Which stocks are always on investors’ wish lists? Growth stocks. Time and time again, the pros on the Street point to tickers with above-average growth prospects as must-haves, as they stand to deliver major rewards in the long run. We really aren’t joking when we say above-average. Stocks that fall into this category have already notched impressive gains year-to-date, but this is only the beginning. The wins could keep on coming through 2020 and beyond. Having a target in mind is one thing, but how exactly are investors supposed to track down these names? This is where TipRanks can come in handy. Using TipRanks’ database, we scanned the Street for analyst-approved stocks that have exhibited a stellar run-up in 2020, and are poised to climb higher in the year ahead. Here are all of the details. Stamps.com (STMP) Providing online mailing and shipping services, Stamps.com makes it easy for its customers to print U.S. Postal Service-approved postage. Even though shares have already jumped 215% year-to-date, some analysts think this name has more room to run. After a recent conversation with management, National Research’s Allen Klee has high hopes for STMP. The analyst tells clients his primary takeaway was “Stamps.com is positioned to benefit from accelerating ecommerce demand.” What’s more, he believes the deep functionality, integration, carrier relationships and processing speed of its products give it a leg up. When it comes to STMP’s revenue, 80% comes from shipping, which makes it “levered to positive ecommerce trends,” in Klee’s opinion. He noted, “We would expect shipping to increase as a percent of total revenue over time. In addition, the company will get international growth and potential market share gains, in our view.” Klee added, “The company has improved their growth outlook and lowered their risk profile through expanding their offerings and services, investing internationally and diversifying carrier relationships.” These investments are related to technology for MetaPack and ShipStation, two companies it acquired, and ShipEngines, its multi-carrier shipping platform. When the spending on these areas of the business moderates, the analyst thinks STMP’s already strong margins will get a boost. Along with the fact that STMP doesn’t have large exposure to any one sector, Klee argues its new partnership with UPS presents an exciting long-term opportunity. “As Stamps.com has eliminated its exclusivity with USPS, they are at various stages of negotiations with various carriers,” he mentioned. The company’s guidance for 2020 does assume a decline in 2H20 compared to the first half of the year, but this is related to how much of the spike in ecommerce demand witnessed in Q2 2020 is sustainable and the impact of the weak macro environment. That being said, Klee highlights new data on customer adds that is “of comparable quality” to past data. Additionally, according to the analyst, “positive data points come from FedEx’s August 2020 quarterly revenues being up 11% from the prior May 2020 quarter and Pitney Bowes on their Q2 2020 earnings call guiding for their global ecommerce segment revenues in Q3 2020 to be comparable to levels from Q2 2020.” The fourth quarter is also historically the strongest quarter for ecommerce given holiday sales. As for competition in the space, Amazon is turning into a major player. With the giant posing a threat to other carriers, Klee thinks STMP can help those that want to improve their offerings. Everything that STMP has going for it convinced Klee to leave his Buy rating as is. Along with the call, he keeps the price target at $390, suggesting 48% upside potential. (To watch Klee’s track record, click here) Looking at the consensus breakdown, 2 Buys and 1 Hold have been issued in the last three months. Therefore, STMP gets a Moderate Buy consensus rating. Based on the $336.67 average price target, shares could surge 28% in the next year. (See Stamps.com stock analysis on TipRanks) Farfetch (FTCH) On to another name that could benefit from accelerating ecommerce trends, Farfetch is an online luxury fashion retail platform that sells products from boutiques and brands from around the world. Up 157% year-to-date, several members of the Street believe this name is still heating up. Writing for J.P. Morgan, five-star analyst Doug Anmuth tells clients that amid broader weakness in the space, “Farfetch stands out as a more valuable and differentiated partner.” Expounding on this, Anmuth commented, “We believe Farfetch became an increasingly important partner to boutiques, brands, and other retail partners during the height of COVID-19 as many physical stores closed and even some online competitors were unable to ship from their distribution centers. For many partners, Farfetch was the only way they could generate sales during the pandemic.” As a result of this, boutiques, brands and department stores added more inventory to the Marketplace (MP), as well as increased reliance on Farfetch Platform Solutions (FPS). This is evidenced by its earnings results for Q2 2020. During the quarter, the acceleration of the secular shift fueled Digital Platform gross