4 ‘Buy’ rated stocks for the remainder of 2022 with gains up to 101%

Goldman Sachs: 4 'Buy' rated stocks rising 101% for the remainder of 2022

Goldman Sachs: 4 ‘Buy’ rated stocks rising 101% for the remainder of 2022

Year after year, the Dow, S&P 500 and Nasdaq are all deep in the correction zone.

But Goldman Sachs still sees plenty of opportunities. In fact, the Wall Street firm has issued ‘buy’ ratings for multiple companies this year, moving in the opposite direction.

So look at the four stocks here Goldman Sachs Bullish On. Although these are volatile names, always do your own research before making an investment decision.

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Tesla

Tesla has been a favorite among investors. And it’s not hard to see why: electric car giant shares have returned 992% in the last five years.

While this means long-term investors are smiling all the way to the bank, it’s important to remember that big changes can happen on both sides.

In 2022, Tesla shares have already dropped by about 41%.

Still, Goldman is quite bullish on the company. In January, one of its analysts, Mark Delaney, announced Tesla as the top pick for 2022. He reiterated a buy rating of the company and raised its price target to $ 1,200

Considering Tesla’s share trading at around $ 709 at the moment, the price target indicates a reversal of 69%. “We believe that Tesla will be in the best position to capitalize on its long-term transition to a more comprehensive EV, with its leadership position at EV and its focus on clean transport,” Delaney wrote in a note to investors.

He is also optimistic about the company’s profitability and improvement in production figures.

In Q1, Tesla delivered 310,048 EVs, setting a new record.

“We expect Tesla to expand margins in the medium term as it ramps up important model Y products in Berlin, Germany and Austin, Texas as well as new factories and in the long run it will increase the software revenue mix.” The analyst added.

Snowflake

Many people think big data is the next big thing. And that’s where Snowflake found his chance.

Founded in 2012, the cloud-based data warehousing company serves thousands of customers across a wide range of industries, including 241 Fortune 500s.

Although shares of Snowflake fell a painful 57% in 2022, the company still manages a market cap of over 45 45 billion.

In the three months ended January 31, revenue rose 102% year-on-year to $ 359.6 million. Significantly, the net revenue retention rate was a solid 178%.

The company continues to score big customer wins. It now has 184 subscribers, with more than মাসের 1 million in 12-month product revenue, compared to 77 such subscribers a year ago.

Goldman Sachs recently lowered its Snowflake share price target to $ 289 but maintained its buy rating for the company.

Since Snowflake currently trades at around 3 143.50, the price target indicates a potential uptrend of 101%.

Match Group (MTCH) and Bumble (BMBL)

The home environment created by the epidemic has spurred the growth of several online dating companies. But that doesn’t mean they’re the darlings of the market right now.

Shares of Match Group – which includes a portfolio of brands including Tinder, Match and Hinge – have fallen 45% in the last 12 months. Bumble – the parent company of the Bumble and Badoo apps – has fallen more than 60% since the stock began trading in February.

But Goldman Sachs expects a rebound between the two names.

“Match Group and Bumble have outperformed the S&P 500 in ’21 and we see the current valuation as an interesting entry point in a multi-year compounding story,” wrote analyst Alexandra Steiger in January.

Stiger has upgraded both companies to buy from neutral.

He set a লক্ষ্য 157 price target for the match, which was later reduced to $ 152 – 95% higher than today’s stock. For Bumble, Steiger lowered its price target to $ 42 in March, signaling a rise of more than 46%.

Both companies have provided solid growth figures. In the first quarter of 2022, match group revenue grew 20% while bumble’s revenue grew 24%.

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