See all posts by Matthew Dumigan Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Matthew Dumigan | Tuesday, 21st July, 2020 | More on: ASC Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” In the months following the March stock market crash, the ASOS (LSE: ASC) share price has been on a tear. Its meteoric rise has massively outperformed the wider market and subsequently, has prompted fears over an inflated valuation. With that in mind, is now a good time to buy shares in ASOS?Wild share price rideAfter reaching an all-time high in February 2018, investor sentiment towards the business significantly deteriorated. However, this wasn’t a new experience for the company. Back in February 2014, ASOS’s valuation reached a similar peak before tumbling 77% in the following months.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Founded in 2000, the online fashion and beauty retailer primarily targets a young adult audience. Over the years, the business has grown substantially, with the company’s website now selling over 850 brands as well as its own label.The impressive growth of ASOS is reflected in its share price appreciation. Despite the various peaks and troughs, those who bought the shares on day one would currently be sitting on around a 14,066% profit.With the shares down 55% from all-time highs, it’s evident that there could be a long-term buying opportunity here. But what about the company’s more recent performance?Exceptional performanceThe online-only retailer was naturally in a better place to ride out the pandemic than other businesses. Having no physical stores meant that the effects of worldwide lockdowns would most likely be minimal. Consequently, the company could focus its efforts on maintaining online revenues without worrying over the impact caused by store closures.A trading statement for the four months ended June 2020 suitably illustrates this. ASOS achieved a steady improvement in sales growth along with materially higher levels of profitability and cash generation. Total group revenue and retail sales both grew by 10% in what encapsulates an impressive performance amidst a global pandemic.That said, it’s worth noting that international sales predominantly drove the figures higher, with UK and US sales falling by 1% and 2% respectively. As a result, some analysts remain unimpressed by the update.Regardless, the company expects full-year profit to be towards the top end of market forecasts after a positive four months. What’s more, ASOS will continue to repay the support it received via the furlough scheme to the UK government.Future outlookLooking ahead, it seems too soon to say what the impact of Covid-19 will be on the business. Despite the fact that ASOS is undoubtedly better positioned than many of its competitors, it still faces challenges in the long run.For example, the group carries a substantial amount of debt, meaning that if profits struggle, servicing interest payments will become considerably more difficult. Overall however, the company’s balance sheet remains in reasonable shape.A key factor in the continued prosperity of the underlying business will be the retailer’s ability to continue expanding its consumer base. With the company’s mission “to become the world’s number-one online shopping destination for fashion-loving 20-somethings,” the news that its active consumer base increased by 16% year-on-year will be encouraging.Ultimately, a 12-month forward P/E ratio of 65.9 is hardly appealing to value investors. That said, if the online fashion market continues to boom and the company can successfully carry on growing earnings, the future looks bright in my eyes. As such, now could be an ideal time to buy into the ASOS share price. Matthew Dumigan has no position in any of the shares mentioned. The Motley Fool UK has recommended ASOS. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Our 6 ‘Best Buys Now’ Shares I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Up 220% over 3 months! Is now the time to buy into the ASOS share price? Image source: Getty Images. Simply click below to discover how you can take advantage of this.