While Amazon (Nasdaq:AMZN) and Apple Inc. (Nasdaq:AAPL) have undeniably eclipsed the headlines this week, I took to the Street to shine the spotlight on other large-cap stocks ready for take-off.
Now let’s unravel what makes these 3 trending stocks so exciting right now:
Netflix (Nasdaq:NFLX)
Streaming giant Netflix is soaring right now. The company- which is dominating the field of online video- has seen its price explode from just $211 in January to $291 in April. This is on the back of blockbuster first quarter earnings. Indeed, Wedbush analyst Michael Pachter hailed the company’s first quarter earnings report a ‘bullish blowout quarter that included a best-ever rise in streaming revenue’.
JP Morgan Analyst Doug Anmuth recently hiked up Netflix’s price target forecast from $328 to $385 following ‘another impressive quarter’. He told investors that ‘Netflix’s content strength and the global, secular shift to Internet entertainment are driving subscriber upside’. Plus the company continues to execute “extremely well,” with Anmuth emphasizing its case as the best global, secular growth story in technology.
Despite the stellar revenue, Wedbush analyst Michael Pachter is ultimately cautious on Netflix. This is due to its growing ‘cash burn’ and a ‘need to raise subscription prices’. He says he expects Netflix ‘to burn cash for many years as it continues spending vast sums on content’.
Overall, our data shows that Netflix has a cautiously optimistic Moderate Buy analyst consensus rating. Out of 31 top analysts, 19 rate the stock a buy, while 12 rate the stock a hold. Analysts are, on average, forecasting 10.5% upside potential from the current share price.
Expedia (Nasdaq:EXPE)
International online travel specialist, Expedia Group is a major player in the hospitality, advertising and travel industries. In recent years the booking giant has expanded to provide services to consumers and corporate globetrotters alike through its travel business, Egencia.
