This Previously Down-on-Its-Luck Stock Has Been Quietly Outperforming the Market. Time to Buy?

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All of these elements have weighed on the benchmark and on many stocks.But some stocks have stood out as winners during this time of uncertainty. One in particular may surprise you as it's struggled in recent years. Revenue growth stalled, the company's sense of direction seemed unclear, and the stock performance reflected this -- it sank 38% over five years.Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »Today, though, this consumer goods player is not only delivering gains but may also be on the path to recovery and growth. Let's take a close look at this previously down-on-its-luck stock that's been quietly outperforming the market and consider whether it's a buy.Image source: Getty Images.The company that I'm referring to is Target (NYSE: TGT), a retailer that during early pandemic days saw revenue soar -- but in recent years has experienced a slowdown. Why the shift? During times of lockdowns and social distancing, Target's digital platform and variety of pickup and delivery options pleased consumers, helping the company grow revenue by $30 billion over a couple of years.TGT Revenue (Annual) data by YChartsTarget has kept those gains, as the chart above shows, but it's struggled to grow in recent years for a variety of reasons. Customers have complained about the service in stores or the lack of products on shelves. Target angered certain customers when it launched diversity, equity, and inclusion initiatives, then upset others when it rolled them back. These problems resulted in some customers boycotting the retailer. And Target also faced the challenge of theft in its stores in recent years.Meanwhile, the company has taken steps to turn things around, for example, cutting 1,800 corporate jobs last fall -- and now it may have reached a key turning point. Michael Fiddelke, previously Target's chief operating officer, took on the role of chief executive officer and recently laid out a plan to reignite growth.The new initiatives include revamping floor plans and displays in Target stores, investing in payroll and training to improve the shopper's experience, improving the assortment of items on shelves, and using AI to deliver a better and personalized shopping experience. To set this plan in motion, Target aims to invest $2 billion this year, with half going toward capital expenditures and the other half allocated to operating investments.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersBTC-USD Bitcoin USD 66,380.27 -2,391.01 (-3.48%)ARTL Artelo Biosciences, Inc. 10.54 +7.35 (+230.41%)FIG Figma, Inc. 20.19 -1.96 (-8.85%)AGX Argan, Inc. 566.62 +155.77 (+37.91%)SNPS Synopsys, Inc. 380.47 -21.48 (-5.34%)PortfolioSign in to access your portfolioSign inTop gainersAGX Argan, Inc. 566.62 +155.77 (+37.91%)U Unity Software Inc. 19.45 +2.32 (+13.54%)ADV Advantage Solutions Inc. 25.57 +2.99 (+13.27%)ADMA ADMA Biologics, Inc. 9.25 +0.96 (+11.58%)MEOH Methanex Corporation 65.22 +5.76 (+9.69%)Top losersFLY Firefly Aerospace Inc. 23.71 -3.11 (-11.58%)YOU Clear Secure, Inc. 47.44 -5.96 (-11.16%)ASTS AST SpaceMobile, Inc. 78.67 -9.19 (-10.46%)HNGE Hinge Health, Inc. 36.25 -3.93 (-9.78%)ZETA Zeta Global Holdings Corp. 14.55 -1.53 (-9.51%)Most activeNVDA NVIDIA Corporation 167.52 -3.72 (-2.17%)GRAB Grab Holdings Limited 3.5700 -0.1400 (-3.77%)TSLA Tesla, Inc. 361.83 -10.28 (-2.76%)INTC Intel Corporation 43.13 -0.97 (-2.20%)NU Nu Holdings Ltd. 13.60 -0.42 (-3.00%)Top economic eventsEarnings eventsMy earnings eventsEarnings events