Markets

5 Stocks To Buy As They Touch New All-Time Highs

After a positive start to the week, stocks looked to continue rebounding on Tuesday morning as investors attempt to shrug off fears of an impending trade war. But early trading hours proved to be a rollercoaster ride, suggesting that intraday volatility is still present this week.

Nevertheless, several notable companies are surging to new highs. Netflix NFLX continued its remarkable run, while Micron MU surged to levels it has not seen since the early 2000s. Meanwhile, Baozun BZUN skyrocketed to a new peak and lifted the entire Chinese internet market.

Several of the companies climbing to fresh highs on Tuesday morning are also currently sporting strong Zacks Ranks, which means they could be poised to move even higher in the coming months.

Check out these five buy-ranked stocks that just hit all-time highs today:

1. Hewlett Packard Enterprise HPE

Shares of Hewlett Packard Enterprise gained as much as 1% to touch a new all-time high of $19.28 on Tuesday morning. The stock is comfortably at its post-spinoff peak on the back of a strong earnings report just two weeks ago. HPE has moved about 17% higher since that announcement, and the company's positive outlook was enough to inspire upward estimate revisions and earn the stock a Zacks Rank #2 (Buy). HPE also sports a "B" grade for Momentum in our Style Scores system.

2. Broadridge Financial Solutions BR

Broadridge is a global fintech leader, providing communications and tech solutions to financial services companies. Shares of the firm fell flat after a brief morning surge, but the stock did touch a new all-time intraday high of $104.33 per share. BR is currently sporting a Zacks Rank #1 (Strong Buy) after its better-than-expected earnings report last month. Broadridge is also holding an "A" grade for Growth.

3. Conduent Inc. CNDT

Conduent is a business process services company that helps organizations improve interactions with customers and employees. Shares of CNDT moved as much as 3% higher to hit a new all-time high of $20.32 in early morning trading. The stock currently has a Zacks Rank #1 (Strong Buy), and the Zacks Consensus Estimate for the company's full-year earnings has gained eight cents over the past 60 days. Analysts now expect Conduent to see EPS growth of 28% this fiscal year.

4. Salesforce.com CRM

Customer relations software giant Salesforce has been trading near its all-time peak since topping earnings estimates last week. CRM climbed again on Tuesday morning to touch a new intraday high of $124.35 per share. The company's recent report was also enough to bring in positive estimate revisions, lifting the stock to a Zacks Rank #2 (Buy). Salesforce is now up more than 50% over the past year.

5. Fortinet FTNT

Cybersecurity powerhouse Fortinet has moved about 16% higher in the month since its latest earnings report. The stock gained again in Tuesday morning trading, touching a new all-time high of $51.37 per share in early hours. FTNT is currently sporting a Zacks Rank #2 (Buy), as well as an "A" grade for Momentum. Fortinet is also expected to witness EPS growth of 37% in its current fiscal year.

Want more market analysis from this author? Make sure to follow @ Ryan_McQueeneyon Twitter!

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Fortinet, Inc. (FTNT): Free Stock Analysis Report

Hewlett Packard Enterprise Company (HPE): Free Stock Analysis Report

Netflix, Inc. (NFLX): Free Stock Analysis Report

Baozun Inc. (BZUN): Free Stock Analysis Report

Salesforce.com Inc (CRM): Free Stock Analysis Report

Micron Technology, Inc. (MU): Free Stock Analysis Report

Broadridge Financial Solutions, Inc. (BR): Free Stock Analysis Report

Conduent Inc. (CNDT): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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