Earnings season is well underway, as a number of mega-cap tech names released their financial results this past week. However, there’s still plenty more to come as several companies have yet to post their quarterly prints.
Against this backdrop, how are investors supposed to pinpoint stocks that are primed for more gains? One approach is to take a cue from the pros with a proven track record of success. TipRanks analyst forecasting service attempts to identify the best-performing analysts on the Street, or the analysts with the highest success rate and average return per rating. These metrics factor in the number of ratings each analyst has published.
Here are five stocks that top Wall Street analysts think can deliver more gains as earnings season continues.
Operating within the consumer, automotive, industrial, data center, telecommunications, aerospace and defense markets, Teradyne designs and distributes products to test semiconductor wafers and packaging processes and devices.
The company released its second-quarter earnings results on July 27, with the report garnering the praise of Rosenblatt Securities analyst Scott Graham. Putting it simply the analyst told investors, “We view this as a good print.”
On the heels of the earnings release, Graham reiterated a Buy rating on the stock. Additionally, the top analyst kept the price target at $180, reflecting a Street-high and indicating 47% upside potential.
What exactly did the print feature? Non-GAAP EPS beat the consensus estimate by 9%, with the figure clocking in at $1.91. This represents an increase of 44% on a year-over-year basis. It should be noted that Teradyne guided for EPS of $1.72 at the midpoint.