2 Top Growth Stocks With "No Downside" to Buy Now, According to Wall Street
Scorching inflation has hit the economy hard this year, causing the Federal Reserve to raise interest rates at the most aggressive pace since the 1980s. Many investors have responded by selling stocks, sending the market into a nosedive. But in some cases, Wall Street analysts think the selling has gone too far.
For instance, 20 analysts currently have price targets on Atlassian (NASDAQ: TEAM), and the most bearish estimate is $147 per share. That implies 24% upside from its current share price. Similarly, 18 analysts have price targets on Paycom Software (NYSE: PAYC), and the most bearish estimate is $345 per share. That implies 9% upside from its current share price. In other words, Wall Street sees no downside for shareholders.
Unfortunately, there is no such thing as a risk-free stock. Downside is always a possibility. But the optimistic consensus among analysts is still noteworthy. Here is what investors should know about Atlassian and Paycom.
Source Fool.com
