Welcome to Extreme Investor Network, where we provide you with unique and valuable insights into investing, unlike any other site out there. As earnings season is in full swing, it’s essential to stay informed about the latest updates from tech giants and sector leaders that can influence the market’s direction.
While quarterly results give us a snapshot of a company’s performance, it’s crucial not to make investment decisions solely based on this information. Instead, consider the recommendations of top Wall Street analysts, who conduct in-depth analyses of a company’s fundamentals to identify stocks with solid long-term growth potential.
Here are three stocks favored by the Street’s top pros, according to TipRanks, a platform that ranks analysts based on their past performance.
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Alphabet (GOOGL)
Google parent company Alphabet recently reported results for the second quarter, highlighting the strength in its Search and Cloud businesses. Despite a slowdown in YouTube advertising revenue, analysts remain bullish on the stock. BMO Capital analyst Brian Pitz reiterated a buy rating on GOOGL stock with a price target of $222, citing artificial intelligence-related tailwinds in Alphabet’s Search business and the growth potential of its Cloud business. With a strong track record, Pitz ranks No. 189 among more than 8,900 analysts tracked by TipRanks. -
ServiceNow (NOW)
ServiceNow, a cloud-based software company, impressed investors with its strong results for the second quarter. Goldman Sachs analyst Kash Rangan increased the price target for NOW stock to $940 and reaffirmed a buy rating after the company raised its 2024 subscription revenue outlook. Rangan highlighted the company’s impressive growth in current remaining performance obligation and its continued momentum in AI, leading him to believe in sustained growth of more than 20%. With a successful track record, Rangan ranks No. 579 among analysts tracked by TipRanks. - Travel + Leisure (TNL)
Membership and leisure travel company Travel + Leisure exceeded earnings expectations for the second quarter, raising its full-year guidance. Tigress Financial analyst Ivan Feinseth reaffirmed a buy rating on TNL stock and raised his price target, citing strong consumer demand for vacation ownership. Feinseth expects TNL to benefit from lower interest rates and strategic partnerships, driving revenue and cash flow growth. With his successful track record, Feinseth ranks No. 235 among analysts tracked by TipRanks.
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