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Jan. 2, 2021, 8:22 a.m. EST

15 stock-market winners that index-fund investors missed out on in 2020

These stocks aren’t in the S&P 500 or the Nasdaq-100

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By Philip van Doorn, MarketWatch


Bloomberg
Vehicles sit inside the Carvana car-vending machine in Frisco, Texas. The company’s shares rose 160% during 2020.

(Updates story with year-end closing prices and consensus price targets.)

The COVID-19 economy has been brutal for millions of people who have been directly affected, through illness and loss of family members and friends, but also though lost jobs, destroyed businesses and disrupted careers. The stock market has been a different story: Unprecedented stimulus efforts of the federal government and Federal Reserve have sent it soaring.

Some of the best-known stock-market winners of 2020 are companies with innovative technology and services that businesses and consumers have relied on for remote access. Yet many aren’t yet included in the S&P 500 Index /zigman2/quotes/210599714/realtime SPX +0.15% , the part of the market tracked by most of the money invested in low-cost index funds, including the SPDR S&P 500 ETF /zigman2/quotes/209901640/composite SPY +0.16% . Others, while part of the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.03% , aren’t yet included in the Nasdaq-100 Index /zigman2/quotes/210598364/realtime NDX +0.09% , which is tracked by the Invesco QQQ Trust ETF /zigman2/quotes/208575548/composite QQQ +0.09%  

SPY rose 16% in 2020, while QQQ surged an incredible 48%.

This list doesn’t include Tesla Inc. /zigman2/quotes/203558040/composite TSLA +2.75% , which was added to the S&P 500 on Dec. 21; the electric car maker’s shares had soared 731% by then.

Click here for more about Tesla and lists of the best-performing stocks of 2020 from among the S&P 500, Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.10%  and Nasdaq-100 Index /zigman2/quotes/210598364/realtime NDX +0.09% .

Here are 15 stocks that soared during 2020 but aren’t included in the broad S&P indexes or the Nasdaq-100:

Company Ticker  Industry  Price change - 2020 Market capitalization ($ millions)
 Cloudflare Inc. Class A  /zigman2/quotes/214109260/composite NET    Information Technology Services  345% $18,135
 Zscaler Inc.  /zigman2/quotes/203585803/composite ZS    Software  329% $27,014
 CrowdStrike Holdings Inc. Class A  /zigman2/quotes/212513426/composite CRWD    Software  325% $39,593
 Pinterest Inc. Class A  /zigman2/quotes/211319641/composite PINS    Internet Software/Services  254% $34,299
 Square Inc. Class A  /zigman2/quotes/205989440/composite SQ    Information Technology Services  248% $84,836
 Twilio Inc. Class A  /zigman2/quotes/205796518/composite TWLO    Software  244% $49,030
 Trade Desk Inc. Class A  /zigman2/quotes/207508089/composite TTD    Advertising/Marketing Services  208% $34,314
 Zillow Group Inc. Class C  /zigman2/quotes/204413973/composite Z    Information Technology Services  183% $21,640
 Carvana Co. Class A  /zigman2/quotes/206651606/composite CVNA    Specialty Stores  160% $17,669
 Wayfair Inc. Class A  /zigman2/quotes/201071690/composite W    Internet Retail  150% $16,795
 Roku Inc. Class A  /zigman2/quotes/205087179/composite ROKU    Electronics/Appliances  148% $36,918
 Teladoc Health Inc.  /zigman2/quotes/207420252/composite TDOC    Hospital/Nursing Management  139% $29,510
 RingCentral Inc. Class A  /zigman2/quotes/204236620/composite RNG    Software  125% $30,782
 Spotify Technology SA  /zigman2/quotes/207488629/composite SPOT    Internet Software/Services  110% $59,731
 Veeva Systems Inc. Class A  /zigman2/quotes/202850210/composite VEEV    Software  94% $37,647
Source: FactSet

Scroll the table to see all the data.

You can click on the tickers for more about each company, including profiles, news coverage, price ratios and charts.

