Each week, Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks just under the surface and warrant attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance to uncover new information and making sense of why these stocks should be of interest.
Here's a look at the Benzinga Stock Whisper Index for the week of July 5:
E.l.f. Beauty Inc ELF: The beauty products company saw strong interest from readers as shares fell 7.2% on the week. It could be expanding its reach with several new initiatives announced. e.l.f. Beauty expanded a partnership with gaming company Roblox Corporation RBLX as the first beauty brand to test selling real-world products through the game.
E.l.f. received over 12 million visits to its Roblox experience and distributed over one million free virtual items. e.l.f. Beauty is also seeing its Alicia Keys collaboration, Keys Soulcare, join Amazon.com AMZN for a custom Alexa theme.
The new partnerships could see e.l.f. Beauty reach new consumers and increase its brand awareness. Below is a chart of the stock over the last week from Benzinga Pro.
Amphenol Corporation APH: The supplier of connectors, sensors and interconnect systems saw strong interest from readers, which comes with shares trading near 52-week highs.
There is minimal news on the stock and several analysts have been lowing their price targets over the past month.
Amphenol reported first-quarter revenue of $3.3 billion, up 9% year-over-year. The company also announced a new $2 billion share buyback, which may have led to increased optimism in the stock going forward. Amphenol is forecasting second-quarter revenue to grow in a range of 6% to 8% year-over-year.
Amphenol shares traded nearly flat over the last week, as seen in the chart from Benzinga Pro below.
MicroStrategy Inc MSTR: Shares of the software company and Bitcoin BTC/USD holder took a breather over the last week down 11%, as seen in the Benzinga Pro chart below. The company recently bought an additional 11,931 Bitcoin for $786 million. MicroStrategy has been buying Bitcoin since August 2020 and now holds 226,331 BTC, valued at around $14.9 billion.
With the price of Bitcoin falling in recent weeks, shares of MicroStrategy have followed the leading cryptocurrency lower.
Outside of its cryptocurrency holdings, MicroStrategy announced changes to its MicroStrategy ONE and HyperIntelligence platform. The company is integrating more artificial intelligence powered data insights into its platforms.
Uber Technologies UBER: The ride-share company saw shares volatile over the last week with the Massachusetts Attorney General announcing a settlement with the company. The settlement will see Uber pay a minimum $32.50 per hour for drivers and pay $175 million to settle allegations of violating state wage and hour laws.
The conclusion of the multi-year litigation could be a welcome sign for Uber and investors, but comes ahead of a key event that could impact the company's future. Tesla Inc TSLA is set to host its robotaxi day next month (Aug. 8). The event is expected to be a negative for Uber in the future, but the event could also lay out the timeline of how long it will take Tesla to reach its ambitious goals.
Bank of America recently named Uber as one of the top second-half 2024 stocks to watch.
"While there is risk of new competition, less competitive uncertainty following Tesla's robotaxi day could also benefit Uber and Lyft given overhangs," Bank of America said.
Uber shares are down 2% over the last five days, as seen on the chart below.
Taiwan Semiconductor TSM: While semiconductor giant Nvidia gets most of the attention, Taiwan Semiconductor is seeing increased interest from Benzinga readers. The interest comes with shares hitting new all-time highs. The company is also nearing a market capitalization of $1 trillion, which could put an increased spotlight on the stock.
UBS has a Buy rating on the stock and sees demand for generative AI continuing for the company. Analyst Lin Lijun sees TSMC's gross margins rising with increased AI demand.
The analyst sees TSMC gaining as a supplier to Nvidia and strong market share as a supplier in the semiconductor space.
Taiwan Semiconductor shares are up 4% over the last five days, as viewed on the chart below and are up 75% year-to-date in 2024.
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
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