Best- and Worst-Performing Stocks of Q3 2024

The Morningstar US Large-Mid Cap Index rose 5.9% in the third quarter, amid a rally in the utilities sector. The index tracks the performance of the top 90% of the US investable universe by market cap, and each quarter, we screen the index to find the best- and worst-performing stocks.

Data in this article is sourced from Morningstar Direct.

Best-Performing Stocks of Q3 2024

• Exact Sciences EXAS
• AppLovin APP
• Erie Indemnity ERIE
• Palantir Technologies PLTR
• TransUnion TRU

Worst-Performing Stocks of Q3 2024

• Super Micro Computer SMCI
• Celsius Holdings CELH
• Moderna MRNA
• DexCom DXCM
• Dollar General DG

Metrics for the Best-Performing Stocks

Exact Sciences

• Sector: Healthcare
• Industry: Diagnostics & Research
• Economic Moat: None

Exact Sciences rose 61.2% in the quarter, but shares are flat for the year, having fallen only 0.1%. Shares are 14.4% below their last high on April 2, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 13% discount to its fair value estimate of $78.

AppLovin

• Sector: Technology
• Industry: Software - Application
• Economic Moat: Not Rated

AppLovin jumped 56.9%, lifting shares 226.7% over the past year. The company’s stock has a quantitative Morningstar Rating of 3 stars.

Erie Insurance

• Sector: Financial Services
• Industry: Insurance Brokers
• Economic Moat: Not Rated

Erie Insurance rose 49.5%, having risen 86.4% from one year ago. The company’s stock has a quantitative Morningstar Rating of 1 star.

Palantir Technologies

• Sector: Technology
• Industry: Software - Infrastructure
• Economic Moat: Narrow

Palantir Technologies jumped 46.9%, bringing the stock up 132.5% from one year ago. The company’s stock has a Morningstar Rating of 1 star and is trading at a 96% premium to its fair value estimate of $19.

TransUnion

• Sector: Financial Services
• Industry: Financial Data & Stock Exchanges
• Economic Moat: Wide

TransUnion climbed 41.3%, bringing the stock up 46.7% over the past year. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 4% discount to its fair value estimate of $109.

Metrics for the Worst-Performing Stocks

Super Micro Computer

• Sector: Technology
• Industry: Computer Hardware
• Economic Moat: Not Rated

Super Micro Computer fell 49.2% in the quarter but was still up 51.8% from one year ago. Shares are 66.1% below their last high on March 8, 2024. The company’s stock has a quantitative Morningstar Rating of 4 stars.

Celsius Holdings

• Sector: Consumer Defensive
• Industry: Beverages - Non-Alcoholic
• Economic Moat: None

Celsius slid 45.1%, having fallen 45.2% from one year ago. Shares are 68.5% below their last high on March 14, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 13% discount to its fair value estimate of $36.

Moderna

• Sector: Healthcare
• Industry: Biotechnology
• Economic Moat: None

Moderna fell 43.7%, leaving the stock down 35.3% for the year. Shares are 60.8% below their last high on May 24, 2024. The company’s stock has a Morningstar Rating of 5 stars and is trading at a 53% discount to its fair value estimate of $141.

DexCom

• Sector: Healthcare
• Industry: Medical Devices
• Economic Moat: None

DexCom plunged 40.9%, leaving the stock down 28.1% for the year. Shares are 52.8% below their last high on March 26, 2024. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 29% discount to its fair value estimate of $94.

Dollar General

• Sector: Consumer Defensive
• Industry: Discount Stores
• Economic Moat: Narrow

Dollar General slid 35.7% and declined 18.6% over the past year. Shares are 49.7% below their last high on March 14, 2024. The company’s stock has a Morningstar Rating of 5 stars and is trading at a 35% discount to its fair value estimate of $130.

Companies that are not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.