There are some stocks you can buy with almost guaranteed confidence that they will offer consistent gains over the long term. Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) are two such companies with long histories of being top growth stocks thanks to their dominating positions
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Shares of Gap surged 20% in premarket trading on Friday as investors cheered signs that the apparel maker's efforts to bring in trendier and in-demand clothing at its Old Navy brand and keep inventory under control were paying off.
Growth stocks can drive a market-beating portfolio, but finding the next great growth stock can be difficult, especially in a market where investors are focused more on the bottom line than on top-line growth. There are some clear opportunities, though, in everything from consume
Depending on your age, you might recall a time when shopping involved dragging yourself to a physical store. But the rise of e-commerce in the early 2000s changed all of that, and tech giant Amazon (NASDAQ: AMZN) was a big proponent of the shift to online shopping.
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For Immediate ReleaseChicago, IL – November 17, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the f
(RTTNews) - Fall River, Massachusetts-based Raw SeaFoods, Inc. is recalling Farm Raised Lightly Seasoned Atlantic Salmon Burgers sold through Amazon's Whole Foods Market stores, according to the U.S Food and Drug Administration or FDA.
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TipRanks offers a convenient way to identify stocks that have a greater potential to yield returns surpassing market averages with the help of the
Top Smart Score Stocks tool. Yesterday, the social media and technology giant Meta Platforms (
NASDAQ:META
) was added to the “Perfect 10” list.
This tool assesses a stock's potential using eight crucial factors and assigns a rating from 1 to 10. Notably, stocks rated with a "Perfect 10" Smart Score have consistently outperformed the S&P 500 Index (
SPX
) by a significant margin.
Here’s Why META Stock Boasts a Perfect Score on TipRanks
Meta has had a stronghold in the social media market for several years with the help of its platforms, Facebook and Instagram. Furthermore, the introduction of new features on these platforms, such as Threads and Reels, reflects Meta’s ability to ensure user engagement and meet growing competition.
Also, the improving advertising market scenario and increased engagement of the younger generation on social platforms are anticipated to boost Meta's advertising revenues. In addition to this, the company’s initiatives to expand its user base by utilizing generative AI are promising.
During Meta's Connect conference in late September, the company introduced new AI features, including AI stickers and AI-based image editing, across its suite of apps and devices. Additionally, the company revealed Meta AI, an advanced chat assistant available on WhatsApp, Messenger, and Instagram in the United States. It is worth highlighting that
META recently launched two new AI-powered video editing tools, Emu Video and Emu Edit, for Facebook and Instagram.
Last week, analyst Justin Post from Bank of America Securities reiterated a Buy rating on Meta stock with a price target of $384. The analyst is optimistic about
the company’s recent partnership with Amazon (
AMZN
), under which users of the Facebook and Instagram platforms will be able to shop directly from the promoted Amazon ads. Post reiterated a Buy rating on Meta stock with a price target of $384.
Additionally, Post believes this collaboration has the potential to boost conversions, gather more primary user data, elevate user involvement, and accelerate the monetization process for Meta's messaging assets.
Is Meta a Buy, Sell, or Hold?
Overall,
Meta scores Wall Street’s Strong Buy consensus rating based on 36 Buys versus just one Hold rating. The average price target of $384.62 implies a 15.1% upside potential from the current level.
The stock has gained a massive 167.9% so far in 2023.
Ending Note
The company’s efforts to enhance its apps with generative AI and its strong market position help drive confidence in Meta’s future trajectory. Further, analysts are bullish on the stock and are looking for further upside in its share price.
Disclosure
Investors looking for significant returns can opt for
growth stocks. These stocks represent companies that are expected to outperform the market by showcasing substantial revenue or earnings growth. These firms often reinvest earnings for further expansion rather than distributing dividends, contributing to their exponential growth. However, growth stocks come with higher risk and volatility compared to other stocks.
Using the TipRanks
stock screener tool, we have shortlisted five growth stocks that have received Strong Buy ratings from analysts and whose price targets reflect an upside potential of more than 20%. These stocks also carry Outperform
Smart Scores (i.e., 8, 9, or 10) on TipRanks. Lastly, these companies’ revenues have witnessed a compound annual growth rate of over 10% in the past five years.
Here are the five stocks that investors can consider.
Nvidia (
NASDAQ:NVDA
) – The chip giant’s price forecast of $648.01 implies a 31% upside potential.
NVDA’s revenues have witnessed a 17.4% three-year CAGR. Seven analysts rated the stock a Buy in the past four days, and
NVDA stock has a “Perfect 10” Smart Score.
Amazon (
NASDAQ:AMZN
) – The e-commerce giant’s price forecast of $175.51 implies a 22.9% upside potential from the current levels.
The company’s revenue has grown at a CAGR of over 10%.
Amazon stock carries a Smart Score of 10.
Merck & Company (
NYSE:MRK
) – Merck is a global pharmaceutical company focused on healthcare, innovative drugs, and vaccines. The stock’s average price target implies an upside potential of 23.7%. Its
revenues increased at a CAGR of 12.6% in the past three years. Also,
MRK has a Smart Score of nine.
ConocoPhillips (
NYSE:COP)
– The company engages in oil and natural gas exploration, production, refining, and marketing. Analysts currently see an upside potential of 26.8% in the stock. Also, it has a
Smart Score of eight, and its
topline has grown at a CAGR of 61.1%. Importantly, seven Buy ratings have been assigned to COP stock following the release of
third-quarter earnings on November 2.
Snowflake (
NYSE:SNOW
) – The company’s platform enables customers to consolidate data into a single source. SNOW stock’s average price target implies a consensus upside of 21.3%.
Its revenues increased at a CAGR of 51.8% and has a
Smart Score of eight. In the past four days, four analysts have rated the stock a Buy.
Disclosure
Thrasio Holdings, which acquires third-party sellers on Amazon, is preparing to file for bankruptcy as it grapples with a post-pandemic slump in online spending, the Wall Street Journal reported on Thursday.
Shares of Sea Limited (NYSE: SE) were taking a dive this week after the diversified Southeast Asian tech company posted disappointing results in its third-quarter earnings report. Sea, which operates as an online gaming, e-commerce, and digital payments company, posted a surprise
In today's video, I discuss recent updates impacting Arm Holdings (NASDAQ: ARM), Microsoft (NASDAQ: MSFT), and other tech giants. Check out the short video to learn more, consider subscribing, and click the special offer link below.
Gap on Thursday forecast holiday-quarter sales below estimates, but posted better-than-expected results for the third quarter thanks to easing supply expenses and cost-control efforts, sending its shares up 11% in extended trading.