We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Zacks Investment Ideas feature highlights: AppLovin, Vertiv and Splunk
Read MoreHide Full Article
For Immediate Release
Chicago, IL – September 6, 2023 – Today, Zacks Investment Ideas feature highlights AppLovin (APP - Free Report) , Vertiv (VRT - Free Report) and Splunk .
3 Top-Ranked Technology Stocks Charging Higher into Year-End
As we venture into the final stretch of the year, investors are actively seeking avenues to position their portfolios in anticipation of a potential year-end rally. Against the backdrop of an already impressive year for the stock market, the ongoing upward momentum leaves me decidedly bullish into the end of the year.
Technology stocks have been the unequivocal front-runners of this rally and are likely to remain the leaders. These are three less well-known technology stocks that have been on a tear all year. AppLovin, Vertiv and Splunk in addition to strong momentum also boast top Zacks Ranks.
AppLovin
AppLovin is a dynamic technology company that operates in the mobile app ecosystem. Founded in 2012, the company offers a comprehensive suite of solutions designed to empower app developers and businesses to reach their target audiences effectively. AppLovin's platform encompasses mobile advertising, app publishing, and analytics tools, enabling developers to maximize user engagement and revenue generation.
With some incredible earnings estimate revisions, it is no surprise APP enjoys a Zacks Rank #1 (Strong Buy) rating. Current quarter earnings estimates have been upgraded by 170% over the last month and are expected to climb 350% YoY to $0.27 per share. FY23 earnings estimates have been boosted by 120% and are projected to grow 328% YoY to $0.77 per share. Additionally, EPS are forecast to grow 20% annually over the next 3-5 years.
Having rallied an epic 300% YTD, AppLovin is clearly benefiting from the strong demand for technology stocks this year. It is worth noting that its stock is still more than -60% off its all-time high.
APP stock price action is quite encouraging and appears to have found a clear bottom. The stock continues to consolidate and break out from bull flags. Although it looks a bit extended here, investors can consider buying pull backs.
Splunk
Splunk is a prominent data analytics and technology company founded in 2003. Renowned for its powerful software platform, Splunk specializes in processing and analyzing vast amounts of machine-generated data.
The platform enables organizations to gain valuable insights from their data, helping them make informed decisions, enhance security, and optimize performance. With applications spanning cybersecurity, IT operations, business analytics, and more, Splunk has established itself as a pivotal player in the data-driven transformation of various industries.
Splunk too has experienced some considerable revisions higher to its earnings estimates, giving it a Zacks Rank #1 (Strong Buy) rating. Current quarter estimates have increased by 44% over the last month and are expected to grow 34% YoY to $1.11 per share.
From a technical perspective, SPLK stock cleared a two-year downtrend in May, and broke above a major level of resistance just last week. Last year and the year before that were not kind to SPLK stock as it experienced a -70% drawdown. However it seems that sell off went too far, and like a rubber band being stretched to its maximum, Splunk looks ready to snap back.
Vertiv
Vertiv is a leading provider of critical digital infrastructure and solutions. Established to address the evolving needs of data centers, communication networks, and industrial facilities, Vertiv specializes in ensuring the reliability, efficiency, and sustainability of these vital systems. With a focus on power management, thermal management, and IT management solutions, Vertiv enables organizations to operate seamlessly in a rapidly changing digital landscape.
Analysts have agreed unanimously to upgrade Vertiv's earnings estimates, giving it a Zacks Rank #1 (Strong Buy). Current quarter estimates have been increased by 26% and FY23 have been revised higher by 27%.
Vertiv might be the strongest stock of the three. While the other two are building momentum below their prior all-time highs, Vertiv is blasting to new highs daily. After breaking above a major level of support in May the stock rallied rigorously.
VRT continues to form consolidations and break higher. Although at this point it is a bit stretched investors should consider buy shares on pull backs.
