The buzz around artificial intelligence and Nvidia (NVDA) continues as NVDA bolts out to yet another record high. Investors that missed that move still have several stocks to watch in this bull market, including one — JFrog (FROG) — that could turn into a prince for your portfolio.
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Alongside Nvidia stock, ELF Beauty (ELF), Synopsys (SNPS), Adobe (ADBE), Arista Networks (ANET), Advanced Micro Devices (AMD) and a host of others, JFrog has leapt onto the IBD Breakout Stocks Index.
After posting a 650% spike in earnings last quarter, FROG stock has now jumped into a fresh buy zone. JFrog is now on deck to report again on, fittingly enough, Valentine’s Day, Feb. 14.
Featured in the IBD Stock Analysis in June as it launched a breakout, JFrog is a DevOps leader that tech leaders rely on to keep their platforms up to date. Big-name clients include Netflix (NFLX), Amazon.com (AMZN), Facebook parent Meta Platforms (META) and Google parent Alphabet (GOOGL).
On Wednesday, JFrog sprang back into buy range, up over 5% on in above-average volume heading into the close. It closed the session at 36.38, 3% above the buy point.
Meanwhile, ELF stock took a haircut despite beating views and hoisting its outlook. But the stock bounced off its 21-day exponential moving average to recoup much of its earlier losses.
See Who Joins Nvidia, JFrog On The IBD Breakout Stocks Index
Nvidia On Fire As These Stocks Heat Up
Like Nvidia, AMD, ASML (ASML), Paccar (PCAR) and SAP (SAP), many names on the IBD Breakout Stocks Index have climbed beyond buy range. But not all.
Featured on Feb. 1, Synopsys continues to flirt with a 554.57 buy point in a cup with handle. The IBD Long-Term Leader reports earnings on Feb. 21.
Burger chain Shake Shack (SHAK) has also served up a cup with handle, this one with a 76.74 entry. The company reports on Feb. 15.
Generative AI leader Adobe has more time before it releases its next performance report in mid-March. Adobe stock has formed second-stage flat base showing a 633.89 buy point. It pulled back Tuesday but held support at its 50-day line and is now back above its 21-day benchmark.
As JFrog and others set up and Nvidia gets set to report on Feb. 21, keep an eye on the earnings calendar to see when each company reports.
ETF Featuring Nvidia, JFrog And More Breaks Out
The Innovator IBD Breakout Opportunities ETF (BOUT) makes it easy to own shares in Nvidia, JFrog and the other stocks on this screen. Updated and rebalanced weekly, the BOUT ETF has formed a cup with handle of its own.
The buy point is 33.90. Trading above both its 21-day and 50-day moving averages, the BOUT ETF has now climbed past the entry and into buy range. Shares in the BOUT ETF popped Wednesday in heavy volume.
Especially during earnings season, owning the BOUT ETF helps mitigate the risk of holding Nvidia, JFrog, Synopsys, Shake Shack and others as they get set to report. It now stands just shy of the new entry.
Click here to see all the companies currently featured on the IBD Breakout Stocks Index and the related BOUT ETF.
IBD Breakout Opportunities ETF
The IBD Breakout Opportunities ETF (BOUT) from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this fund allows you to invest in the entire index in addition to, or rather than, buying individual stocks. Learn more here about the ETF and Innovator.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
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