Top 10 Stocks To Picks in 2021 From Century Financial

21 January 2021
www.century.ae
Century
Top 10 Picks 2021

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Top picks 2021
A Quick Glance
Instrument Name
Teladoc Health Inc
Draftkings Inc
Toyota Motor Corp ADR
Zoominfo Technologies Inc
eHealth Inc
Azure Power Global
Nomura Holdings Inc (ADR)
Clover Health Investments Corp
Yelp Inc
Market cap
in Billions
52 Week
Low
52 Week
High
Price on
20/01/21
$35.8
$20.8
$5.7
$244.7
$18.3
$1.84
$2.2
$18.0
$6.1
$2.4
$246.7
$93.6 $253.0
$10.6 $64.2
$53.2
$3.5 $65.1
$64.4
$108.0 $156.3
$150.0
$30.8 $64.4
$47.0
$60.4 $152.2
$77.9
$11.8 $53.6
$45.6
$3.6 $5.8
$5.6
$9.9 $17.5
$13.7
$12.9 $36.9
$32.0
Buy
20
18
4
2
13
11
5
3
1
3
Hold
Bloomberg Analyst Recommendations
Sell
11
9
2
1
4
2
1
7
0
15
0
1
0
0
0
0
0
1
0
2
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Digital turbine Inc

Teladoc Health
Security name Teladoc Health Inc
Buy
20
Hold
11
Sell
0
Analyst rating
Teladoc Health is a virtual health pioneer. The company provides
internet access to healthcare professionals 24/7 for patients around the
world.
Not surprisingly, the demand for the company's services has dramatically
increased in 2020, the year of COVID-19. The coronavirus has
highlighted the need to offer digital and remote healthcare services,
particularly during crises. Teladoc was able to seize the moment, as it
had already built a strong baseline product offering before the pandemic
hit. As a result, shares have nearly quadrupled over the past year. Total
telemedicine visits hit 2.8 million in the second quarter, up 203% from
the prior-year period. But it's not like Teladoc was a slouch before
COVID- 19. Assuming $1 billion in annual sales in 2020, Teladoc's
compound annual growth rate since 2013 is 75%.
The thing is, telemedicine is a win for the entire healthcare treatment
chain, with physicians able to attend more patients, insurers paying less
in fees than an in-office visit, and the patient having the convenience of
consulting with a physician from home.
Teladoc recently completed the merger with healthcare solutions
provider Livongo Health in a cash and-stock deal. Livongo aggregates
data for patients with chronic illnesses and, using artificial intelligence as
an aid, sends its members tips and nudges to incite behavioral changes.
Currently, Livongo Health has more than 410,000 diabetes members and
has been at least doubling its member count on a year-over-year basis.
With Teladoc and Livongo now one company, it's going to be a
telemedicine/personalized solutions powerhouse.
Last price on 20th
Jan $246.7
52 week low $93.6
52 week high $253.0
Market Cap in Billions $35.8
Shares outstanding
(million) 144.96
Average 30 Day volumes 2857482
Beta 0.4
Forward Price to Sales 20.1
Forward EV to Sales
Estimated
Revenue Growth %
18.2
80%
Price Chart
x
x

Draftkings Inc
Security name Draftkings Inc
Buy
18
Hold
9
Sell
1
Analyst rating
$53.2
52 week low $10.6
52 week high $64.2
Shares outstanding
(million) 391.71
Forward EV to Sales
Estimated
Revenue Growth %
23.0
54%
The leader in fantasy sports wagering and a rising player in more
traditional sportsbook gambling saw its revenue climb by 42% in its
latest quarter, despite the new normal with shorter seasons and so many
games forbidden amid COVID-19 outbreaks.
The year ahead should get far more predictable, as a packed calendar
for the winter/early Spring, including college football championships,
March Madness, and the Super Bowl should drive increasing amounts of
viewership and mood to gamble on these events.
In the meantime, DraftKings did not lose sight of its opportunity to grow
its access. DraftKings has signed recent partnerships that make it the
exclusive sportsbook provider for ESPN, Turner Sports, and individual
leagues like the PGA. All this attention will make it that much easier to
ramp up its more lucrative online sportsbook operations as regulations
on gambling continue to loosen up in the months and years ahead.
Amid the ongoing public health crisis, state budgets are getting worse,
and as a result, new states are considering passing legislation to allow
online sports betting and iGaming. This could benefit Draftkings consid-
erably as data shows that once sports gambling is legalized in a particu-
lar area, revenue growth ramps up very quickly. By fall of this year
DraftKings' sportsbooks will be operational for ~35% of the U.S. popula-
tion versus just ~14% in 2020. Therefore, near-term revenue multiples
are less meaningful as the potential revenue explosion for Draftkings is
massive as more of the U.S. opens up.
Pent-up demand for sports gambling, new tide towards legalization and
direct partnerships with the biggest names in sports can carry DraftKings
to a scale far beyond its current situation.
Price Chart
x
x
Last price on 20th
Jan