Here’s a summary of Wall Street analysts’ opinions about these stocks after such remarkable gains:

Company Ticker Share 'buy' ratings Share neutral ratings Share 'sell' ratings Closing price - Dec. 31 Consensus price target Implied 12-month upside  potential
 Cloudflare Inc. Class A  /zigman2/quotes/214109260/composite NET   81% 19% 0% $75.99 $72.60 -4%
 Zscaler Inc.  /zigman2/quotes/203585803/composite ZS   52% 44% 4% $199.71 $187.55 -6%
 CrowdStrike Holdings Inc. Class A  /zigman2/quotes/212513426/composite CRWD   75% 20% 5% $211.82 $189.84 -10%
 Pinterest Inc. Class A  /zigman2/quotes/211319641/composite PINS   64% 32% 4% $65.90 $69.46 5%
 Square Inc. Class A  /zigman2/quotes/205989440/composite SQ   57% 34% 9% $217.64 $217.66 0%
 Twilio Inc. Class A  /zigman2/quotes/205796518/composite TWLO   78% 15% 7% $338.50 $366.70 8%
 Trade Desk Inc. Class A  /zigman2/quotes/207508089/composite TTD   42% 53% 5% $801.00 $751.44 -6%
 Zillow Group Inc. Class C  /zigman2/quotes/204413973/composite Z   48% 39% 13% $129.80 $130.20 0%
 Carvana Co. Class A  /zigman2/quotes/206651606/composite CVNA   62% 38% 0% $239.54 $241.95 1%
 Wayfair Inc. Class A  /zigman2/quotes/201071690/composite W   45% 39% 16% $225.81 $304.08 35%
 Roku Inc. Class A  /zigman2/quotes/205087179/composite ROKU   59% 33% 8% $332.02 $275.67 -17%
 Teladoc Health Inc.  /zigman2/quotes/207420252/composite TDOC   60% 40% 0% $199.96 $242.78 21%
 RingCentral Inc. Class A  /zigman2/quotes/204236620/composite RNG   96% 0% 4% $378.97 $364.13 -4%
 Spotify Technology SA  /zigman2/quotes/207488629/composite SPOT   47% 33% 20% $314.66 $288.57 -8%
 Veeva Systems Inc. Class A  /zigman2/quotes/202850210/composite VEEV   65% 26% 9% $272.25 $308.43 13%

Analysts have majority “buy” or equivalent ratings on 11 of these 15 stocks; however, most of the stock have gotten ahead of the consensus price targets. These price targets are usually for 12 months, so it is clear the analysts are confident for many as longer-term plays, despite valuations that appear lofty for the short term.

Don’t miss: 20 of analysts’ favorite large-cap stocks for 2021, including GM, Facebook and Salesforce

