Undervalued companies should be a cornerstone of any investment portfolio. They provide safety, especially if you choose a stock that turns out to be unprofitable due to minimized realized losses.
They also allow investors to buy into a company at a favorable rate, and if the company performs well over time, investors who prioritize valuation are highly profitable.
Here are a few stocks that fit the criteria of an undervalued stock using forward P/E and reported strong revenue growth for the first quarter of 2024.
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