Undervalued Large-Cap Growth Stocks on NAS August 2023

August 17, 2023

August 2023

Growth

Growth Stocks

A company is considered a growth stock when it has grown its revenue significantly in the latest quarterly report.

NASDAQ

The National Association of Securities Dealers Automated Quotations (Nasdaq) located in New York City, is the most active stock exchange by volume in the United States.

Large-Cap

Large-Cap stocks have a market capitalization of $10 billion or more.

Our Valuation

A stock is considered undervalued if it trades at a discount to our valuation. To determine a stock’s intrinsic value, we developed an algorithm that uses 6 valuation models to determine the value of a company.* To learn more about stockcalc’s valuation methods, click here.

Undervalued Growth Stocks

Stocks in this category are held primarily for capital appreciation and while they present upside opportunity, they also present downside risk.

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Symbol	Name	Close Price ($)	Valuation ($)	Difference (%)	Average Vol (30D)	Market Cap ($M)	P/E Ratio
SFM	Sprouts Farmers Market	37.53	38.22	1.84	1596004	3885	15.6
PODD	Insulet	208.29	208.29	0.00	893681	14610	231.4
LULU	Lululemon Athletica	376.30	368.96	-1.95	1030080	48024	50.3
FTNT	Fortinet	57.41	55.60	-3.15	8015890	45693	43.2
QLYS	Qualys	142.73	134.13	-6.02	329295	5343	45.3
ISEE	IVERIC bio	39.95	36.80	-7.88	5568665	5477	0.0
FOLD	Amicus Therapeutics	12.77	9.65	-24.47	2878573	3739	0.0

All data provided as at market close August 16, 2023.

Company Details

Sprouts Farmers Market

SFM:NAS

Close Price

37.53

Our Valuation

38.22

% Difference

1.84

Market Cap ($M)

3885

P/E Ratio

15.6

Sprouts Farmers Market is an American specialty grocer offering an assortment highlighting fresh and naturally derived products. Its offerings are especially focused on produce, which constituted around 20% of sales in fiscal 2022. Founded in 2002, the chain is most heavily concentrated in California, which accounted for over one third of its 386 stores as of the end of fiscal 2022.

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Insulet

PODD:NAS

Close Price

208.29

Our Valuation

208.29

% Difference

0.00

Market Cap ($M)

14610

P/E Ratio

231.4

Insulet was founded in 2000 with the goal of making continuous subcutaneous insulin infusion therapy for diabetes easier to use. The result was the Omnipod system, which consists of a small disposable insulin infusion device and that can be operated through a smartphone to control dosage. Since the Omnipod was approved by the U.S. Food and Drug Administration in 2005, approximately 360,000 insulin-dependent diabetics are using it worldwide.

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Lululemon Athletica

LULU:NAS

Close Price

376.30

Our Valuation

368.96

% Difference

-1.95

Market Cap ($M)

48024

P/E Ratio

50.3

Lululemon Athletica Inc. designs, distributes, and markets athletic apparel, footwear, and accessories for women, men, and girls. Lululemon offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. The company also sells fitness accessories, such as bags, yoga mats, and equipment. Lululemon sells its products through more than 650 company-owned stores in 18 countries, e-commerce, outlets, and wholesale accounts.

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Fortinet

FTNT:NAS

Close Price

57.41

Our Valuation

55.60

% Difference

-3.15

Market Cap ($M)

45693

P/E Ratio

43.2

Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 500,000 customers across the world.

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Qualys

QLYS:NAS

Close Price

142.73

Our Valuation

134.13

% Difference

-6.02

Market Cap ($M)

5343

P/E Ratio

45.3

Qualys Inc. is a cloud security and compliance solutions provider that helps businesses identify and manage their security risks and compliance requirements. The California-based company has more than 10,000 customers worldwide, the majority of which are small- and medium-sized businesses. Qualys was founded in 1999 and went public in 2012.

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IVERIC bio

ISEE:NAS

Close Price

39.95

Our Valuation

36.80

% Difference

-7.88

Market Cap ($M)

5477

P/E Ratio

0.0

IVERIC bio Inc is a biopharmaceutical company focused on the discovery and development of novel treatment options for retinal diseases with significant unmet medical needs. The company is developing both therapeutic product candidates for age-related retinal diseases and gene therapy product candidates for orphan inherited retinal diseases, or IRDs.

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Amicus Therapeutics

FOLD:NAS

Close Price

12.77

Our Valuation

9.65

% Difference

-24.47

Market Cap ($M)

3739

P/E Ratio

0.0

Amicus Therapeutics Inc is a biotechnology company focused on discovering, developing and delivering medicines for people living with rare metabolic diseases. The company is engaged in developing a pipeline of medicines for rare metabolic diseases, including a rare disease gene therapy portfolio.

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