TipRanks
Sentiment is on the rise as the annus horribilis 2020 winds to an end. Theres a feeling, after all we have been through over the past ten months, that things just can not get worse. And so, investors are looking forward to 2021.Two big factors in market uncertainty are on their way to resolving themselves. First, COVID-19 vaccines are in the works, and two major drug companies have announced that vaccines will be available in a matter of months. And second, Democrat Joe Biden will take office in the White House, with a strengthened GOP opposition in Congress. The prospect of relief from the coronavirus and a divided government unable to enact extreme or controversial measures promises us a degree of stability that will be welcome.A feeling of optimism and a perception that there are opportunities available, have Wall Streets analysts tagging stocks for success. Weve pulled up theTipRanks dataon three stocks that high-rated analysts have tagged as potentially strong investments. These are buy-rated equities, with double-digit upside potential for the coming year.LendingTree, Inc. (TREE)First up is LendingTree, the online marketplace that connects borrowers and lenders. The company offers borrowers options to shop for competitive rates, loan terms, and various financing products. Among the offerings, from multiple financing sources, are credit cards, deposit accounts, and insurance products. LendingTree is based in North Carolina, with offices in New York, Chicago, and Seattle.In the third quarter, the company showed mixed fiscal results. Revenues were up sequentially, gaining 19% to reach $220 million but earnings were down, both sequentially and year-over-year. At minus $1.33, the EPS was net-negative, and far below the year-ago quarters $1.70.Covering this stock for Needham, 5-star analyst Mayank Tandon rated 66 overall out of more than 7,100 stock pros is upbeat despite the recent turndown after the Q3 results. Tandon noted, [We] remain positive on the shares of TREE LT as we believe that the company is well-positioned to generate strong and consistent revenue Consumer revenue dropped 68% Y/Y as the pandemic constrained consumer credit originations, but trends improved on a sequential basis due to better personal loan volumes and a seasonal boost from the student loan business""TREE's diversified portfolio of personal finance products and the strong secular trends driving the shift of personal finance advertising and shopping to digital channels will help the company achieve its LT growth targets, the analyst concluded. To this end, Tandon rates TREE a Buy, and sets a $375 price target. At current levels, his target suggests a 44% upside for the stock in 2021. (To watch Tandons track record, click here)LendingTree has a unanimous Strong Buy analyst consensus rating, based on 6 Buy reviews set in recent week. The stocks average price target, $362, implies it has room for 39% growth from the current share price of $260.09. (See TREE stock analysis on TipRanks)Allegro MicroSystems (ALGM)Allegro MicroSystems is a semiconductor company and fabless manufacturer of integrated circuits for sensor systems and analyst power technologies. The companys products are used in the automotive and industrial sectors, and include solutions for developing electric vehicle control systems. Allegros circuit chips can also be found in data centers and green energy applications.Allegro is new to the stock markets, having held its IPO just this past October. The stock debuted at $14 per share, and the company put 25 million shares up for offer. In its first day of trading, it closed at more than $17 per share, grossing over $440 million for the IPO. Since then, ALGM has gained 35% in less than four weeks of trading.Vijay Rakesh, 5-star analyst with Mizuho, is clearly bullish on this newly public company.We believe Allegro is leading the early stages of a multi-decade transformation in sensing, automotive electrification, and power distribution, with substantial upside from its industry leadership in magnetic sensors, a differentiated Power IC roadmap, and fabless operating model. Allegro's xMR sensors and power ICs drive technology platform leadership and enable better performance, accuracy, and control for the growing EV market and Industry 4.0 - key for next-generation electrified automotive powertrains, data centers, and factory automation, Rakesh wrote.Along with his upbeat comments, Rakesh gives this stock a Buy rating and a $28 price target. His target implies an upside potential of ~17% for the next 12 months. (To watch Rakeshs track record, click here)Overall, this chip maker is a Wall Street favorite. Out of 6 analysts polled in the last 3 months, all 6 are bullish on ALGM. With a return potential of ~18%, the stock's consensus target price stands at $28.29. (See ALGM stock analysis on TipRanks)American Well (AMWL)American Well, also called AmWell, connects patients, health care providers, and insurers to promote quality care outcomes in a digital world. The company boasts over 55 major insurers and more than 62,000 providers incorporating its service into their networks, giving access to more than 80 million potential patients.AmWell is another newcomer to the markets. This past September, the company held its IPO and raised more than $742 million. Over 41.2 million shares were sold, with the initial price of $18. This compared well to the 35 million shares and $14 to $16 price expected prior to the event. In its first quarter trading as a public company, AmWell reported several gains in key metrics. Revenue was up year-over-year, rising 80% to reach $62.6 million. The active provider total more than 62,000 represents a 930% increase in the past year, and shows strong growth for the company. And the company registered over 1.4 million patient visits during the quarter, a 450% increase from the year-ago quarter.Piper Sandlers 5-star analyst Sean Wieland notes the importance of network growth for AMWL, writing in his note on the stock: 62K providers are using the AMWL Network, up almost 10x from a year ago. The increase was driven primarily by providers employed by, or affiliated with, AMWL's health systems and payor clients As the number of providers on the network grows, so does the value of the network; network expansion makes it easier for patients to find the right provider and for providers to find the right patient.Wieland rates AMWL an Overweight (i.e. Buy), and his $44 price target indicates his confidence in an upside of 78% for the next 12 months. (To watch Wielands track record, click here)All in all, AMWL's Moderate Buy consensus rating is based on 8 reviews, including 5 Buys and 3 Holds. The shares are selling for $24.71 and their average price target, at $35.86, represents a 45% upside potential. (See AMWL stock analysis at TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights.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.
