Which stocks are best positioned to do well at this unusually turbulent time? Below are some companies that some of the top Wall Street analysts are placing bets on.
While it might be difficult to navigate the stock market during volatile times, paying attention to the ideas of Wall Street analysts who do well may offer a clearer route. When the economy grows and stocks rise from the lows caused by the epidemic, it is beneficial to take into account the stock recommendations of analysts who have a proven track record of success. We’ve found a few intriguing stocks using TipRanks’ analyst rating service, which uses a natural language processing algorithm to rank and follow the most recent recommendations from over 6,700 analysts.
Match Group
Wall Street analysts are growing more upbeat about dating applications; Match Group, the firm that owns Hinge and Tinder, is one such example. Analysts are now optimistic about its prospects despite a notable decline in its stock price over the last few years. Following a 75% decline from its highest share price of $169.53, Match Group‘s shares have had a 20% uptick, now trading at $42. Comparably, Bumble’s share price has dropped 77% since going public, but it has recovered slightly during the last month, hitting $16.63 per share.
Not a single analyst has given either stock a “sell” rating despite these setbacks. Experts highlight the continued appeal of online dating as well as the industry’s potential for further expansion. Analysts continue to view these stocks favorably because to their strong user engagement and prospects for revenue increase, despite the impending economic turmoil.
Globus Medical
Analysts have been giving Globus Medical, a significant player in the medical device sector, positive attention. Ryan Zimmerman, a BTIG analyst, recently reiterated his buy recommendation for Globus Medical and increased his price objective from $58 to $63. He highlights that Globus Medical is among the select few MedTech firms exhibiting positive free cash flow and year-over-year growth.
With a total revenue of $148.9 million, well above the $103.6 million consensus, the corporation announced exceptional financial results. The spine industry in the United States has recovered remarkably, going from a roughly 67% year-over-year decrease in April to a double-digit increase in June and a further rise in the mid-teens in July. As a result of the pandemic-related selloffs, Zimmerman thinks that investors have a great opportunity to invest in a business that is expanding faster than the spine market and making headway in cutting-edge fields like trauma and robotics.
Delta Air Lines (DAL)
Analysts are taking notice of Delta Air Lines; 22 have rated it as Overweight or a Buy and have set a target price of $50.00, which is 24% higher than the stock’s current trading value. 95% of analysts gave Delta a Buy rating in September, according to FactSet data, demonstrating their high level of confidence in the company’s future performance.
Although some have predicted the end of business travel, Ed Bastian, CEO of Delta, presents an alternative viewpoint. While traditional business travel has decreased by 20% from pre-pandemic levels, he points out that an increase in “workation” travel—where people work from different locations throughout the globe—has resulted from the development of remote and hybrid work. Due to the new hybrid work environment where mobility is a premium asset, this shift in travel behavior has helped Delta counteract the fall in controlled business travel.
Investors can better negotiate market volatility and find chances by paying attention to these expert selections and comprehending the fundamental causes of their confidence.