Top Three Stocks To Watch This Week: SpaceX, Accenture, Kroger

The stock market will have some major catalysts this week, including details on a US-Iran peace agreement, the Federal Reserve’s next interest rate decision, and some earnings reports. This article explores some of the top stocks to watch this week, including SpaceX (NASDAQ:SPCX), Accenture (NYSE:ACN), and Kroger (NYSE:KR).

SpaceX In Focus After Its IPO

SpaceX stock will be in the spotlight this week, following its IPO on Friday in which it raised $75 billion at a $1.78 trillion valuation. It then jumped by 19%, with its valuation soaring to over $2.1 trillion and Elon Musk becoming the world's first trillionaire. 

This week could see the stock continue rising as investors continue to bet on its large total addressable market and its presence in key industries like launch and artificial intelligence. 

However, as other recent IPOs have performed, there is a risk that the stock will start falling as the post-listing momentum fades. 

Accenture in the Spotlight as Earnings Come As Stock Struggles

Accenture, one of the world's biggest IT consulting companies, has come under pressure this year. Its stock was trading at $170, down by over 57% from its highest point in February last year. It has never recovered since the Trump administration announced large cuts in consulting. 

The company will publish its financial results this week, which are expected to show that its revenue rose by 5.80% in the last quarter to $18.7 billion. These numbers come at a time when its stock has become a bargain, with the forward PE ratio falling to 12.2, lower than the five-year average of 25.

Kroger Earnings to Provide Hints on Consumer Health

Kroger, a top supermarket chain, will also release its financial results this week. These numbers come at a time when the stock has moved into a correction after falling by 15% from its highest point this year.

Kroger, like Accenture, has also become a bargain, with the forward PE ratio falling to 12.34. In contrast, Walmart (NASDAQ:WMT), Target (NYSE:TGT), and Costco (NYSE:COST) trade at forward earnings multiples of 41, 17, and 47, respectively. 

Analysts predict that Kroger's revenue will come in at $45.49 billion, flat from the same period last year. Its earnings per share is expected to move to $1.59 from $1.49 in the same period last year. 

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