Any investor can strike lightning with a stellar investment. Third richest man in the world Warren Buffett says, “You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.”
The best investors know how to imitate successful moves, proven winning plays by experts. We turned to TipRanks’ Top-Rated Stocks investor tool to see which stocks are most-recommended on Wall Street.
Technology has become a ubiquitous machine in today’s modern world. As such, we filtered to pick names in the tech sector. Additionally, we chose names that have scored a ‘Strong Buy’ consensus rating among best-performing analysts. The following is a breakdown of 4 top-rated tech stocks on Wall Street. Let’s explore.
CyberArk (CYBR) shares have bounced 18% in three months- and the security software company stock popped almost 13% alone just on Wednesday. Clearly, the Street celebrated the company’s second quarter earnings beat.
CYBR CEO Udi Mokady notes, "Our growth was driven by strong execution and robust demand from both new and existing customers across all geographies. Given our strong execution in the first half of the year and our tremendous market opportunity, we are positioned well for the remainder of 2018."
Oppenheimer’s Shaul Eyal additionally just hosted a 21st Annual Technology, Internet, and Communication Conference in Boston. CyberArk’s CEO along with CFO and VP of IR all participated.
Eyal has emerged with upbeat takeaways- and commends the tech player following its killer second quarter earnings show. Notably, the confident CYBR bull is ranked #96 out of over 4,800 analysts we cover on TipRanks. (See Shaul Eyal’s other stock recommendations)
In reaction, the analyst reiterates Outperform rating on CYBR with a $75 price target. In other words, Eyal expects another 8% in upside potential for CyberArk.
“Following CYBR's strong 2Q results from Tuesday night we continue to believe the company is benefitting from multiple industry tailwinds, remaining well positioned for further strong execution and performance throughout the remainder of 2018,” contends Eyal.
Over the last three months, the ‘Strong Buy’ stock has fired up bullish attention among 7 best-performing analysts. CyberArk’s consensus average price target stands at $74.44, suggesting analysts expect close to 7% in upside potential.
Internet media company InterActiveCorp (IAC) shares are surging almost 6% Thursday- following an already almost 8% rise on Wednesday. This tech player is another company reaping the benefits of a strong post-second quarter print rally. IAC racked up $28.4 million in net income and $1.06 billion in revenue for its second quarter.
Wells Fargo’s Peter Stabler is a top 100 analyst on Wall Street in IAC’s bullish corner. Stabler calls IAC a “top smid-cap pick.”
Wall Street is underestimating the company: “we believe current share levels undervalue IAC’s portfolio of non-MTCH and ANGI assets.” The analyst maintains an Outperform rating on IAC with a $185 price target (4% upside potential).
Worthy of note, Stabler got bullish on IAC in September of 2016- and hasn’t budged from his confident perspective since. It’s certainly paid off. The analyst boasts a smooth 100% success rate and 43.9% in average profits on InterActiveCorp. (See Peter Stabler’s other stock recommendations)
Looking closely, we can see that all 10 best-performing analysts polled in the last three months rate a Buy on IAC. This tech player has earned a ‘Strong Buy’ analyst consensus rating on Wall Street. The 12-month average price target of $191.56 reflects nearly 8% in healthy upside potential ahead for IAC. See IAC Price Target and Analyst Ratings Detail.
Internet communications company Vonage Holdings (VG) stock saw an almost 7% lift after unleashing its second quarter results on August 1. In the last three months alone, investors have sent shares racing 17%.
Oppenheimer’s Timothy Horan reiterated an Outperform rating on VG stock on Wednesday with a $16 price target. Horan believes VG stock can soar another 16%. Notably, Horan has reached an impressive #16 analyst ranking on Wall Street. (See Timothy Horan’s other stock recommendations)
Vonage CFO David Pearson recently presented at Oppenheimer’s Technology, Internet, and Communications Conference. Horan’s takeaway: Vonage stands front and “center of the growing cloud communications industry.” The VG management team believes the total addressable market has legs to rocket from today’s roughly $43 billion to $72 billion by 2022.
“The company has invested in its go-to-market strategy, and management believes that it now has the most broad and robust omni-channel distribution platform in the cloud communications space,” highlights Horan.
The analyst sees Vonage showcasing “strong momentum” in the communications platform (CPaaS) as a service market, thanks to API Platform Nexmo Moreover, Vonage offers a “unique” one-two punch between unified communications as a service (UCaaS) and CPaaS.
Horan explains, “VG has about 770K UCaaS seats, and is seeing good momentum selling up market to larger customers. UCaaS and CPaaS is a powerful combination; CPaaS offers the building blocks that help customers embed unified communication capabilities into existing apps.”
Vonage Holdings is a top-ranked and unanimous bullish bet. The ‘Strong Buy’ stock has received 6 buy ratings in the last three months- and doesn’t have a bear in sight. Rounding out consensus expectations, the 12-month average price target rounds out to $15.25. In other words, best-performing analysts spotlight room for VG shares to run another nearly 11%. See VG Price Target and Analyst Ratings Detail.
Alarmcom (ALRM) stock saw a 7% upturn in reaction to Tuesday’s second quarter print. Investors took well to the news that the smart-home software company boosted its 2018 guide. Core SaaS and license revenue was on a 21% tear year-over-year for the quarter. This spurred second quarter EBITDA to grow 47% year-over-year.
On the back of the robust quarterly show, Maxim analyst Nehal Chokshi reiterates a Buy rating on ALRM stock with a $59 price target. Chokshi anticipates Alarmcom shares could rally another 20%. (See Nehal Chokshi’s other stock recommendations)
Two of Alarmcom’s bright spots of a great second quarter print: “unanticipated HW product sales and GM strength.”
Chokshi believes, “CY18 guidance raised across the board, which continues to appear conservative given continued core outperformance and a number of catalysts expected to ramp heading into CY19.”
In three months, the ‘Strong Buy’ stock has attracted 5 buy ratings from best-performing analysts in three months. Only one top analyst is sidelined. Expectations go to the bulls as well. The 12-month average price target stands at $55.00, marking 10% in upside potential. See ALRM Price Target and Analyst Ratings Detail.
This article was written by Julie Lamb.