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Goldman Sachs: these 3 stocks could climb at least 40%
Let’s talk about volatility. The NASDAQ started this week with a dip into corrective territory, dropping just over 10% below its February high. And now? After three trading sessions, the index rebounded 5.5%. Behind the volatility lies an economy that may be about to take off. Goldman Sachs’ strategy team sees February’s jobs numbers, as well as the COVID relief package in Congress (the House just passed the Senate version, sending the bill to President Biden’s office), as net positives. Goldman economist Jan Hatzius predicts 7.7% GDP for 2021 and says of the immediate conditions: “The main reason we expect a hiring boom this year is because the reopening, fiscal stimulus and pent-up economies should fuel very strong demand growth. ” Following Hatzius’ optimism, Goldman stock analysts have been busy exploiting stocks they see as potential winners under current conditions. They have some things in common that would increase their interest in investors: strong buy ratings and, according to Goldman, upside potential of at least 40% for the next 12 months. Let’s find out what makes these particular stocks so appealing. Bioventus (BVS) Goldman’s top pick we are reviewing is Bioventus, a medical innovator. The company has an active development program focused on treatments aimed at enhancing the body’s natural healing abilities. The company’s goal is to promote healing through minimally invasive treatments that are clinically effective and cost effective. The company’s product line focuses on the skeletal system, with products to improve bone healing, joint therapies and bone graft surgical procedures. Bioventus is present in 30 countries around the world. In February of this year, Bioventus held its IPO, setting the initial price of the shares in the range of $ 16 to $ 18. When the shares started trading on the NASDAQ on February 11, the opening price was $ 13, below the range. The company put 8 million shares on the market that day, and they closed at a price of $ 18.43. The sale brought in $ 153 million, with net proceeds of $ 104 million for Bioventus. The next big data update for investors will take place on March 25, when Bioventus releases its 4Q20 and full year results. While these numbers cover a period leading up to the company’s IPO, the first quarterly report as a public company is still eagerly watched. Bioventus shares have slipped since they started trading – the stock is down 29% in its first month on the market. Goldman Sachs, however, believes this new lower stock price could offer new investors the opportunity to enter BVS on the cheap. In his note for Goldman, analyst Amit Hazan writes: “[We] see the recent underperformance of stocks offering a solid entry point into a story that includes a notable portfolio of joint preservation opportunities and broad M&A opportunities that should offer a high likelihood of numbers rising in the years to come up. The analyst added, “The main growth drivers include: a strong portfolio in the fastest growing segment of the HA market; market share opportunities in the bone graft market; a large direct sales force presence and a network of independent distributors that can be leveraged as new products are launched… ”To this end, Hazan values BVS a Buy and its target price of $ 19 suggests a potential increase of 42% over one year. (To see Hazan’s track record, click here) Wall Street analysts clearly appreciate BVS stocks, as the recent 4 reviews are all buys, which is the consensus of the Strong Buy consensus rating. The shares are currently priced at $ 13.33, and the average price target of $ 19.25 implies a rise of 44% for the coming year. (See BVS stock market analysis on TipRanks) Salesforce.com (CRM) Next, Salesforce is one of the biggest names in the tech and marketing business. The company is a leader in customer relationship management (CRM), even taking its ticker from its flagship products. Salesforce provides cloud-based SaaS solutions to its customers for most of the front-end issues that marketing departments face on a daily basis. Salesforce’s share has grown 40% over the past 12 months as the company’s products and business model have proven to be easily adaptable to the pandemic’s transition to remote offices and virtual travel. After stable revenues in 1Q20, the company posted revenue gains in each of the next three quarters, as well as year over year gains. In the fourth quarter, the most recent reported, the company topped expectations by wide margins. Premium-end revenue was $ 5.82 billion, above the $ 5.68 billion forecast and up 20% year-over-year. EPS, at 28 cents, was a strong reversal from the 28-cent loss in 4Q19. Also in the fourth quarter, Salesforce continued its efforts to acquire and integrate the communications application Slack. The acquisition, worth $ 27.7 billion, is expected to close on July 31 of this year. In our opinion, 5 Star Analyst Kash Rangan, 5 Star Analyst, covers Salesforce for Goldman. “Salesforce remains on track to become one of the most strategic application software companies in the $ 1 billion + TAM cloud industry. With a large and expanding platform that covers sales, services, e-commerce, marketing, BI / analytics, artificial intelligence, custom apps, integration and collaboration, we believe Salesforce is also well positioned to capitalize on accelerated digital transformation spending … on his company’s doom list, with a buy note. Its price target of $ 315 suggests a margin of improvement of 45% this year. (To look at Rangan’s track record, click here) A tech company the size and scope of Salesforce will always grab the attention of Wall Street – and CRM Shares have 24 recent reviews on file. Of these, 19 are to be bought with only 5 to hold, making the analyst’s consensus rating a strong buy. The average price target of $ 277.30 suggests a potential upside of 28% from the trade price of $ 216.80. (See CRM Stock Analysis on TipRanks) Jamf Holding (JAMF) High-tech products – laptops, tablets, smartphones and their accessories – have revolutionized the way we interact with each other, with our colleagues and clients, with our electronic devices. Jamf Holdings, a Wisconsin-based software company, specializes in producing IT administration products for Apple devices running macOS, iOS, iPadOS, and tvOS. Jamf products allow system administrators to manage groups of devices, create policies, restrict device functionality, and even enable remote features such as configure, lock, and wipe. Apple has been one of the big growth stories in the market over the past decade, and Jamf is giving investors a way to lean on the tech giant. Jamf held its IPO in July of last year, and stocks quickly showed big gains. The 18 million shares put on the market started at $ 26 and gained 51% on their first day of trading. The company has also reported a steady increase in revenue since going public. 2Q20, the first quarter reported after the opening, showed $ 62 million at the top line; Q3 and Q4 showed $ 70.4 million and $ 76.4 million respectively. Profits, like in many tech companies, show a net loss. In his JAMF coverage for Goldman Sachs, analyst Rod Hall sees the company with a clear path forward. “We believe that Jamf’s unique remote management solutions for Apple products should continue to benefit the company, as remote work and study trends appear to be here to stay… Jamf noted that its outperformance in fourth quarter was due to overall demand of> 25%. Y / Y growth in all products, geographies and major industries, ”noted Hall. Hall gives Jamf’s stock a buy rating, along with a price target of $ 52 indicating a 40% upside potential for the shares. (To see Hall’s track record, click here) The Strong Buy analyst consensus rating on JAMF is unanimous, based on 6 recent Buy-side reviews. The shares are priced at $ 37.01 and their average price target of $ 47 suggests a rise of around 27% for the next 12 months. (See JAMF Stock Analysis on TipRanks) To find great ideas for stocks traded at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that brings together all the information about TipRanks stocks. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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