2 Growth Stocks That Could Gain 125% and 164% From Their 52-Week Lows, According to Wall Street
Investor sentiment has deteriorated throughout the year, as persistent inflation and rapidly rising interest rates have called the economy's strength into question. During that time, Roku (NASDAQ: ROKU) and Datadog (NASDAQ: DDOG) have seen their share prices slip 84% and 58%, respectively. Both stocks currently sit near a 52-week low.
Some Wall Street analysts see that as a buying opportunity. For instance, Jason Bazinet of Citigroup has a price target of $125 per share on Roku, implying 164% upside from its 52-week low of $47.27. And Fatima Boolani of Citigroup has a price target of $170 per share on Datadog, which implies 125% upside from its 52-week low of $75.53.
Investors should never put too much faith in near-term price targets, but they can be useful for spotting overlooked opportunities. In this case, the market is consumed by economic uncertainty, so much so that many investors fail to see the long-term potential Roku and Datadog possess.
Source Fool.com