Bottom Line
Although many investors have already performed very well, I don't think now is the time to step back. While we should certainly make sure not to give back our hard earned gains from this year, it looks like there are still opportunities abound in this market environment.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Zacks Investment Ideas feature highlights: AppLovin, Vertiv and Splunk
For Immediate Release
Chicago, IL – September 6, 2023 – Today, Zacks Investment Ideas feature highlights AppLovin (APP - Free Report) , Vertiv (VRT - Free Report) and Splunk .
3 Top-Ranked Technology Stocks Charging Higher into Year-End
As we venture into the final stretch of the year, investors are actively seeking avenues to position their portfolios in anticipation of a potential year-end rally. Against the backdrop of an already impressive year for the stock market, the ongoing upward momentum leaves me decidedly bullish into the end of the year.
Technology stocks have been the unequivocal front-runners of this rally and are likely to remain the leaders. These are three less well-known technology stocks that have been on a tear all year. AppLovin, Vertiv and Splunk in addition to strong momentum also boast top Zacks Ranks.
AppLovin
AppLovin is a dynamic technology company that operates in the mobile app ecosystem. Founded in 2012, the company offers a comprehensive suite of solutions designed to empower app developers and businesses to reach their target audiences effectively. AppLovin's platform encompasses mobile advertising, app publishing, and analytics tools, enabling developers to maximize user engagement and revenue generation.
With some incredible earnings estimate revisions, it is no surprise APP enjoys a Zacks Rank #1 (Strong Buy) rating. Current quarter earnings estimates have been upgraded by 170% over the last month and are expected to climb 350% YoY to $0.27 per share. FY23 earnings estimates have been boosted by 120% and are projected to grow 328% YoY to $0.77 per share. Additionally, EPS are forecast to grow 20% annually over the next 3-5 years.
Having rallied an epic 300% YTD, AppLovin is clearly benefiting from the strong demand for technology stocks this year. It is worth noting that its stock is still more than -60% off its all-time high.
APP stock price action is quite encouraging and appears to have found a clear bottom. The stock continues to consolidate and break out from bull flags. Although it looks a bit extended here, investors can consider buying pull backs.
Splunk
Splunk is a prominent data analytics and technology company founded in 2003. Renowned for its powerful software platform, Splunk specializes in processing and analyzing vast amounts of machine-generated data.
The platform enables organizations to gain valuable insights from their data, helping them make informed decisions, enhance security, and optimize performance. With applications spanning cybersecurity, IT operations, business analytics, and more, Splunk has established itself as a pivotal player in the data-driven transformation of various industries.
Splunk too has experienced some considerable revisions higher to its earnings estimates, giving it a Zacks Rank #1 (Strong Buy) rating. Current quarter estimates have increased by 44% over the last month and are expected to grow 34% YoY to $1.11 per share.
From a technical perspective, SPLK stock cleared a two-year downtrend in May, and broke above a major level of resistance just last week. Last year and the year before that were not kind to SPLK stock as it experienced a -70% drawdown. However it seems that sell off went too far, and like a rubber band being stretched to its maximum, Splunk looks ready to snap back.
Vertiv
Vertiv is a leading provider of critical digital infrastructure and solutions. Established to address the evolving needs of data centers, communication networks, and industrial facilities, Vertiv specializes in ensuring the reliability, efficiency, and sustainability of these vital systems. With a focus on power management, thermal management, and IT management solutions, Vertiv enables organizations to operate seamlessly in a rapidly changing digital landscape.
Analysts have agreed unanimously to upgrade Vertiv's earnings estimates, giving it a Zacks Rank #1 (Strong Buy). Current quarter estimates have been increased by 26% and FY23 have been revised higher by 27%.
Vertiv might be the strongest stock of the three. While the other two are building momentum below their prior all-time highs, Vertiv is blasting to new highs daily. After breaking above a major level of support in May the stock rallied rigorously.
VRT continues to form consolidations and break higher. Although at this point it is a bit stretched investors should consider buy shares on pull backs.
Bottom Line
Although many investors have already performed very well, I don't think now is the time to step back. While we should certainly make sure not to give back our hard earned gains from this year, it looks like there are still opportunities abound in this market environment.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.