/zigman2/quotes/210599714/realtime
US : S&P US
4,455.48
+6.50 +0.15%
Volume: 1.69B
Sept. 24, 2021 5:05p
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/zigman2/quotes/209901640/composite
US : U.S.: NYSE Arca
$ 443.91
+0.73 +0.16%
Volume: 62.09M
Sept. 24, 2021 4:00p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
15,047.70
-4.54 -0.03%
Volume: 3.61M
Sept. 24, 2021 5:16p
loading...
/zigman2/quotes/210598364/realtime
US : U.S.: Nasdaq
15,329.68
+13.10 +0.09%
Volume: 419,225
Sept. 24, 2021 5:16p
loading...
/zigman2/quotes/208575548/composite
US : U.S.: Nasdaq
$ 373.33
+0.35 +0.09%
Volume: 36.06M
Sept. 24, 2021 4:00p
loading...
/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 774.39
+20.75 +2.75%
Volume: 21.37M
Sept. 24, 2021 4:00p
P/E Ratio
403.52
Dividend Yield
N/A
Market Cap
$766.66 billion
Rev. per Employee
$445,694
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,798.00
+33.18 +0.10%
Volume: 256.58M
Sept. 24, 2021 5:05p
loading...
/zigman2/quotes/210598364/realtime
US : U.S.: Nasdaq
15,329.68
+13.10 +0.09%
Volume: 419,225
Sept. 24, 2021 5:16p
loading...
/zigman2/quotes/214109260/composite
US : U.S.: NYSE
$ 130.36
-5.31 -3.91%
Volume: 3.90M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$40.73 billion
Rev. per Employee
$241,084
loading...
/zigman2/quotes/203585803/composite
US : U.S.: Nasdaq
$ 279.99
-0.03 -0.01%
Volume: 1.13M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$38.84 billion
Rev. per Employee
$213,479
loading...
/zigman2/quotes/212513426/composite
US : U.S.: Nasdaq
$ 261.75
-0.54 -0.21%
Volume: 2.04M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$59.74 billion
Rev. per Employee
$257,642
loading...
/zigman2/quotes/211319641/composite
US : U.S.: NYSE
$ 54.20
+0.18 +0.33%
Volume: 5.26M
Sept. 24, 2021 4:01p
P/E Ratio
256.63
Dividend Yield
N/A
Market Cap
$34.94 billion
Rev. per Employee
$665,092
loading...
/zigman2/quotes/205989440/composite
US : U.S.: NYSE
$ 262.50
-4.22 -1.58%
Volume: 6.96M
Sept. 24, 2021 4:00p
P/E Ratio
232.65
Dividend Yield
N/A
Market Cap
$120.82 billion
Rev. per Employee
$1.73M
loading...
/zigman2/quotes/205796518/composite
US : U.S.: NYSE
$ 343.21
-5.78 -1.66%
Volume: 1.21M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$60.80 billion
Rev. per Employee
$841,747
loading...
/zigman2/quotes/207508089/composite
US : U.S.: Nasdaq
$ 76.46
+0.06 +0.08%
Volume: 2.25M
Sept. 24, 2021 4:00p
P/E Ratio
81.36
Dividend Yield
N/A
Market Cap
$36.60 billion
Rev. per Employee
$541,122
loading...
/zigman2/quotes/204413973/composite
US : U.S.: Nasdaq
$ 90.41
-3.82 -4.05%
Volume: 4.95M
Sept. 24, 2021 4:00p
P/E Ratio
152.80
Dividend Yield
N/A
Market Cap
$22.96 billion
Rev. per Employee
$606,798
loading...
/zigman2/quotes/206651606/composite
US : U.S.: NYSE
$ 321.99
+2.74 +0.86%
Volume: 595,883
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$55.57 billion
Rev. per Employee
$537,170
loading...
/zigman2/quotes/201071690/composite
US : U.S.: NYSE
$ 274.59
-0.41 -0.15%
Volume: 960,119
Sept. 24, 2021 4:00p
P/E Ratio
88.22
Dividend Yield
N/A
Market Cap
$28.53 billion
Rev. per Employee
$877,382
loading...
/zigman2/quotes/205087179/composite
US : U.S.: Nasdaq
$ 321.89
-12.63 -3.78%
Volume: 3.63M
Sept. 24, 2021 4:00p
P/E Ratio
196.23
Dividend Yield
N/A
Market Cap
$42.96 billion
Rev. per Employee
$923,838
loading...
/zigman2/quotes/207420252/composite
US : U.S.: NYSE
$ 134.90
-3.90 -2.81%
Volume: 2.66M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$21.48 billion
Rev. per Employee
$248,628
loading...
/zigman2/quotes/204236620/composite
US : U.S.: NYSE
$ 222.13
-1.12 -0.50%
Volume: 1.05M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$20.33 billion
