- There are a handful of technology stocks that are poised to directly benefit from consumers staying home amid the coronavirus pandemic, a team of analysts at Piper Sandler wrote in a Monday note.
- The stocks comprise technology, food, and staples companies that could see a bump in use as US consumers practice social distancing, according to the firm.
- Here are the 9 top “social-distancing” stocks, according to Piper Sandler.
- Read more on Business Insider.
Amid the coronavirus pandemic, US citizens have all been instructed to socially distance themselves from others in an attempt to slow the spread of the virus.
That’s meant school closures, work from home, canceled flights, and delivery-only restaurants in some cities across the country. While markets have been reeling as investors panic at the economic effects of such actions, there are a few stocks that are poised to benefit, Piper Sandler said.
“We are all in uncharted territory as this rolling global health crisis is uprooting how we all go about our days, our work flow & our social interactions,” a team of analysts led by Erinn Murphy wrote in a note released Monday.
Still, there is a handful of stocks spanning the technology sector that “stand to benefit in the short-run as mounting travel restrictions and work from home mandates change behavioral and cultural shifts in how we communicate and consume content,” the note said.
Piper Sandler sees two major technology groups benefiting from social distancing — consumer and enterprise companies. As people are stuck at home during work, there’s likely to be increased use of things like video conferencing, messaging, cybersecurity, and document signing platforms.
In addition, as people aren’t able to socialize in person or go out, Piper Sandler sees increased use of digital gaming and online video companies.
Also included? Stores where consumers can get staples such as hand sanitizer and toilet paper, as well as food brands that make popular non-perishable items such as soup.
Here are nine stocks that Piper Sandler says will be directly impacted by social distancing, in alphabetical order.
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