[ad_1]
Tip Ranks
Leading analysts of 3 stocks say they will increase in 2021
Sentiment is on the rise as the annus horribilis 2020 draws to a close. There is a feeling, after everything we’ve been through in the last ten months, that things just can’t get any worse. Therefore, investors are eagerly awaiting 2021 – two major factors of market uncertainty are about to resolve themselves. First, COVID-19 vaccines are in the works, and two major pharmaceutical companies have announced that the vaccines will be available in a matter of months. Second, Democrat Joe Biden will take office in the White House, with strengthened opposition from the GOP in Congress. The prospect of coronavirus relief and a divided government unable to take extreme or controversial measures promises us a degree of stability that will be welcome.A feeling of optimism and the perception that there are opportunities available have Wall Street analysts tagging them. actions for success. We collected TipRanks data on three stocks that senior analysts have labeled as potentially strong investments. These are buy-rated stocks, with double-digit upside potential for next year. LendingTree, Inc. (TREE) The first is LendingTree, the online marketplace that connects borrowers and lenders. The company offers borrowers options to purchase competitive rates, loan terms, and various financial products. Offerings from multiple funding sources include credit cards, deposit accounts, and insurance products. LendingTree is headquartered in North Carolina, with offices in New York, Chicago and Seattle. In the third quarter, the company showed mixed fiscal results. Revenues increased sequentially, earning 19% to reach $ 220 million, but earnings fell, both sequentially and year-over-year. At minus $ 1.33, EPS was net negative and well below $ 1.70 in the quarter a year ago. Covering this stock for Needham, 5-star analyst Mayank Tandon – rated 66 overall out of 7,100 equity professionals – is upbeat despite the recent turndown following third-quarter results. Tandon noted, “[We] remain positive on TREE LT shares as we believe the company is well positioned to generate strong and consistent revenue … Consumer revenues fell 68% y / y as the pandemic limited consumer credit origination, but trends have improved on a sequential basis due to better personal loan volumes and a seasonal boost from the student loan business … “” TREE’s diversified portfolio of personal finance products and strong secular trends driving the advertising shift and personal finance shopping to digital channels will help the company achieve its LT growth goals, “concluded the analyst. To this end, Tandon values TREE at Buy and sets a price target of $ 375. current, its target suggests a 44% upside for the stock in 2021. (To see Tandon’s track record, click here) LendingTree has a unanimous consensus rating from Strong Buy analysts, based on 6 buy reviews established last week. The stock’s average price target, $ 362, implies it has room for 39% growth from the current share price of $ 260.09. (See TREE stock analysis on TipRanks) Allegro MicroSystems (ALGM) Allegro MicroSystems is a semiconductor company and manufacturer of integrated circuits for sensor systems and analyst power technologies. The company’s products are used in the automotive and industrial sectors and include solutions for the development of control systems for electric vehicles. Allegro’s integrated circuits can also be found in data centers and green energy applications. Allegro is new to the equity markets, having held its IPO just last October. The stock debuted at $ 14 per share and the company offered 25 million shares. On its first day of trading, it closed at more than $ 17 per share, grossing over $ 440 million for the IPO. Since then, ALGM has gained 35% in less than four weeks of trading. Vijay Rakesh, a 5-star analyst at Mizuho, is clearly optimistic about this new corporation. “We believe Allegro is leading the early stages of a decades-long transformation. In sensing, automotive electrification and power distribution, with a substantial benefit deriving from its leadership in magnetic sensors, a differentiated roadmap for power ICs. and a no-need operating model. Allegro’s xMR sensors and power ICs drive technology platform leadership and enable better performance, accuracy and control for the growing electric vehicle market and Industry 4.0, key to electric motors next-generation automotive, data centers and factory automation, ”Rakesh wrote. With his optimistic comments, Rakesh assigns this stock a buy rating and a price target of $ 28. His target implies a potential upside of ~ 17% for the next 12 months. (To see Rakesh’s track record, click here) Overall, this chip maker is a Wall Street favorite. Out of 6 analysts surveyed in the past 3 months, all 6 are bullish on ALGM. With a potential return of ~ 18%, the stock’s consensus target price is $ 28.29. (See ALGM Stock Analysis on TipRanks) American Well (AMWL) American Well, also called AmWell, connects patients, health care providers and insurers to drive quality care outcomes in a digital world. The company boasts over 55 major insurers and more than 62,000 providers incorporating its service into their networks, giving access to over 80 million potential patients. AmWell is another newcomer to the markets. Last September, the company held its IPO and raised more than $ 742 million. Over 41.2 million shares were sold, at an initial price of $ 18. That’s compared to the 35 million shares and the $ 14 to $ 16 expected price prior to the event. In its first quarter of trading as a public company, AmWell posted several gains in key metrics. Revenues increased year on year, increasing 80% to reach $ 62.6 million. The total number of active suppliers – more than 62,000 – represents a 930% increase in the last year and shows strong growth for the company. And the company recorded over 1.4 million patient visits during the quarter, a 450% increase from the quarter a year ago. Piper Sandler 5-star analyst Sean Wieland stresses the importance of network growth for AMWL, writing in his headline note: “62,000 providers use the AMWL network, nearly 10 times more than a year ago. increase was driven primarily by providers employed or affiliated with AMWL’s healthcare systems and paying customers … As the number of providers on the network grows, so does the value of the network; Network expansion makes it easier for patients to find the right supplier and for suppliers to find the right patient “. Wieland rates AMWL as overweight (aka Buy) and its $ 44 price target indicates its confidence in a 78% rise over the next 12 months. (To see Wieland’s track record, click here) All in all, AMWL’s Moderate Purchase Consensus rating is based on 8 reviews, including 5 purchases and 3 outlets. The shares are selling at $ 24.71 and their average price target, at $ 35.86, represents a potential upside of 45%. (See AMWL Stock Analysis on TipRanks) To find good ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buys, a newly launched tool that combines all of TipRanks’ equity insights. Disclaimer: The views expressed in this article are solely those of the analysts present. The content is to be used for informational purposes only. It is very important to do your own analysis before making any investments.
