These 2 Monster Growth Stocks Could Rise 124% and 201% From 52-Week Lows, According to Wall Street
Economic uncertainty in 2022 triggered a gut-wrenching downturn in the stock market. The S&P 500 is down 17.8% from its previous high, and the Nasdaq Composite slipped 31.2%. Some growth stocks endured even greater losses. For instance, Cloudflare (NYSE: NET) and CrowdStrike (NASDAQ: CRWD) have seen their share prices plunge 78.5% and 54%, respectively, leaving both stocks trading near 52-week lows.
Some Wall Street analysts see these price drops as a buying opportunity. Sterling Auty of MoffettNathanson has a price target of $114 per share on Cloudflare, which implies a 201% upside from its 52-week low of $37.91. Similarly, John DiFucci of Guggenheim has a price target of $270 per share on CrowdStrike, which implies a 124% upside from its 52-week low of $120.50.
To be clear, Wall Street's price targets consider a relatively short time horizon, and no one -- not even the smartest investors -- can predict the future. For that reason, price targets should never be taken too seriously. But the strong bullish sentiment surrounding Cloudflare and CrowdStrike is still noteworthy.
Source Fool.com
