Top 2 Growth Stocks to Consider for Potential 56% and 60% Upside

Saturday, 16 March 2024, 09:45

Discover the growth potential of Roku and Salesforce highlighted by Wall Street analysts. With targets indicating a 56% and 60% upside, consider the strong competitive positions and reasonable valuations of these stocks. Investors should weigh the risks and opportunities presented by these potential winners in the streaming platform and CRM software markets.
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Top 2 Growth Stocks to Consider for Potential 56% and 60% Upside

Roku

If these Wall Street analysts are correct, significant gains await Roku shareholders. The U.S. stock market has sailed higher over the past year, but Wall Street still sees buying opportunities. JPMorgan analyst Cory Carpenter has given Roku (NASDAQ: ROKU) a target of $100 per share, implying a 56% upside from its current price.

  • Roku reported disappointing financial results in the fourth quarter.
  • Roku is the leading streaming platform in the U.S. and Mexico.
  • Investors should monitor average revenue per user in the coming quarters.

Salesforce

Salesforce is the market leader in customer relationship management (CRM) software. Its platform includes applications that help sales, marketing, commerce, and customer service teams work more productively. Morgan Stanley analyst Keith Weiss has set a bull-case target of $485 per share for Salesforce (NYSE: CRM), implying a 60% upside from its current price.

  1. Salesforce reported solid fourth-quarter financial results.
  2. Grand View Research estimates that CRM spending will increase by 14% annually through 2030.
  3. Salesforce offers "the most comprehensive and feature-rich" CRM platform for medium-sized businesses and large enterprises.

Investors should consider buying a small position today, but not with the expectation of a 60% return in the next year. Salesforce is best viewed as a long-term investment, meaning investors should plan to hold for at least three to five years.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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