At Option Millionaires, we are all about growth stocks. Being ahead of the market on these stocks can be VERY rewarding. We brought you LinkedIn (LNKD) at $80 which moved 35% over the past few months. We now bring you Shutterfly, Inc (NASDAQ:SFLY).
Just like LinkedIn (LNKD), it took an earnings report to show it's ready to take the market by storm. Shutterfly, Inc (NASDAQ:SFLY) was a once high flying stock in 2011, hitting a high of $66.70 in April 2011. It fell all the way to $21.34 on growth concerns. It's recent acquisition of Kodaks online photo service, was another step in the right direction. A step that came at the expense of short term profits, but sets the stage for long term growth.
Shutterfly, Inc (NASDAQ:SFLY) earnings report after the bell showed a 72% YoY growth of personalized products (Photo Books and cards), which accounts for 77% of the companies revenue. They also grew their customer base by 16% to 1.6 million. Obviously the Kodak acquisition will help with that number.
We really like this company for the near term, and think the stock will head toward $45.
We alerted the $40 calls in our chatroom this afternoon. Stay tuned for more about Shutterfly, Inc (NASDAQ:SFLY) in the coming days.