAQ">BLUE</a>) fell 18.2% to $1.3750.</li>
<li>Inari Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nari#NASDAQ">NARI</a>) shares fell 18.1% to $47.50 after posting a loss for the fourth quarter.</li>
<li>WW International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ww#NASDAQ">WW</a>) fell 17.9% to $3.1350 after the company reported fourth-quarter financial results and announced that director Oprah Winfrey has decided not to stand for re-election at the company&#39;s upcoming annual meeting of shareholders.</li>
<li>uniQure N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qure#NASDAQ">QURE</a>) fell 16.7% to $5.57. Goldman Sachs analyst Salveen Richter downgraded uniQure from Buy to Neutral and lowered the price target from $63 to $8.</li>
<li>Amarin Corporation plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amrn#NASDAQ">AMRN</a>) fell 16.7% to $1.09 following quarterly results.</li>
<li>DoubleVerify Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dv#NYSE">DV</a>) declined 16.6% to $32.71 after the company reported fourth quarter financial results.</li>
<li>Shoals Technologies Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/shls#NASDAQ">SHLS</a>) shares dipped 16.3% to $12.89 after the company reported worse-than-expected fourth-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>Milestone Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mist#NASDAQ">MIST</a>) shares fell 16% to $1.7897 after announcing a proposed public offering of common shares and pre-funded warrants.</li>
<li>COMPASS Pathways plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmps#NASDAQ">CMPS</a>) fell 16% to $10.40 following a wider-than-expected quarterly loss.</li>
<li>FIGS, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/figs#NYSE">FIGS</a>) shares fell 15.4% to $5.10 after the company reported mixed quarterly financial results.</li>
<li>The Lion Electric Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lev#NYSE">LEV</a>) dipped 12.6% to $1.46 following fourth quarter financial results.</li>
<li>Cytek Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctkb#NASDAQ">CTKB</a>) fell 12.2% to $7.67 following fourth quarter financial results.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) shares fell 11.1% to $4.4350 following quarterly results.</li>
<li>Titan International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twi#NYSE">TWI</a>) fell 10% to $12.73 following weak sales.</li>
<li>IonQ, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ionq#NYSE">IONQ</a>) shares declined 7.2% to $10.45 after the company reported mixed fourth quarter financial results.</li>
<li>Array Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arry#NASDAQ">ARRY</a>) fell 5.8% to $13.27.</li>
<li>Bath &amp; Body Works, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbwi#NASDAQ">BBWI</a>) fell 5.2% to $45.80 after the company reported fourth-quarter earnings and issued worse-than-expected FY24 outlook. It also authorized $500 million stock buyback.</li>
<li>NetEase, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntes#NASDAQ">NTES</a>) shares fell 3.7% to $108.03 after the company reported financial fourth-quarter results below estimates.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/02/37390717/nvidia-to-rally-around-27-here-are-10-top-analyst-forecasts-for-thursday"> NVIDIA To Rally Around 27%? Here Are 10 Top Analyst Forecasts For Thursday</a>

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Intraday Update

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ARRY

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BEDU

BFLY

Bakkt Holdings, Inc. Class A Common Stock

BKKT

BLUE

CMPS

COMM

CRML

CSTL

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VERX

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XMTR

Why Butterfly Network Shares Are Trading Lower By 22%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

In a report released today, Todd Brooks from Benchmark Co. maintained a Buy rating on Papa John's International (PZZA – Research Report), with a pr...

Benchmark Co. Remains a Buy on Papa John's International (PZZA)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/stock-types/growth-stocks/">Growth stocks</a> rocketed in the first quarter as markets priced in <a href="https://apnews.com/article/federal-reserve-inflation-prices-interest-rates-cuts-502ced8f228ee469f84fc6f2eeea6e3e">Federal Reserve rate cuts</a>. Indeed, based on history, the best growth stocks to buy in April will benefit if the Fed cuts rates.



According to Schroders, stocks have had an <a href="https://www.schroders.com/en/global/individual/insights/how-do-stocks-bonds-and-cash-perform-when-the-fed-starts-cutting-rates-/">average return of 11%</a> since 1928, twelve months after the Fed began rate cuts. And, if we are just in the early innings of a bull market, growth stocks could have several years of appreciation.



