Canadian Solar Inc. CSIQ, is a vertically integrated manufacturer of silicon ingots, wafers, cells, solar modules (panels) and custom-designed solar power applications. Canadian Solar Canadian Solar has one of the world’s largest utility-scale solar project development platforms, with commercial operation over 5.6 GWp of solar power plants. It has a strong project pipeline and continues to identify attractive development opportunities to redeploy capital and ensure future success. Of late, it has expanded its global late-stage project pipeline into nations like Argentina, Australia and South Korea. Such project pipeline reflects solid growth prospects for this stock through monetization of its global, solar project assets. Its shares have outperformed the industry in the past month. Canadian Solar’s cash and cash equivalents were $1,151 million at the end of first- quarter 2020, while its long-term debt of $666 million as of Mar 31, 2020 was much lower than its cash reserve. This reflects a strong solvency position on the company’s part, which is further evident from the sequential improvement in its financial ratios.
Zscaler Inc. ZS, operates as a cloud security company. It focuses on transforming networks and applications for a mobile and cloud-first. The cloud computing space is benefiting from the changing consumer preference amid the coronavirus crisis. Cloud-based solution-providing companies are making the most of the battle against the pandemic, wherein mass gatherings are strictly restricted and people are being increasingly asked to work from home. One such company is Zscaler Inc. It has been benefiting from steady rise in demand for cloud security as the work-from-anywhere trend continues to gain momentum. The Zacks Consensus Estimate for fiscal 2020 earnings has been revised upward in the past 30 days. The company has an expected earnings growth rate of double digits for next year (ending July 2021). The stock has climbed by triple digits year to date.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report
Zscaler, Inc. (ZS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research