$64.4
52 week low $3.5
52 week high $65.1
Shares outstanding
(million) 88.70
Beta 1.6
Forward EV to Sales
Estimated
Revenue Growth %
16.3
101%
Digital Turbine
Security name
Analyst rating
Buy
4
Hold
2
Sell
0
Digital turbine Inc
Digital Turbine holds a unique place in the mobile phone ecosystem as it
is the only company embedded into the Android operating system to
allow for app downloading. The company sits between major carriers,
such as AT&T and Verizon, and companies, such as Netflix and Amazon,
that want their apps pre-installed on Android phones. With 6,000 apps
being added per day to the Android platform, demand for the limited
number of app slots has only increased. Moreover, given the increase in
time spent on mobile phone, both the number of devices and revenue
per device continue to improve for Digital Turbine.
Additionally, the recent integration of Mobile Posse which has brought
T-Mobile users and greater scale to the platform is a big positive for the
company
Mobile Posse provides media & advertising solutions for operator & OEM
partners while delivering richer, more relevant content to end users. This
is a content business that generates substantial recurring revenue over
the life of the phone and is not as tied to activations/new phone sales as
the historical app install business is.
The company is positioned to benefit in the long run as Mobile Posse’s
recurring revenue nature is attractive, and the envisioned cross selling
synergies with will be a strong growth driver.
Digital Turbine has had a fabulous run, yet there is a lot more gas in its
tank. With the stock down 20% from the high, adding some position now
could pay off in the long run as traditional ad spend transition towards
the more data-driven solutions that this companies offers.
Price Chart
x
x
Last price on 20th
Jan

Security name Toyota Motor Corp ADR
Buy
2
Hold
1
Sell
0
Analyst rating
Toyota Motor Corp- ADR
Electric vehicle (EV) stocks have already had a stupendous run last year.
In fact, exclusive EV players mostly outperformed internal combustion
engine (ICE) companies. This is primarily because worldwide, there is
tremendous pressure on auto manufacturers to trim CO2 emission.
Moreover, Biden’s $2 trillion clean energy plan also lifted the energy
sector in the US and is forecasted to have a ripple effect worldwide. To
put things into perspective, EV sales across the globe are projected to
grow 50% or more in 2021, compared to ICE’s expected sales growth of
a meager 2% to 5%. EV penetration globally has also been projected at
4%, increasing to 31% by 2030. To match the evolving momentum of the
sector, ICE car manufacturers are revamping and redesigning their
upcoming lineup to create a competitive prototype for an electric model.
Toyota has hopped on the bandwagon of electric automobiles and is
prepared to launch its first electric vehicle by the fourth quarter of 2021.
The company intends to globally sell 5.5 million electric vehicles every
year by 2025, this news has signaled a positive outlook and should
increase price momentum along with supporting growing dividends that
are currently at a 5-year CAGR of 2.91%.
The Japanese automobile company has broadcasted that the electric
car set to launch later this year, will introduce the first of its kind solid
prototype battery which is less prone to fire hazards in comparison to
the Lithium-ion batteries that are currently being used in electric cars.
With tech safer than Lithium-ion batteries, fraction amount of charging
time and double the output of a conventional battery, the performance
of Toyota Motor Corp. is expected to be extraordinary
$150.0
52 week low $108.0
52 week high $156.3
Shares outstanding
(million) 1631.50
Beta 0.7
Forward EV to Sales
Estimated
Revenue Growth %
1.5
11%
Price Chart
x
x
Last price on 20th
Jan

