Jefferies analyst, Brent Thill has identified three technology companies as having attractive valuations and above-average potential. These companies are Meta Platforms, Uber Technologies, and Alphabet and all of them received “Buy” ratings from the bank’s analysts.
Meta Platforms
Meta Platforms, founded by Mark Zuckerberg, is a social networking company and its stock has seen an almost 4% increase since the beginning of the year. Jefferies analyst Brent Thill has maintained his $155 price target on the stock, which corresponds to an upside potential of around 20%. Thill believes that the company is undervalued, as it is currently trading at a low price-to-earnings ratio of 16 for 2023. He also expects the company to cut costs more in the coming year.
44 analysts forecasts on Meta Platforms Inc., have an average target price of USD 178.23 for the next 12 months. The analysts have a “Strong Buy” rating on the stock. Furthermore, the Stock Target Advisor’s own analysis has a Bullish outlook on the stock, citing 10 positive signals and 4 negative signals. At the time of the statement, Meta Platforms Inc.’s stock price was at USD 129.47, and in the past week, month, and year, the stock has changed by +7.59%, +11.71%, and +816.28% respectively.
Alphabet Inc.
Alphabet, the parent company of Google, has seen its stock price decrease by more than 40% from Thill’s target price of $125. He believes that the company will bounce back from this slump due to an increase in advertising budgets. He also expects the company to make extensive layoffs, which will improve profit margins.
According to 35 analysts forecasts on Alphabet Inc Class A, they have an average target price of USD 134.28 for the next 12 months. The analysts have a Strong Buy rating on the stock. However, the Stock Target Advisor’s own analysis has a slightly Bullish outlook on the stock, citing 9 positive signals and 4 negative signals. At the time of the statement, Alphabet Inc Class A’s stock price was at USD 88.02, and in the past week, month, and year, the stock has changed by -0.24%, -5.18%, and -35.76% respectively.
Uber Technologies
Uber Technologies, on the other hand, has seen its target price reduced from $50 to $38 by Jefferies. The stock is currently trading at $27. However, Thill believes that demand for ride-hailing and food delivery services will grow at around 19% per year, which will significantly benefit the company.
According to 19 analysts forecasts on Uber Technologies Inc, they have an average target price of USD 45.35 in the next 12 months. The analysts have a Strong Buy rating on the stock. However, the Stock Target Advisor’s own analysis has a Bearish outlook on the stock, citing 1 positive signal and 6 negative signals. At the time of the statement, Uber Technologies Inc’s stock price was at USD 27.40, and in the past week, month, and year, the stock has changed by +10.80%, +3.20%, and -33.99% respectively.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