See the original post:
Forecast: Analysts Think Fulgent Genetics, Inc.'s (NASDAQ:FLGT) Business Prospects Have Improved Drastically - Yahoo Finance
- Trump and Musk are obsessed with genetics but theres no science behind their simplistic views - The Guardian - January 1st, 2025 [January 1st, 2025]
- From Stonehenge's origins to ice age baby genetics how well did you follow this year's top archaeology stories? - Livescience.com - January 1st, 2025 [January 1st, 2025]
- William Thilly, MIT genetics professor who invented Apple Jacks cereal, dies at 79 - The Boston Globe - January 1st, 2025 [January 1st, 2025]
- Is Atossa Genetics (ATOS) Stock Outpacing Its Medical Peers This Year? - Yahoo Finance - December 23rd, 2024 [December 23rd, 2024]
- With 54% ownership, Fulgent Genetics, Inc. (NASDAQ:FLGT) boasts of strong institutional backing - Yahoo Finance - December 23rd, 2024 [December 23rd, 2024]
- Using the PERC Database to Gather Insights on Epilepsy Genetics: Julie Ziobro, MD, PhD; John Schreiber, MD - Neurology Live - December 23rd, 2024 [December 23rd, 2024]
- Myriad Genetics' Breakthrough Cancer Test Named Top 10 Genomic Advance by Leading Journal - StockTitan - December 23rd, 2024 [December 23rd, 2024]
- Redecan Cannabis Launches New Limited-Edition Genetics and Expands Signature 'Wrapped & Redee' Pre-roll Line for the Holidays - Yahoo Finance - December 23rd, 2024 [December 23rd, 2024]
- Surprising yields, impressive genetics and an early harvest in 2024 Ohio Ag Net - Ohio's Country Journal and Ohio Ag Net - December 9th, 2024 [December 9th, 2024]
- Using music to help people with dementia; supporting breastfeeding radiologists; genetics and Type 2 diabetes; plus other news stories with VUMC... - December 9th, 2024 [December 9th, 2024]
- Genetics and suicideWhats the link? - Genetic Literacy Project - December 9th, 2024 [December 9th, 2024]
- Genetics is all fun and games for a Rochester card game creator - Rochester Post Bulletin - November 28th, 2024 [November 28th, 2024]
- Community engagement conduct for genetics and genomics research: a qualitative study of the experiences and perspectives of key stakeholders in Uganda... - November 28th, 2024 [November 28th, 2024]
- Dietary restriction interventions: lifespan benefits need resilience and are limited by immune compromise and genetics - Nature.com - November 28th, 2024 [November 28th, 2024]
- Texas A&M Researchers Uncover Secrets Of Horse Genetics For Conservation, Breeding - Texas A&M University Today - November 20th, 2024 [November 20th, 2024]
- Myriad Genetics Announces Prequel Prenatal Screening Can Now be Performed Eight Weeks into Pregnancy - GlobeNewswire - November 20th, 2024 [November 20th, 2024]
- Fulgent Genetics, Inc. (FLGT): Among the Best Genomics Stocks to Buy Right Now - Yahoo Finance - November 20th, 2024 [November 20th, 2024]
- Precision mutational scanning: your multipass to the future of genetics - Nature.com - November 20th, 2024 [November 20th, 2024]
- Advancements of Haploid Technology in Crops: New Horizons in Breeding and Genetics - Frontiers - November 20th, 2024 [November 20th, 2024]
- Toward advances in retinoblastoma genetics in Kenya - Nature.com - November 12th, 2024 [November 12th, 2024]
- CRISPR/Cas9 screens identify key host factors that enhance rotavirus reverse genetics efficacy and vaccine production - Nature.com - November 12th, 2024 [November 12th, 2024]
- Genetics Play Key Role in Animal Health and Welfare, Aggression and Handling - Farms.com - November 12th, 2024 [November 12th, 2024]
- Episode 174: Rudy Tanzi talks about genetics, aging and the hallmarks of Alzheimers - IHMC - October 26th, 2024 [October 26th, 2024]
- Ocuphire and Opus Genetics merge to develop IRD gene therapy - Pharmaceutical Technology - October 26th, 2024 [October 26th, 2024]
- The RD Fund Announces Ocuphire Pharma's Acquisition of Opus Genetics - PR Newswire - October 26th, 2024 [October 26th, 2024]
