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Up 9% premarket, this stock could keep rallying after solid earnings beat

Published 2024-07-24, 06:58 a/m
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Investing.com—While investors who bet on big tech companies ahead of earnings reports are still yet to see sizable profits from Q2 earnings season, other lesser-known names are rallying big time under the radar.

Such is the case for Manhattan Associates (NASDAQ:MANH), up 9% in premarket trading today after betting earnings expectations by a hefty margin. Similarly, Enphase Energy (NASDAQ:ENPH) is up 6.5% after posting solid results.

But how could one know enough to buy these companies ahead of their reports? Well, not to put you down, but the fact is picking the right winners amid the myriad of reports is a tough game to play for retail investors.

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In fact, several other picks for this month are riding the broader market rotation with double-digit gains. Just to name a couple:

  • Builders FirstSource (NYSE:BLDR): +22.3% in July.
  • Bread Financial Holdings (NYSE:BFH): +14% in July.

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  • Tech Titans: +79.00%
  • S&P 500: 31.10%

This is not a backtest; this is real-world performance, unfolded in real time to our users. In fact, our backtest suggests that going for the long run will give you even heftier gains. See chart below for reference. Tech Titans Vs. Benchmark
Source: ProPicks

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