Rev. per Employee
$376,961
loading...
/zigman2/quotes/207488629/composite
US : U.S.: NYSE
$ 230.20
-4.66 -1.98%
Volume: 1.10M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$43.17 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202850210/composite
US : U.S.: NYSE
$ 299.93
+1.23 +0.41%
Volume: 410,495
Sept. 24, 2021 4:00p
P/E Ratio
114.65
Dividend Yield
N/A
Market Cap
$46.02 billion
Rev. per Employee
$325,137
loading...
/zigman2/quotes/214109260/composite
US : U.S.: NYSE
$ 130.36
-5.31 -3.91%
Volume: 3.90M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$40.73 billion
Rev. per Employee
$241,084
loading...
/zigman2/quotes/203585803/composite
US : U.S.: Nasdaq
$ 279.99
-0.03 -0.01%
Volume: 1.13M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$38.84 billion
Rev. per Employee
$213,479
loading...
/zigman2/quotes/212513426/composite
US : U.S.: Nasdaq
$ 261.75
-0.54 -0.21%
Volume: 2.04M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$59.74 billion
Rev. per Employee
$257,642
loading...
/zigman2/quotes/211319641/composite
US : U.S.: NYSE
$ 54.20
+0.18 +0.33%
Volume: 5.26M
Sept. 24, 2021 4:01p
P/E Ratio
256.63
Dividend Yield
N/A
Market Cap
$34.94 billion
Rev. per Employee
$665,092
loading...
/zigman2/quotes/205989440/composite
US : U.S.: NYSE
$ 262.50
-4.22 -1.58%
Volume: 6.96M
Sept. 24, 2021 4:00p
P/E Ratio
232.65
Dividend Yield
N/A
Market Cap
$120.82 billion
Rev. per Employee
$1.73M
loading...
/zigman2/quotes/205796518/composite
US : U.S.: NYSE
$ 343.21
-5.78 -1.66%
Volume: 1.21M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$60.80 billion
Rev. per Employee
$841,747
loading...
/zigman2/quotes/207508089/composite
US : U.S.: Nasdaq
$ 76.46
+0.06 +0.08%
Volume: 2.25M
Sept. 24, 2021 4:00p
P/E Ratio
81.36
Dividend Yield
N/A
Market Cap
$36.60 billion
Rev. per Employee
$541,122
loading...
/zigman2/quotes/204413973/composite
US : U.S.: Nasdaq
$ 90.41
-3.82 -4.05%
Volume: 4.95M
Sept. 24, 2021 4:00p
P/E Ratio
152.80
Dividend Yield
N/A
Market Cap
$22.96 billion
Rev. per Employee
$606,798
loading...
/zigman2/quotes/206651606/composite
US : U.S.: NYSE
$ 321.99
+2.74 +0.86%
Volume: 595,883
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$55.57 billion
Rev. per Employee
$537,170
loading...
/zigman2/quotes/201071690/composite
US : U.S.: NYSE
$ 274.59
-0.41 -0.15%
Volume: 960,119
Sept. 24, 2021 4:00p
P/E Ratio
88.22
Dividend Yield
N/A
Market Cap
$28.53 billion
Rev. per Employee
$877,382
loading...
/zigman2/quotes/205087179/composite
US : U.S.: Nasdaq
$ 321.89
-12.63 -3.78%
Volume: 3.63M
Sept. 24, 2021 4:00p
P/E Ratio
196.23
Dividend Yield
N/A
Market Cap
$42.96 billion
Rev. per Employee
$923,838
loading...
/zigman2/quotes/207420252/composite
US : U.S.: NYSE
$ 134.90
-3.90 -2.81%
Volume: 2.66M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$21.48 billion
Rev. per Employee
$248,628
loading...
/zigman2/quotes/204236620/composite
US : U.S.: NYSE
$ 222.13
-1.12 -0.50%
Volume: 1.05M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$20.33 billion
Rev. per Employee
$376,961
loading...
/zigman2/quotes/207488629/composite
US : U.S.: NYSE
$ 230.20
-4.66 -1.98%
Volume: 1.10M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$43.17 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202850210/composite
US : U.S.: NYSE
$ 299.93
+1.23 +0.41%
Volume: 410,495
Sept. 24, 2021 4:00p
P/E Ratio
114.65
Dividend Yield
N/A
Market Cap
$46.02 billion
Rev. per Employee
$325,137
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Philip van Doorn writes the "Deep Dive" investing column for MarketWatch. Follow him on Twitter @PhilipvanDoorn.

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