Best- and Worst-Performing Stocks of May 2024

The Morningstar US Large-Mid Cap Index rose 4.8% in May 2024 amid a rally in the utilities sector. The large-mid index tracks the performance of the top 90% of the US investable universe by market cap, and each month we screen from among the stocks in this index to find the best- and worst-performing companies. Data in this article is sourced from Morningstar Direct.

Best-Performing Stocks of May 2024

• First Solar FSLR
• Deckers Brands DECK
• Burlington Stores BURL
• Vistra Energy VST
• International Paper IP

Worst-Performing Stocks of May 2024

• MongoDB MDB
• Unity Software U
• EPAM Systems EPAM
• Exact Sciences EXAS
• Cloudflare NET

Metrics for the Best-Performing Stocks

First Solar

• Sector: Technology
• Industry: Solar
• Morningstar Economic Moat Rating: None

First Solar surged 54.1% in May, leaving the stock up 33.9% for the year. The company’s stock has a Morningstar Rating of 2 stars and is trading at a 47% premium to its fair value estimate of $185 per share.

Deckers Brands

• Sector: Consumer Cyclical
• Industry: Footwear and Accessories
• Morningstar Economic Moat Rating: Not Rated

Deckers Brands advanced 33.7%, leaving the stock up 130.3% for the year. The company’s stock has a Quantitative Morningstar Rating of 1 star.

Burlington Stores

• Sector: Consumer Cyclical
• Industry: Apparel Retail
• Morningstar Economic Moat Rating: Not Rated

Burlington Stores surged 33.4%, lifting shares 59.5% over the past year. The company’s stock has a Quantitative Morningstar Rating of 4 stars.

Vistra Energy

• Sector: Utilities
• Industry: Utilities—Independent Power Producers
• Morningstar Economic Moat Rating: None

Vistra Energy rallied 30.6%, having risen 323.1% from one year ago. The company’s stock has a Morningstar Rating of 1 star and is trading at a 130% premium to its fair value estimate of $43 per share.

International Paper

• Sector: Consumer Cyclical
• Industry: Packaging and Containers
• Morningstar Economic Moat Rating: None

International Paper rose 30.4%, bringing the stock up 61.1% over the past year. The company’s stock has a Morningstar Rating of 2 stars and is trading at a 13% premium to its fair value estimate of $40 per share.

Metrics for the Worst-Performing Stocks

MongoDB

• Sector: Technology
• Industry: Software—Infrastructure
• Morningstar Economic Moat Rating: None

MongoDB tumbled 35.4% in May, leaving the stock down 19.7% for the year. Shares are 53.7% below their last high on Feb. 12, 2024. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 28% discount to its fair value estimate of $330 per share.

Unity Software

• Sector: Technology
• Industry: Software—Application
• Morningstar Economic Moat Rating: Not Rated

Unity Software fell 24.7% during the month and declined 38.5% over the past year. Shares are 63.5% below their last high on July 19, 2023. The company’s stock has a Quantitative Morningstar Rating of 4 stars.

EPAM Systems

• Sector: Technology
• Industry: Information Technology Services
• Morningstar Economic Moat Rating: Narrow

EPAM Systems slid 24.4%, leaving the stock down 30.7% for the year. Shares are 44.0% below their last high on March 8, 2024. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 15% discount to its fair value estimate of $209.

Exact Sciences

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

Exact Sciences slid 23.4% in May, having fallen 44.3% from one year ago. Shares are 54.9% below their last high on July 19, 2023. The company’s stock has a Morningstar Rating of 4 stars and is trading at a 42% discount to its fair value estimate of $78 per share.

Cloudflare

• Sector: Technology
• Industry: Software—Infrastructure
• Morningstar Economic Moat Rating: Narrow

Cloudflare slid 22.6%, leaving the stock down 2.1% for the year. Shares are 41.6% below their last high on Feb. 9, 2024. The company’s stock has a Morningstar Rating of 3 stars and is trading at a 22% discount to its fair value estimate of $87 per share.

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.