Wall Street is not always right.
In fact, it is always good practice to take analysts’ opinions with a grain of salt the size of a golf ball. That said, Wall Street companies with a solid track record can be a useful source of buying ideas.
Let’s take a look at three stocks on Oppenheimer analyst Brian Schwartz’s bullish list – currently the No. 1 ranked Wall Street analyst (out of 7,641 experts) according to TipRanks.
Any of these actions could very well be your next big creator of wealth.
Topping our list is cloud computing software specialist Salesforce, whose outperformance rating Oppenheimer reiterated late last month.
Along with the bullish stance, Schwartz raised his share price target from $ 265 to $ 290, which is 10% up from current levels.
In a note to investors, Schwartz said the stock is worth holding because of Saleforce’s great market opportunities, leadership position and predictability.
Schwartz also applauded Saleforce’s decision to acquire communications software specialist Slack Technologies for $ 27.7 billion. Wall Street largely rejected the move, but Schwartz argues that “the deal is costly but supports CRM’s long-term growth ambition.”
With the stock falling by around 4% over the past week, perhaps now is the time to bet on that ambition using a free investing app.
Then we have e-commerce platform giant Shopify, which Schwartz maintains as an outperformance with a price target of $ 1,700 per share. In other words, the analyst still sees an increase of around 14% from where Shopify is currently trading.
In a note to investors earlier this year, Schwartz wrote that the company is an important part of a “very large and rapidly accelerating market.” He also highlighted the company’s still massive international growth opportunities as the pandemic continues to fuel e-commerce.
In the company’s latest quarter, profits reached $ 879 million, with total revenue rising 57% from a year ago to $ 1.1 billion.
Shopify shares have traded slowly over the past few weeks and have fallen 4% in the past few days, giving contrarian tech investors to think about.
Rounding out our list is cloud-based technologist Sprinklr, which Schwartz recently launched with an outperformance rating. Along with the bullish call, Schwartz planted a stock price target of $ 29, which is a significant 65% rise from current levels.
In a note to investors, Schwartz expressed confidence in Sprinklr’s long-term growth potential, citing the company’s leadership position in experience management, increasingly important real-time solutions and strong internal returns on investment.
Schwartz also pointed to Sprinklr’s pedigree and experienced management team as reasons to be optimistic about the company’s ability to compete with cloud computing giants like Salesforce, Microsoft and Oracle.
Sprinklr shares are down 15% since their IPO earlier this summer, suggesting that the stock could have plenty of room to work for the remainder of 2021.
Go down a different path
There you have it: three actions approved by Oppenheimer that are worth seeing.
Even if you disagree with Oppenheimer’s Schwartz on these specific stock picks, you should still seek to implement the proven strategy of investing in attractive assets at discounted prices.
One of the assets of billionaire Bill Gates is to invest in American farmland.
In fact, Gates is America’s largest farmland owner, and for good reason: Over the years, farming has been shown to offer higher risk-adjusted returns than stocks and real estate.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.