Security name Zoominfo Technologies Inc
Buy
13
Hold
4
Sell
0
Analyst rating
$47.0
52 week low $30.8
52 week high $64.4
Shares outstanding
(million) 81.74
Forward EV to Sales x
x
Estimated
Revenue Growth %
31.8
29%
ZoomInfo Technologies
ZoomInfo is the number one cloud-based go-to-market intelligence
platform that puts sales and marketing professionals in position to
identify, connect, and engage with qualified prospects.
The company utilizes a team of research analysts, data scientists,
artificial intelligence, and machine learning techniques to add to and
enhance its database of 14M companies and 120M professionals.
ZoomInfo guarantees the accuracy of its database, and its quality of the
data is evidenced by the data that 40% of customers and 80% of
enterprises who churn return within one year.
The company reported a strong Q3 beat, with revenue growth accelerat-
ing to 55% Y/Y (versus 18% in Q2, but was closer to ~30% on an adjusted
basis). Multiple factors including new product cycles, along with focus on
enterprise and international traction should continue to drive the growth
for the company. The company has started selling a new sales engage-
ment tool, called Engage, which has the potential to drive 20-30% price
uplift per seat.
COVID-19 has elevated the focus on digital go-to-market and lead
generation, perhaps amplifying the trend which was already developing
nicely for ZoomInfo. With companies getting a taste for higher-quality
data and better tools to attract customers, its highly unlikely they would
go back to a more laborious, less-effective process even in a covid-free
world. ZoomInfo’s differentiated and sticky technology, rapid revenue
growth, a large TAM, and a strong financial profile make it a unique
asset among software companies.
Price Chart
Last price on 20th
Jan

Security name eHealth Inc
Buy
11
Hold
2
Sell
0
Analyst rating
$77.9
52 week low $60.4
52 week high $152.2
Shares outstanding
(million) 25.90
Beta 1.1
Forward EV to Sales
Estimated
Revenue Growth %
2.2
28%
eHealth Inc
The Medicare segment has grown considerably over the past couple of
years, and the market for long term health care software will continue to
grow at an increasing pace due to shortage of medical staff, changes in
healthcare infrastructure and tech-based solutions in the sector.
Moreover, with Joe Biden set to take over the presidency reign and
reinforce the affordable care act (ACA) that was suppressed by Donald
Trump, the United States of America may experience a renewed
importance for private health insurance shopping. Additionally, the
COVID accelerated transition from in-person interactions to soft linkages
will further boost revenue growth of online health care platforms and
portals.
eHealth Inc (EHTH) is a private online platform that provides insurances
for various group of end consumers: individuals, families and small
businesses. The forum does not only act as an interface between
insurance firms and customers but also enables individuals to research,
compare and make and educated insurance purchase. The firm has
benefitted during the slump of lockdown and the estimated earnings
growth for 2020 is expected to be 1,444%, which is exponentially higher
than the firm’s average 5-year growth rate of 63.8%.
The firm is currently growing its marketing and tele sales capacity to
further drive growth and expects an increase of 38% in online insurance
applications in Q42020 in comparison to the last quarter. EHTH’s
expected revenue for 2020 is between $630 million to $670 million in
comparison to $506 million the previous year. Moreover, improvement
in the loan to value ratio of the firm will enhance profitability further.
With favorable political policies in 2021, and excessive incline towards
soft interactions, EHTH has upside potential and encouraging returns.
Price Chart
x
x
Last price on 20th
Jan