- The RD Fund Announces Ocuphire Pharma's Acquisition of Opus Genetics - WV News - October 26th, 2024 [October 26th, 2024]
- Faculty of Science | Protecting Canadas number one crop through genetics - UM Today - October 26th, 2024 [October 26th, 2024]
- Ocuphire and Opus Genetics merge to develop IRD gene therapy - Yahoo Finance - October 26th, 2024 [October 26th, 2024]
- Opinion | Fascinated by genetics? Where are the peas Trump made to fornicate? - The Washington Post - October 13th, 2024 [October 13th, 2024]
- Dietary restriction can extend lifespan but genetics matters more - Nature.com - October 13th, 2024 [October 13th, 2024]
- 'They have much stronger players' - Bangladesh assistant coach bizarrely blames 'genetics' for lack of six hitters in the team - Sporting News - October 13th, 2024 [October 13th, 2024]
- Medical Moment: Genetics and breast cancer with USA Health Genetic Counselor Cassie Gurganus - AOL - October 13th, 2024 [October 13th, 2024]
- Myriad Genetics Announces Five Research Collaborations to Study the Use of MRD Testing in Breast Cancer - Yahoo Finance - October 13th, 2024 [October 13th, 2024]
- An ideologically-based and misleading critique of how modern genetics is taught - Why Evolution Is True - October 13th, 2024 [October 13th, 2024]
- 2024 Mercedes-AMG C63 Review: Bold But Beholden to Its Genetics - Newsweek - October 2nd, 2024 [October 2nd, 2024]
- Myriad Genetics Announces Third Patent Granted for Molecular Residual Disease (MRD) with Early Priority Date - GlobeNewswire - October 2nd, 2024 [October 2nd, 2024]
- Digbi Health Launches an SEC-regulated Offering, Giving Millions the Opportunity to Invest in Groundbreaking Genetics and Gut Microbiome-based Care... - October 2nd, 2024 [October 2nd, 2024]
- The role of genetics in depression | Second Opinion - KCRW - September 23rd, 2024 [September 23rd, 2024]
- Tilapia genetics company Spring Genetics teams up with UK data firm to improve fish welfare - SeafoodSource - September 23rd, 2024 [September 23rd, 2024]
- Picky eating in kids is mostly due to genetics, study says - Motherly Inc. - September 23rd, 2024 [September 23rd, 2024]
- Research Shows That Fussy Eating In Children Is Mainly Influenced By Genetics - RTTNews - September 23rd, 2024 [September 23rd, 2024]
- Genetics colloquium: Chris Hittinger on the genomic making of metabolic niche breadth Sep. 11 - University of WisconsinMadison - September 15th, 2024 [September 15th, 2024]
- NIH Recognizes Yales Expertise in the Genetics of Rare Diseases - Yale School of Medicine - September 15th, 2024 [September 15th, 2024]
- SOPHiA GENETICS and AstraZeneca Collaborate to Further Expand Global Access to Liquid Biopsy Testing - PR Newswire - September 15th, 2024 [September 15th, 2024]
- Medicines race dilemma: What science says about genetics and health [PODCAST] - Kevin MD - September 15th, 2024 [September 15th, 2024]
- Researchers want to unlock genetics of the worlds tiniest animals - Popular Science - September 15th, 2024 [September 15th, 2024]
- Sophia Genetics and AstraZeneca collaborate to expand liquid biopsy test rollout - Medical Device Network - September 15th, 2024 [September 15th, 2024]
- From farm to future: Technology in genetics - National Hog Farmer - September 2nd, 2024 [September 2nd, 2024]
- Editorial: Plant biotechnology and genetics for sustainable agriculture and global food security - Frontiers - September 2nd, 2024 [September 2nd, 2024]
- NSF Grant Brings Genetics Opportunities to Students in Alabama - Government Technology - September 2nd, 2024 [September 2nd, 2024]
- SBUs Ben Luft brings Lyme expertise to seminal paper on bacterial genetics and evolution - TBR News Media - September 2nd, 2024 [September 2nd, 2024]
- SOPHiA GENETICS to Present at the 22nd Annual Morgan Stanley Healthcare Conference and 9th Annual TD Cowen FutureHealth Conference - PR Newswire - September 2nd, 2024 [September 2nd, 2024]
