2 Beaten-Down Tech Stocks With 44% to 56% Upside, According to Wall Street
Wall Street analysts frequently set price targets for publicly traded companies: a price per share they believe the stock can reach in about 12 to 18 months based on the company's projected financials and valuation. And analysts tend to agree that cloud company DigitalOcean Holdings (NYSE: DOCN) and workplace-management software company Atlassian (NASDAQ: TEAM) are investment opportunities with upside. They also tend to agree that Upstart Holdings (NASDAQ: UPST) is trading at its limit.
I implore readers to take price targets with a grain of salt. The analysts rarely hit the price point exactly right, and most of them adjust their price targets multiple times per year. But I do think investors should consider the underlying reasoning used by the analysts to arrive at their bullish and bearish conclusions. And that's what we'll explore with these three companies.
DigitalOcean stock trades around $35.60 per share. The average analyst writing on the stock recommends buying and the average of their price targets suggests a jump of nearly 44% to $51.22, according to TipRanks. While these analysts are somewhat leery of macroeconomic conditions, they're generally upbeat about the company's growth trajectory and rising profitability.
Source Fool.com