Further, the bull case is even stronger based on economic data. First, the unemployment rate is at 3.8%. Secondly, real wage growth has been positive over recent months, which will buoy consumer spending. Thirdly, leading economic indicators have bottomed out and <a href="https://www.reuters.com/markets/us/us-manufacturing-sector-grows-first-time-1-12-years-2024-04-01/#:~:text=The%20ISM%20said%20its%20manufacturing,for%2010.4%25%20of%20the%20economy.">U.S. manufacturing is rebounding</a>.



So, this economic and monetary policy backdrop bodes well for these best growth stocks to buy in April. According to Finviz, the following stocks will grow earnings by 30% annually for the next five years. Therefore, expect these stocks to rally further as they outperform expectations going forward.



<h2>Shake Shack (SHAK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/shak1600-300x169.jpg" alt="A Shake Shack (SHAK) restaurant in Tokyo, Japan."><div>Source: JHENG YAO / Shutterstock.com</div></div>Shake Shack (NYSE:<a href="https://investorplace.com/stock-quotes/shak-stock-quote/">SHAK</a>) has been rallying on good news. First, in February, it reported impressive <a href="https://investor.shakeshack.com/press-releases/press-release-details/2024/Shake-Shack-Announces-Fourth-Quarter-and-Fiscal-Year-2023-Financial-Results/">fourth quarter results</a> that beat expectations. Total revenue was $286.2 million, growing 20% year over year (YOY). Shake Shack sales were up 2.8%, and it opened 41 new restaurants.



Another reason for the rally was the <a href="https://investor.shakeshack.com/press-releases/press-release-details/2024/Shake-Shack-Names-Rob-Lynch-as-Chief-Executive-Officer/default.aspx#:~:text=(%E2%80%9CShake%20Shack%E2%80%9D%20or%20the,of%20Papa%20John's%20International%2C%20Inc.">recent appointment of Rob Lynch as CEO</a>. He has led Papa John&rsquo;s International (NASDAQ:<a href="https://investorplace.com/stock-quotes/pzza-stock-quote/">PZZA</a>) since 2019 and brings in a wealth of experience. His marketing and operational expertise will be valuable in the next phase of Shake Shack&rsquo;s expansion.



Also, the restaurant has made significant improvements in profitability. In 2023, restaurant-level operating margins improved by 240 basis points to 19.9%. Management expects more improvements through order customization, tradeups, enhanced labor deployments and supply chain optimization.



Furthermore, management expects more growth in 2024 through more Shake Shack openings. They estimate 40 licensed openings and 40 domestic company-operated openings. Given these growth catalysts, analysts are bullish. TD Cowen <a href="https://www.investing.com/news/stock-market-news/td-cowen-raises-shake-shack-stock-target-to-125-upgrades-to-outperform-93CH-3328178">sees upside to $125</a> driven by margin improvements, minimal leverage and a new CEO.



Thus, Shake Shack has a long-term growth runway as it opens more restaurants. With increasing scale, profit margins will expand going forward.



<h2>DLocal (DLO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/dlo1600-300x169.png" alt="Mobile phone with webpage of Uruguayan payment company dLocal Limited (DLO) on screen in front of logo Focus on top-left of phone display"><div>Source: Wirestock Creators / Shutterstock.com</div></div>Fintechs are disrupting traditional finance and winning in the process. DLocal (NASDAQ:<a href="https://investorplace.com/stock-quotes/dlo-stock-quote/">DLO</a>) is an upcoming player that is seeing tremendous success. It supports merchants globally in making and receiving payments efficiently and safely.



Given its growth trajectory, DLocal is one of the best growth stocks to buy in April. Over the past five years, it has grown total payment volume (TPV) 14-fold to over $17.7 billion. Today, major companies like Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) and Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) are customers.



In 2023, its platform served over 600 merchants in 40 countries. TPV was up 67% YOY and revenue was $650 million, representing 55% growth. It is worth noting that most of the growth was from existing merchants as DLocal gained wallet share. Indeed, customers trust the company as exhibited by net revenue retention of 150%.



Also, management has focused on profitable growth, achieving some of the best metrics among peers. 2023 gross profit grew 37% YOY to $277 million and adjusted EBITDA was $202 million, up 32% YOY.



Looking ahead, DLocal&rsquo;s prospects are very exciting. <a href="https://www.reuters.com/technology/fintech-dlocals-fourth-quarter-profits-climb-47-2024-03-18/">Management expects a record total payment volume</a> in 2024, with 40% to 50% growth. They also forecast adjusted EBITDA between US$220 and US$260M, maintaining the focus on profitable growth. DLO stock is a profitable growth story that will roar higher.



