Here are recent stock picks by the highest-ranked analysts.
Wall Street analysts make new stock picks on a daily basis. Unfortunately, not all analysts and the stocks they pick are winners. Analyst opinions and ratings can vary significantly for a particular stock, making it difficult for investors to know which analysts to trust. Fortunately, market research firm TipRanks has implemented a system to track analyst stock picks for 12 months following each analyst rating. The company has compiled the overall performance of more than 7,600 analysts and ranked them from best to worst. Here’s a look at recent stock picks from each of the eight highest-ranked Wall Street analysts.
Analog Devices Inc. (ticker: ADI)
Out of more than 7,600 total analysts in the TipRanks database, Needham analyst Quinn Bolton is rated No. 1 based on his stock picking track record. Bolton has an impressive 80% success rate on his stock ratings, and his 434 stock picks have generated an average annual return of 50%. Semiconductor stock Analog Devices is among Bolton’s latest stock picks. Bolton initiated bullish coverage of Analog Devices earlier in September, and the stock is already up more than 9% so far this month. Bolton has a “buy” rating and a $200 price target for ADI stock, which closed at $171.29 on Sept. 28.
Zoom Video Communications Inc. (ZM)
The next highest-ranked analyst in the TipRanks database is Wolfe Research analyst Alex Zukin. Zukin’s 396 stock picks have generated a higher success rate than Bolton’s at 82%. However, Zukin’s average annual return is slightly lower at 39.1%. One of Zukin’s most recent stock pick is Zoom Video Communications, a cloud-based videoconferencing platform. Zoom Video was one of the biggest winners of the economic shutdown in 2020. Zoom shares are down 27% year to date in 2021, but Zukin clearly sees the dip as a buying opportunity. Zukin has a “buy” rating and a $375 price target for ZM stock, which closed at $261.89 on Sept. 28.
Truist Financial Corp. (TFC)
RBC Capital analyst Gerard Cassidy is third on the TipRanks list of top analysts. Cassidy has an 83% success rate, and his 378 stock picks have generated an average annual return of 33.3%. Cassidy recently reiterated his bullish stance on the sixth-largest U.S. commercial bank, Truist Financial, which has been a big winner in the past year. Cassidy praised the diversity of Truist’s business model following the company’s latest earnings report and said its insurance and investment banking businesses are performing particularly well. Cassidy has a “buy” rating and a $65 price target for TFC stock, which closed at $59.19 on Sept. 28.
Salesforce.com Inc. (CRM)
Fourth on TipRanks’ list of top-performing analysts is Oppenheimer’s Brian Schwartz. Schwartz has an 81% success rate, and his 417 stock picks have generated an average annual return of 35.3%. One of Schwartz’s latest stock picks is on-demand customer relationship management services giant Salesforce. Company shares have roughly tripled the return of the overall S&P 500 index in the past five years, and Schwartz has been bullish on the stock since 2012. Salesforce recently hit new all-time highs following yet another earnings beat. Schwartz has a “buy” rating and a $310 price target for CRM stock, which closed at $272.28 on Sept. 28.
Advanced Micro Devices Inc. (AMD)
In fifth place among TipRanks’ top-performing analysts is Jefferies analyst Mark Lipacis. Lipacis has an 80% success rate, and his 417 stock picks have generated an average annual return of 33.8%. Shares of chipmaker Advanced Micro Devices are up about 2,000% over the past decade, and Lipacis has been bullish on the stock since way back in 2012. Earlier this year, Lipacis said AMD will likely continue to gain server and PC market share from larger competitor Intel Corp. (INTC), which has struggled with production issues. Lipacis has a “buy” rating and a $127 price target for AMD stock, which closed at $101.52 on Sept. 28.
Semtech Corp. (SMTC)
Semiconductor maker Semtech is one of the latest stock picks from Oppenheimer analyst Rick Schafer, the sixth-ranked TipRanks top Wall Street analyst. Schafer has an 85% success rate among 342 stock picks, and his ratings have generated an average annual return of 29%. Schafer has been bullish on Semtech since December 2016, and the stock has outpaced the overall S&P 500 by nearly 90% since his initial upgrade. Earlier this year, Schafer said key wins with Amazon Web Services and other partners have further validated Semtech’s LoRa platform. Schafer has a “buy” rating and an $85 price target for SMTC stock, which closed at $77.38 on Sept. 28.
Sprout Social Inc. (SPT)
TipRanks’ seventh-ranked analyst is Canaccord Genuity analyst David Hynes. Hynes has an 81% success rate among 370 stock picks, but his 37.6% average annual return is third-best among the eight analysts mentioned. One of Hynes’ latest stock picks is online social media business management company Sprout Social. Despite difficult year-over-year comparisons, Hynes recently said Sprout Central is still in the early stages of its growth period and has long-term opportunities in both customer additions and monetization. Hynes has a “buy” rating and a $155 price target for SPT stock, which closed at $116.55 on Sept. 28.
Procore Technologies Inc. (PCOR)
Piper Sandler analyst Brent Bracelin is No. 8 on the TipRanks list of top analysts. Bracelin’s 78% success rate isn’t quite as high as some of the other analysts on this list, but his 37.6% average annual return among 416 stock picks demonstrates his elite abilities. One of Bracelin’s latest stock picks is cloud-based construction management software company Procore Technologies. Bracelin first initiated bullish coverage of Procore back in June and said the company has the opportunity to grow revenue by between 400% and 500% by 2026. Bracelin has a “buy” rating and a $115 price target for PCOR stock, which closed at $88.02 on Sept. 28.
Stock picks from top-rated Wall Street analysts:
— Analog Devices Inc. (ADI)
— Zoom Video Communications Inc. (ZM)
— Truist Financial Corp. (TFC)
— Salesforce.com Inc. (CRM)
— Advanced Micro Devices Inc. (AMD)
— Semtech Corp. (SMTC)
— Sprout Social Inc. (SPT)
— Procore Technologies Inc. (PCOR)
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8 Stocks to Buy, According to Top Wall St. Analysts originally appeared on usnews.com