merchandise value (GMV) of $651 million, up 34% year-over-year and above the recently revised expectation of $605-$630 million. Additionally, FTCH saw record-high in-season stock levels, with 380,000 stock keeping units across 3,500 brands, from 1,300 sellers including 500 direct brand e-concessions. There was a 60% increase in traffic and a doubling of app installs in Q2, leading to the addition of 500,000 new customers. Anmuth also noted, “With direct brand e-concessions (EC) at 50%-plus of all inventory in the MP, the top 20 direct EC brands doubled their sales year-over-year.” Looking ahead, management expects Digital Platform GMV to ramp up to 40-45% growth in Q3, thanks to the early recovery in China, Western Europe and the Middle East, as well as a late Q2 pick-up in the U.S. On top of this, a number of key initiatives could propel the company forward, in Anmuth’s opinion. New Guards Group (NGG), which has been controversial among investors, drove $66 million in brand platform revenue and GMV, even though there were some delays in Fall-Winter shipments as retailers worked through Spring-Summer inventory. Off-White is cited as another point of strength, with the launch of Harrods also benefiting FTCH. To sum it all up, Anmuth said, “Overall, we recognize that FTCH benefited from a favorable environment with multi-year acceleration of luxury ecommerce adoption. But we expect trends to remain elevated as consumers increasingly value the ease and convenience of FTCH’s platform, and brands and boutiques add greater inventory. We think FTCH is better positioned than any time since its IPO having made significant strides in direct brand e-concessions and adding selection from NGG, while also showing greater cost discipline and commitment to EBITDA profit in 2021.” Based on all of the above, Anmuth stayed with the bulls, reiterating an Overweight rating and $40 price target. Investors could be pocketing a gain of 50%, should this target be met in the twelve months ahead. (To watch Anmuth’s track record, click here) Turning to the rest of the Street, the bulls have it on this one. With 8 Buys, 1 Hold and 1 Sell, the word on the Street is that FTCH is a Moderate Buy. At $31.70, the average price target implies 19% upside potential. (See Farfetch stock analysis on TipRanks) Chegg (CHGG) As an education technology company, Chegg provides digital and physical textbook rentals, online tutoring and other student services. This name has skyrocketed 114% in 2020, but there’s still plenty of fuel left in the tank, so says Wall Street. Among the fans is Craig-Hallum’s Alex Fuhrman, who remains confident after CHGG’s Q2 earnings release. He told clients, “Chegg has been firing on all cylinders in 2020, and yesterday’s big beat suggests that the company is rapidly scaling its international business as the shift to online and hybrid learning has accelerated adoption abroad as well as domestically.” In Q2, new subscriber growth ramped up dramatically as colleges around the country and the world made the switch to virtual learning. Excluding the acquisition of Mathway, Chegg’s membership base grew 58% year-over-year at the end of Q2, significantly ahead of management’s guidance of 45%. What was behind this strong showing? According to Fuhrman, increased international subscriptions contributed to the solid performance, and management believes that the long-term opportunity outside of the U.S. is even bigger than the domestic one. Going forward, Fuhrman points to the launch of the Chegg Study Pack bundle as a major possible catalyst. On top of this, an accelerated focus on reducing password sharing could have a “meaningful positive impact on results in 2H20 and especially in 2021.” Based on these catalysts, he argues that his estimates might be conservative and have the potential to move higher throughout 2020. It should also be noted that the peak fall rush season might not be fully accounted for in management’s guidance, in Fuhrman’s opinion. Therefore, the analyst sees “opportunities for Chegg to beat estimates in the back half of 2020 whether students are on campus or not.” He added, “Even if college enrollments drop significantly for the upcoming fall semester (a real possibility), we believe Chegg’s addressable market won’t materially change given the significant number of students who will likely still take at least a few classes at a local college or community college, whether online or in person.” All of this prompted Fuhrman to conclude, “The pandemic is rapidly accelerating Chegg’s growth, and increased international adoption could support elevated growth rates for years even in a post-pandemic world.” Taking the above into consideration, Fuhrman maintains a Buy rating and $105 price target. This target conveys his confidence in CHGG’s ability to climb 29% higher in the next year. (To watch Fuhrman’s track record, click here) Most other analysts echo Fuhrman’s sentiment. 10 Buys and 2 Holds add up to a Strong Buy consensus rating. Given the average price target of $95.25, the upside potential comes in at 17%. (See Chegg stock analysis on TipRanks) Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.