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Tech stocks to buy now, picks from the sector’s most accurate analysts – Business Insider

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Tech stocks to buy now, picks from the sector’s most accurate analysts – Business Insider
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Salesforce


  • Sell-side analysts are tasked with studying individual companies inside and out to make recommendations that investors can act upon.
  • We compiled the 10 most accurate analysts in the technology sector based on data from TipRanks, a research firm that tracks thousands of analyst calls.
  • Click here for more BI Prime stories.

Wall Street analysts are tasked with digging deep into individual companies and emerging with bold directional forecasts that help investors make money.

We rounded up the 10 people who do this best within the technology sector based on data from TipRanks, a research firm that tracks sell-side analysts and their recommendations.

The firm’s ranking is based on two yardsticks. The first is success rate, which measures how many of an analyst’s ratings lead to positive returns. And the second is the average return across an analyst’s stock picks. 

In other words, an investor who followed these analysts’ recommendations a year ago would have reaped plump profits by now.

The analysts are listed below with details of their most recent buy recommendation as captured by Bloomberg. They appear in ascending order of their TipRanks rating. 

10. Quinn Bolton, Needham


Markets Insider


Success rate: 72%

Average return: 24%

Stock pick: Lam Research

Comment: On January 30, Bolton reiterated his buy rating on the chipmaker. He also raised his price target to $340, which would be a 9% rally.

Sources: TipRanks, Bloomberg

9. Ittai Kidron, Oppenheimer


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Success rate: 72%

Average return: 31%

Stock pick: Cisco

Comment: Kidron‘s price target of $55 would be a 20% return. 

Sources: TipRanks, Bloomberg

8. Matthew Hedberg, RBC


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Success rate: 78%

Average return: 25%

Stock pick: Proofpoint

Comment: Hedberg thinks the stock will surge 30% to $160 a share.

Sources: TipRanks, Bloomberg

7. Mark Lipacis, Jefferies


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Success rate: 75%

Average return: 29%

Stock pick: AMD

Comment: Lipacis on January 29 lifted his price target to $58 from $56, suggesting the stock will soar 22%.

Sources: TipRanks, Bloomberg

6. Terry Tillman, SunTrust Robinson


https://markets.businessinsider.com/stocks/crm-stock


Success rate: 86%

Average return: 41.2%

Stock pick: Salesforce

Comment: Tillman reiterated his buy rating on February 3 and sees the stock rising 7% to $195. 

Sources: TipRanks, Bloomberg

5. Brian Schwartz, Oppenheimer


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Success rate: 76%

Average return: 29.2%

Stock pick: Adobe

Comment: Schwartz predicted the stock would surge 16% to $410.

Sources: TipRanks, Bloomberg

4. Brent Bracelin, Piper Sandler


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Success rate: 78%

Average return: 30.7%

Stock pick: Microsoft

Comment: Bracelin predicted the tech giant would leap 15% to $199 a share.

Sources: TipRanks, Bloomberg

3. Glenn Greene, Oppenheimer


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Success rate: 87%

Average return: 23.1%

Stock pick: Visa

Comment: Greene sees this stock rising 4% to $210. 

Sources: TipRanks, Bloomberg

2. Joseph Foresi, Cantor Fitzgerald


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Success rate: 89%

Average return: 25.8%

Stock pick: Visa

Comment: Foresi predicted the payments processor would gain 6% to $159.

Sources: TipRanks, Bloomberg

1. Richard Davis, Canaccord Genuity


Markets Insider


Success rate: 87%

Average return: 46.2%

Stock pick: ServiceNow

Comment: The cloud-computing company has soared 51% over the past year — and Davis predicted an additional 10% gain to $375 within the next 12 months.

Sources: TipRanks, Bloomberg

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