$45.6
52 week low $11.8
52 week high $53.6
Shares outstanding
(million) 48.03
Beta 0.5
Forward EV to Sales
Estimated
Revenue Growth %
12.67
25%
Security name Azure Power Global
Buy
5
Hold
1
Sell
0
Analyst rating
Azure Power Global
Biden’s campaign to inject $2 trillion to the clean energy sector has lifted
the energy sector in the US and is forecasted to have a ripple effect
worldwide. India’s solar energy sector is forecasted to expand at >20%
CAGR, 2020-25, signaling a long-awaited interest in the niche unexploit-
ed market, especially for a developing country. This overturn is expected
to generate a net positive return and may lead to an influx for asset
buyers down the road.
Azure Power Global, a leading solar power producer in India with a
portfolio of over 7GWs of solar power assets is also the first Indian
energy asset to be listed on the NYSE as Azure Power. With in-house
engineering, acquirement and construction expertise, Azure manages to
provide a solar power to different stretches of the country.
The upward trends in earnings are the core reason for the firm to be fit
for a growth portfolio. Empirical research showcases a valid correlation
between shifts in earnings estimate revisions and near-term stock price
movements. For the year ending in March 2021, the firm forecasted an
EPS of -$0.14, which indicates a YOY increase of 70.2%.
Furthermore, shares of Azure Power have risen over 300% compared to
Q42019, whereas SPX has only moved by 17.15% over the same time
span. With a new management in place, the firm is experiencing a
prolonged price recovery as the busines model gets fine-tuned and the
approach to increasing growth achieves clarity. Momentum in earnings
and share price, integrated with the oversight of a strong management
in place, make Azure a fundamentally backed growth stock.
Price Chart
x
x
Last price on 20th
Jan

$5.6
52 week low $3.6
52 week high $5.8
Shares outstanding
(million) 3233.56
Beta 0.8
Forward EV to Sales
Estimated
Revenue Growth %
26.59
17%
Security name Nomura Holdings Inc (ADR)
Buy
3
Hold
7
Sell
1
Analyst rating
Nomura Holdings
Nomura Holdings, Inc. is a Japan-based company mainly engaged in the
securities, investment, and financial business to individuals, corpora-
tions, and governments across the world. It operates through the
following segments: Retail, Asset Management, Wholesale, and
Merchant Banking.
Recent quarter pretax income for the wholesale segment, which serves
corporations and institutional investors, came out at 65.5 billion yen,
compared to 18.9-billion-yen last year. While the retail division posted a
22.8-billion-yen net profit for the three months, compared with 5.3 billion
yen a year ago.
Going forward profitability is expected to improve as the company plans
to cut costs by about 140 billion yen by March 2022. Recently Nomura,
posted its strongest Q-o-Q, profit in more than 17 years, lifted by the
stake sale in its affiliate Nomura Research Institute with a one-off profit of
73.3 billion yen.
The earnings growth for Nomura holdings in 2020 is estimated to be
129%, exceeding the negative 5-year average growth rate by 134.5%.
Corporate demands for capital raising and business restructuring could
provide opportunities for its investment banking unit over the time span
of 2021.
Price Chart
x
x
Last price on 20th
Jan

Security name
Clover Health
Investments Corp
Buy
1
Hold
0
Sell
0
Analyst rating
$13.7
52 week low $9.9
52 week high $17.5
Shares outstanding
(million) 440.70
Clover Health MA Membership/Covered Lives are
growing fast
2019A: 41,143
2021E: 273,000
2023E: 589,000
Clover Health Revenues are growing fast
2019A: $462M
2021E: $880M
2023E: $1,723M
Enterprise Value of $3,702B
4.2x 2021E Revenues
2.1x 2023E Revenues
Clover Health Corporation
Clover health investment corporation is a Preferred Provider Organiza-
tion (PPO) and a Health Maintenance Organization (HMO) with a
Medicare contract. Medicare Advantage plans have all the essentials like
hospital coverage, doctor visits, and drug coverage including no-cost
extras.
CLOV went public via a merger with Social Capital Hedosophia Holdings
Corp. III, a special purpose acquisition company (SPAC). The deal values
Clover at $3.7 billion and includes up to $1.2 billion in cash proceeds,
$400 million of which is coming through private investment in the public
entity. The company has a positive outlook with a unique model in health
insurance.
Palihapitiya, a former Facebook executive, has used blank-check firms to
acquire several firms previously. The 1st SPAC, Social Capital Hedoso-
phia, merged with Virgin Galactic (SPCE) in 2019; 2nd, Social Capital
Hedosophia II (IPOB), leaned into a merger with Opendoor the same
year. A recent one was, Social Capital Hedosophia Holdings V joined
forces with SoFi in an $8.65 billion deal. The major upside of
blank-check firms is that there is certainty on the amount being raised
and the investor.
Chamath Palihapitiya with a successful track record of special purpose
acquisition deals makes the success of the merger more likely. SPACs
have experienced explosive growth this year amid unprecedented
volatility brought on by the coronavirus pandemic. Total proceeds from
SPACs have exceeded $40 billion this year, nearly tripling the levels
from a year ago.
CLOV currently has 57,000 members across seven states in the US, the
deal will provide significant capital for the company to scale and improve
health outcomes for seniors across the United States. The healthcare
industry is expanding in demographics and growing quickly while over
the coming years clover can substantially increase its market share.
Price Chart
Last price on 20th
Jan