- Singapores National Precision Medicine (NPM) Programme Engages Oxford Nanopore to Advance Understanding of the Genetics of Singapores Multi-Ethnic... - August 5th, 2024 [August 5th, 2024]
- Fulgent Genetics Second Quarter 2024 Earnings: Beats Expectations - Yahoo Finance - August 5th, 2024 [August 5th, 2024]
- Stopped clinical trials give evidence for the value of genetics - Nature.com - August 5th, 2024 [August 5th, 2024]
- What is DSD? Sex genetics and Olympic boxing controversy - Washington Examiner - August 5th, 2024 [August 5th, 2024]
- Fulgent Genetics Q2: Core Revenue Grows, but Profitability Is Still an Issue - The Motley Fool - August 5th, 2024 [August 5th, 2024]
- Viewpoint: Challenging yet another scientifically silly article claiming Black domination of sprinting and long distance running has nothing to do... - August 5th, 2024 [August 5th, 2024]
- Texas Company Trying To Resurrect Woolly Mammoths To Improve Genetics Of Bison - Cowboy State Daily - August 5th, 2024 [August 5th, 2024]
- Genetics confirms Berbers reached North Africa over 20,000 years ago; Arabs came in 7th Century CE - Down To Earth Magazine - August 5th, 2024 [August 5th, 2024]
- Unlocking plant genetics with telomere-to-telomere genome assemblies - Nature.com - July 26th, 2024 [July 26th, 2024]
- Carlo Ancelotti claims Jude Bellingham's 'genetics' are main reason behind Real Madrid & England superstar's meteoric rise to the top - Goal.com - July 26th, 2024 [July 26th, 2024]
- Genetics-based modeling estimates Idaho's wolf population was 1,150 in summer 2023 - Idaho Fish and Game - July 26th, 2024 [July 26th, 2024]
- Lung Cancer Research Foundation Joins Lung Cancer Advocacy Organizations and 23andMe to Launch Lung Cancer Genetics Study to Advance Research - PR... - July 26th, 2024 [July 26th, 2024]
- Fulgent Genetics (FLGT) Scheduled to Post Earnings on Friday - Defense World - July 26th, 2024 [July 26th, 2024]
- SOPHIA GENETICS Announces Expanded Relationship with Canada-Based OncoHelix - Financial Times - July 26th, 2024 [July 26th, 2024]
- LG Household & Health Care publishes research into the genetics of skin tone - GlobalCosmeticsNews - July 26th, 2024 [July 26th, 2024]
- Estonians gave their DNA to science now they're learning their genetic secrets - Nature.com - June 27th, 2024 [June 27th, 2024]
- Genetic clues to depression revealed in large study - PsyPost - June 27th, 2024 [June 27th, 2024]
- Move Over, Genghis Khan. Many Other Men Left Huge Genetic Legacies - Smithsonian Magazine - June 27th, 2024 [June 27th, 2024]
- 3X4 Genetics Selected as Partner for Preeminent Cancer Research and Treatment Nonprofit, The Metabolic Terrain ... - BioSpace - June 27th, 2024 [June 27th, 2024]
- NIFA Invests $6M in Animal Breeding, Genetics and Genomics | NIFA - National Institute of Food and Agriculture - June 27th, 2024 [June 27th, 2024]
- Arbel Harpak: Pursuing the Next Frontier in Genetics | Dell Medical School - Dell Medical School - June 27th, 2024 [June 27th, 2024]
- Coffee habits are partly linked to genetics, UC San Diego researchers say - NBC San Diego - June 27th, 2024 [June 27th, 2024]
- Advanced genetic tools help researchers ID new neurodevelopmental syndrome - Yale News - June 27th, 2024 [June 27th, 2024]
- Nutritious diet may protect against type 2 diabetes, regardless of genetics - News-Medical.Net - June 27th, 2024 [June 27th, 2024]
- Genome-wide association study identifies host genetic variants influencing oral microbiota diversity and metabolic ... - Nature.com - June 27th, 2024 [June 27th, 2024]
- Unlock the Secrets of Your DNA with Advanced Genetic Testing - North Forty News - June 27th, 2024 [June 27th, 2024]
- Modern and precise: Using gene editing to change the blueprint of an organism - Beef Magazine - June 27th, 2024 [June 27th, 2024]
- The 'gene deserts' unravelling the mysteries of disease - BBC.com - June 27th, 2024 [June 27th, 2024]