Investing in the future is more than just a trend, it’s a necessity. As we look towards 2024, the S&P 500 has been boosted by optimism surrounding artificial intelligence, specifically in the key chip stocks and utilities sector. But as an investor looking for sustainable returns, it’s important to do your due diligence and find companies with solid long-term growth potential.
At Extreme Investor Network, we believe that partnering with top Wall Street analysts is the key to unlocking lucrative investment opportunities. These experts can help you understand the key drivers that support a company’s long-term growth and identify stocks that are likely to deliver substantial returns.
Here are three stocks favored by the Street’s top pros, according to TipRanks, a platform that ranks analysts based on their past performance.
1. Fortinet (FTNT): As a cybersecurity company aiming to become a leader in the secure access service edge space, Fortinet leverages machine learning and AI technologies to offer top-notch cybersecurity solutions. Recently, TD Cowen analyst Shaul Eyal reaffirmed a buy rating on Fortinet stock and raised the price target to $90 from $75. His bullish outlook is supported by continued recovery in FTNT’s business and healthy demand across the company’s product portfolio.
2. GitLab (GTLB): As an AI-powered, cloud-based software company that enhances developer productivity and reduces security risks, GitLab is well-positioned for growth. Mizuho analyst Gregg Moskowitz reiterated a buy rating on GitLab stock with a price target of $62, highlighting the company’s optimism in capturing further opportunities in the $40 billion total addressable market. With multiple upside levers, including seat expansion and upsell potential, GitLab presents a promising investment opportunity.
3. Nvidia (NVDA): Known as a semiconductor giant with robust revenue growth rates, Nvidia has been thriving on the demand for advanced GPUs in building artificial intelligence models. Goldman Sachs analyst Toshiya Hari raised the price target for NVDA stock to $150 from $135 after an investor meeting with Nvidia’s management. The company’s competitive positioning and projections for increased compute demand make it a solid choice for long-term growth potential.
At Extreme Investor Network, we understand the importance of strategic investing and partnering with top analysts to navigate the markets. By staying ahead of the curve and identifying promising investment opportunities, we aim to help our readers achieve sustainable returns in the ever-evolving world of investing. Join us as we explore the exciting possibilities of the investing landscape together.