Today's Investor's Business Daily Screen Of The Day is the Relative Strength At New Highs. Relative strength lines are a way to compare a stock's performance to the S&P 500's over the last 12 months. Jabil, new issue eToro Group stock, and MasTec all made the IBD screen as they have far outpaced the benchmark index. All three stocks are on the IBD MarketSurge Growth 250.
Israel-based eToro stock saw more volatile action Monday and ended the session 10.6% higher. The IBD Leaderboard watchlist name on Monday shot above a buy point for its first base since going public.
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EToro Stock Breaks Out Of Its First Base
The stock had its initial public offering on May 14 at 52 a share.
Shares of eToro drew additional interest Monday as several analysts initiated coverage on the new name. Included were Mizuho with an outperform rating and an 80 price target, and UBS with a neutral recommendation and a 70 projected price.
EToro stock reached the 74.28 buy point of an IPO base on Monday. Shares are in the buy zone up to 77.99. Early entry points were also seen using Wednesday's high of 66.55 and Thursday's high of 71.48.
The company on Tuesday posted first-quarter earnings of 69 cents a share, down from a year earlier but above a limited analyst consensus of 59 cents to 61 cents a share. Total revenue and income increased 11% to $3.75 billion.
EToro offers a trading platform for stocks, ETFs, options, cryptocurrencies and other assets.
As of Dec. 31, eToro had over 35 million funded accounts in over 75 countries, $16.6 billion in assets under management, and produced $931 million in total commissions.
Jabil Stock Hits New High
Jabil stock is in the 5% buy zone up to 179.45 of a cup-with-handle base with a 170.90 buy point.
Shares climbed 0.4% and closed at a record high Monday. The stock has risen around 23% so far this year.
Jabil is expected to report its fiscal third-quarter earnings results June 17. Estimates show profit climbing 21%, then an average of 18% over the following three quarters. This shows improvement from its 15% increase in the fiscal second quarter and four declining quarters before that.
Jabil reported seven straight quarters of declining sales — though the declines lessened to 1% in fiscal third quarter. Projections show sales rising an average 4% over the next four quarters.
Mutual funds padded their positions in Jabil stock, with 1,639 owning shares in March, up from 1,590 in December.
Jabil is a manufacturing company with over 100 locations in more than 30 countries. It serves a variety of industries including automotive electronics, cloud data centers, commercial vehicles, aerospace, and drones.
MasTec In A Buy Zone
On Friday, MasTec stock broke out of an early-stage cup-with-handle base with a 161.46 buy point. Shares retreated 0.8% Monday, but remain in the buy range up to 169.53.
The stock has continued its ascent since it gapped up 5.2% on May 1, following a better-than-expected first-quarter earnings report. It also raised its 2025 earnings and sales guidance.
MasTec's first-quarter profit grew to 51 cents per share from a loss of 17 cents per share in the prior year. Revenue rose 6% following a flat quarter and a 4% increase over the prior two quarters.
Full-year 2025 profit forecasts have recently been revised up to a 43% increase, then 15% in 2026.
The infrastructure construction company services the energy, power, communications, and oil and gas industries. MasTec also has expertise in electric vehicle charging stations and power plants.
MasTec stock's 1.6 up/down volume ratio shows positive demand over the last 50 days. Lastly, it holds a 96 IBD Composite Rating.
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