This cloud company is a buy thanks to its strong margins and moat, Goldman Sachs says

A confluence of positive factors could drive strong gains for Veeva Systems, a cloud-based software provider for the life sciences industry, according to Goldman Sachs. Goldman initiated coverage of the stock with a buy rating and a price target of $253 per share, which implies upside of about 34% from Wednesday’s close. The company is … Read more

Exxon Mobil shares can jump another 45% from current levels, Credit Suisse says in upgrade

Exxon Mobil ‘s divergent corporate strategy has put it in position to capitalize on the jump in oil prices, according to Credit Suisse. Analyst Manav Gupta upgraded Exxon Mobil to outperform from neutral, saying in a note to clients Tuesday that the oil giant’s continued investment in fossil fuels will pay off for investors in … Read more

Video game stock Take Two Interactive looks cheap and can rally 33%, JPMorgan says

Shares of video game company Take-Two Interactive look attractive after a pullback this year, according to JPMorgan. JPMorgan on Thursday rated Take-Two overweight after a period of restriction. The firm also set a $175 price target on the stock, implying 33.2% upside. Take-Two shares are down about 26% in 2022, underperforming the S & P … Read more

Buy Spotify as the music subscription service is in better shape than Netflix, Raymond James says

Spotify ‘s decline this year has gone too far, Raymond James said Monday. Analyst Andrew Marok upgraded the music streaming service’s stock to outperform from market perform, noting that “the stock is not broken” despite its 52% decline for 2022 and that most of the bad news surrounding the company has already been price in. … Read more

Snowflake can jump 33% as it gains more share in the cloud market, Raymond James say

Snowflake ‘s shares have plummeted 59.2% this year as rising rates threaten popular growth stocks, but Raymond James is “seeing through the whiteout.” Analyst Simon Leopold initiated coverage of Snowflake with an outperform rating, saying in a note to clients Thursday that the company is a “share gainer” and a “pure play” in the growing … Read more

Insider buying is surging. Why it may not signal a market bottom

Stock buying by corporate insiders has risen sharply in May, but retail investors may want to hold out a little longer before following their lead. Through May 23, the ratio of insider buy-to-sell value was at its highest monthly level since March 2020, according to data from The Washington Service . The number of inside … Read more

S&P 500 could hit 3,200 before bottoming in ‘worst case,’ Fairlead’s Stockton says

Fairlead Strategies founder Katie Stockton said Wednesday that the S & P 500 could plunge as low as 3,200 before bottoming in the most calamitous outcome for the market. “I think worst-case scenario should be about 3,200, because that’s the secondary level below 3,500. It’s based on a very important Fibonacci retracement level. … So … Read more

Oppenheimer says this exchange operator is a defensive play amid volatility

Investors looking to play defense in a beaten-up market riddled with volatility may find some relief in exchange operator CME Group, Oppenheimer says. Analyst Owen Lau upgraded CME Group to outperform from perform, saying in a note to clients that the exchange operator is a good pick for investors “defending against the bear.” “Our upgrade … Read more

Citi downgrades railroad stocks including CSX, says slowing economic growth will limit upside

As Wall Street begins to worry about economic growth, railroad stocks could be in for a rough ride, according to Citi. Analyst Christian Wetherbee downgraded three rail stocks — CSX , Norfolk Southern and Union Pacific — to neutral from buy, saying in a note to clients Thursday that a slowing economy would hurt investors … Read more

SoFi shares can rally 48% as student loan moratorium clears, Piper Sandler says

Surging interest rates continue to put pressure on fintech stocks, but shares of SoFi are due for a rebound, Piper Sandler says. Analyst Kevin Barker upgraded SoFi to overweight from neutral, saying in a note to clients Monday that the fintech stock is trading at a hefty discount. “We acknowledge there will be some headwinds … Read more