<h2>Nextracker (NXT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/software1600b-300x169.jpg" alt="software stocks: Coding software developer work with augmented reality dashboard computer icons of scrum agile development and code fork and versioning with responsive cybersecurity"><div>Source: Shutterstock</div></div>Nextracker (NASDAQ:<a href="https://investorplace.com/stock-quotes/nxt-stock-quote/">NXT</a>) is a unique way to invest in solar growth without much risk. Unlike solar panels that are heavily commoditized, Nextracker provides proprietary software and controls for large-scale solar projects. Its solar tracker solutions align solar panels with sunlight, enhancing power production.



On that note, Nextracker is in the midst of a long-term secular growth trend. As utilities retire legacy power generation assets such as coal, renewable sources like solar will fill that gap. According to the <a href="https://www.eia.gov/todayinenergy/detail.php?id=61242">U.S. Energy Information Administration</a>, U.S. solar power generation will grow from 163 billion kilowatt hours (kWh) in 2023 to 286 billion kWh next year, representing 75% growth.



Thus, customer demand will grow, benefiting Nextracker. According to <a href="https://www.mordorintelligence.com/industry-reports/solar-tracker-market">Mordor Intelligence</a>, the tracker market will expand at a 22.38% compounded annual growth rate between 2024 and 2029. Nextracker is the global leader with over 500 patents and its products have been shipped to over 30 countries.



Due to robust demand, revenue growth accelerated in every quarter last year. In Q2 FY2024 and Q3 FY2024, it was 23% and 38%, respectively. What&rsquo;s more, it closed Q3 with a record backlog above $3 billion. For FY2024, management expects adjusted diluted EPS between $2.55 and $2.75. NXT stock is among the best growth stocks to buy in April at 20 times FY2024 EPS.



On the date of publication, Charles Munyi did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Charles Munyi has extensive writing experience in various industries, including personal finance, insurance, technology, wealth management and stock investing. He has written for a wide variety of financial websites including Benzinga, The Balance and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-3-best-growth-stocks-to-buy-in-april-2024/">The 3 Best Growth Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best Growth Stocks to Buy in April 2024

Papa Johns to add 50 more restaurants with franchisee Bajco Group

The consumer boycott of Planet Fitness is seen fading like other well-known examples

Papa John's: Back To Better 2.0 Plan's Potential Is Likely Priced In

Loop Capital Markets analyst Alton Stump maintained a Buy rating on Papa John's International (PZZA – Research Report) today and set a price target...

Papa John's International (PZZA) Gets a Buy from Loop Capital Markets

In a report released yesterday, Chris O`Cull from Stifel Nicolaus upgraded Papa John's International (PZZA – Research Report) to a Hold, with a pri...

Papa John's Hold Rating Maintained Amid Market Volatility and Sales Concerns

Papa John's comp sales critical to fuel franchise growth - analyst

Bank of America Securities analyst Sara Senatore maintained a Buy rating on Papa John's International (PZZA – Research Report) today. The company's...

Bank of America Securities Sticks to Their Buy Rating for Papa John's International (PZZA)

While Papa John's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) has had its share of reversals and controversy over the years, it's still a mainstay in the take-out pizza market. ...

Analyst Spells out Path to Victory for Papa John's (NASDAQ:PZZA)

AMZN

GOOG

GOOGL

PLNT

UBER

Press Releases

Papa Johns Declares Quarterly Dividend

Papa Johns Raises $55,286 for Canadian Nonprofit

Due to Shaquille O'Neal's Business Commitments, Papa Johns Announces He Will Not Seek 2024 Board Re-Election

Papa Johns Announces Fourth Quarter and Full Year 2023 Financial Results

Papa Johns Announces CEO Transition and Reaffirms Fiscal 2024 Adjusted Operating Income and Development Outlook

Papa Johns Launches Crispy Cuppy 'Roni Platform Featuring Premium Cupping Pepperoni Across Menu Favorites

Papa Johns to Report 2024 First Quarter Results on May 9, 2024

Papa Johns Launches Crispy Cuppy 'Roni Platform featuring Premium Cupping Pepperoni across Menu Favourites

Papa Johns Unveils New Brand Platform Honoring Pizza Fans' Unmatched Devotion

Papa Johns Deepens Strategic Partnership With the Bajco Group to Expand Presence in North America With 50 New Stores by 2028

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Papa John's International Stock (NASDAQ:PZZA), Short Interest Report

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