Buy
3
Hold
15
Sell
2
Analyst rating
Yelp
The global shutdown of dining at restaurants in March 2020, heavily
impacted the online recommendation service. Yelp’s advertisement
revenues took a major hit and the firm lost almost $24 million in the
second quarter of 2020 as revenues dropped by 32% from the prior
year. However, as economies opened, ad revenues doubled in the third
quarter and Yelp’s business rebounded.
Ever since, the online review platform has been initiating changes in its
business model by increasing the home and local services segment by
incorporating plumber, gardener and electrician reviews.
Last year to support the protest for George Floyd, the business also
added warnings on overly racist businesses in every vicinity.
Additionally, in 2020, Yelp also introduced a new feature to report
COVID health code violations for restaurants. These include reports on
social distancing, availability of contactless menus, employees wearing
masks and warnings on violations made.
If the changes introduced continue to pay off, the share price may cross
its 52-week high. The firm aims to reduce restaurant reviews to only a
tenth of its business revenues.
Yelp currently undervalued and is trading at only twice its estimated
forward sales. With over $600 million in cash and a market cap of $2
billion, the firm has intentions of buyback stocks in 2021.
Security name Yelp Inc
$32.0
52 week low $12.9
52 week high $36.9
Shares outstanding
(million) 74.00
Beta 1.4
Forward EV to Sales
Estimated
Revenue Growth %
1.95
13%
Price Chart
x
x
Last price on 20th
Jan

Disclaimer: Century Financial Consultancy LLC ("CFC") is Limited Liability Company incorporated under the Laws of UAE and is duly licensed and regulated by the Emirates Securities and
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investment or financial product. CFC does not guarantee as to adequacy, accuracy, completeness or reliability of any information or data contained herein and under no circumstances
whatsoever none of such information or data be construed as an advice or trading strategy or recommendation to deal (Buy/Sell) in any investment or financial product. CFC is not responsible
or liable for any result, gain or loss, based on this information, in whole or in part. Please carefully read full disclosure mentioned below.
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
information or data in a study or simulation that would not have been known or
available during the period being analyzed. This can lead to inaccurate results
in the study or simulation.
 Future price movements may not be exactly the same as the historical price
movements and this could lead to variation in performance.
 Testing can sometimes lead to over-optimization. This is a condition where
performance results are tuned so high to the past they are no longer as
accurate in the future.

between the expected price of a trade and the price at which the trade is
actually executed.
 Drawdowns in actual trading can be higher than the tested system and losses
could be significant in the event of leverage.
 Unforeseen events can lead to variation in performance from the tested trading
strategy.
 The tested result has been computed with price feeds available from
Bloomberg.
 The testing environment has not considered transaction or any other costs.
 Trading indicators used for the purpose of testing has been provided by
Bloomberg.

Risks & Assumptions

Century Financial
Level 6, Building 4,
Emaar Square,
Downtown, Dubai
P.O. Box 65777,
Dubai, United Arab Emirates
Phone: +971 (4) 356 2800
Fax: +971 (4) 355 4630
Email: info@century.ae
www.century.ae
Compiled by:
ARUN LESLIE - Chief Market Analyst
DEEPA SACHANANDANI - Senior Research Analyst
Data Source: Bloomberg
Date: 21th Jan, 2021

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