five Ideal Technologies Stocks to Invest in Now, According to Analysts
The technologies sector is recognized for its higher development possible. The need to have to constantly innovate and evolve to hold up with altering trends tends to make the sector extremely fascinating. In this context, the most current hype produced by Artificial Intelligence (AI) has sparked worldwide competitors amongst tech firms, which seems to be promising for the expansion of the market.
Regardless of the lingering macroeconomic uncertainty and higher inflation, the Dow Jones U.S. Technologies Index and the tech-heavy Nasdaq one hundred index (NDX) are up 35.six% and 28.three%, respectively, so far in 2023. As a result, increasing interest in AI ought to continue to help tech businesses.
Leveraging the TipRanks Stock Screener tool, we have shortlisted stocks with the possible to outperform the industry averages. These 5 stocks have received a Robust Get rating from analysts and have an Outperform Smart Score (i.e., eight, 9, or ten) on TipRanks. Additionally, the analysts’ cost targets indicate area for a 12-month get of much more than 20%.
Right here are the 5 favourite stocks of analysts in the tech space:
- Pure Storage (NYSE:PSTG) – Analysts presently see an upside possible of 33.five% in PSTG stock. Also, it has a Wise Score of ten.
- Enphase Power (NASDAQ:ENPH) – The stock’s cost forecast of $259.58 implies a practically 58% upside. ENPH stock has a Wise Score of eight.
- Common Dynamics (NYSE:GD) – GD stock has an analyst consensus upside of 27.five% and a Wise Score of eight.
- Epam Systems (NYSE:EPAM) – EPAM stock’s typical cost target implies a consensus upside of 22.six%. Additionally, it has an outperforming Smart Score of nine.
- Intuit (NASDAQ:INTU) – The stock has an average cost target of $504.20, which implies a 22.1% upside possible from present levels. Also, its Smart Score of nine is encouraging. The corporation reported fiscal Q3 earnings on May well 23, soon after which 12 analysts rated the stock a Get.