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Yahoo
02-05-2025
- Business
- Yahoo
Is Palantir Technologies Inc. (NASDAQ:PLTR) a Stock That Should Double in 3 Years?
We recently published a list of the 30 Stocks That Should Double in 3 Years. In this article, we are going to take a look at where Palantir Technologies Inc. (NASDAQ:PLTR) stands against other stocks that should double in 3 years. On April 25, Kari Firestone, Aureus Asset Management executive chairman and co-founder, joined CNBC's 'Squawk Box' to discuss the latest market trends and express how this is a reasonable place for long-term investors to enter the market. Despite persistent concerns about a recession coming from tariffs, Firestone thinks that corporate earnings have generally exceeded expectations. The strong performance of major tech companies has been a key driver behind the market's recent gains, such as those in the MAG7. Elaborating on the significance of these tech giants, Firestone also underscored that the top 2 companies in the S&P 500, regardless of which they are, match the market value of the bottom 300 companies in the index. This concentration means that these leading firms are fundamental to the US economy's progress. The conversation then addressed the impact of proposed FDA budget cuts on innovation for biotech companies. Firestone agreed that such cuts could slow down the approval process for new products and drug manufacturing, and she advised against reducing the FDA's budget. However, she believes that the market has already priced in these risks. She compared the situation to previous market overreactions, such as the 32% drop during the early COVID-19 period, which was followed by a rapid recovery. Firestone also concluded that the market is now fairly valued. Some sectors offer attractive opportunities due to recent price declines. She assessed the overall market valuation in light of tariff uncertainties and the recent rebound from a 20% drop to a current decline of about 10.5%. She explained that the market's price-to-earnings multiple has decreased from 22.5x next year's earnings to 18.5x, assuming no severe recession. She's confident that the market is unlikely to end the year lower than current levels and recommends that long-term investors enter the market at this stage. Firestone believes that the market has partially priced in the impact of tariffs. She estimated that a 5% to 10% tariff is reflected in current prices. While a full-blown recession may not be entirely priced in, a slowdown likely is. We sifted through financial media reports and Reddit threads to compile a list of the top 30 stocks that should double in 3 years. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A software engineer manipulating a vast network of code on virtual monitors. Number of Hedge Fund Holders: 64 Palantir Technologies Inc. (NASDAQ:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the US, the UK, and internationally. It provides different platforms, which include Palantir Gotham, Palantir Foundry, Palantir Apollo, and Palantir Artificial Intelligence Platform/AIP. On April 16, Morgan Stanley reiterated the stock as Equal Weight and lowered its price target to $90 from $95. The firm thinks that the company's technical capabilities allow customers to realize early success on its GenAI initiatives. In 2024, Palantir's US commercial sector grew by 54% year-over-year due to AIP and generated $702 million in revenue. In Q4 alone, the sector grew by 64%. The US commercial sector booked $803 million in Total Contract Value in Q4, which indicated a 134% year-over-year improvement. The customer base for this segment also jumped by 73%. Palantir projects US Commercial revenue to surpass $1.079 billion in 2025 at a 54% growth rate. To drive this, Palantir Technologies Inc. (NASDAQ:PLTR) is investing in technical talent and product development to remain at the forefront of the AI revolution. Alger Mid Cap Focus Fund stated the following regarding Palantir Technologies Inc. (NASDAQ:PLTR) in its Q4 2024 investor letter: 'Palantir Technologies Inc. (NASDAQ:PLTR) builds advanced platforms for data integration, management, and security, enabling interactive, AI-assisted analysis for its users. Its core offerings include Palantir Gotham, designed for government clients, and Palantir Foundry, tailored for commercial customers. Originally focused on U.S. intelligence agencies, Palantir has expanded into defense contracts with western governments and entered the commercial market in 2016. During the quarter, shares contributed to performance after the company reported better-than-expected fiscal third quarter operating results, along with management raising its full year 2024 revenue guidance. Management noted that the recent launch of its AI platform (AIP), which leverages generative AI to optimize business operations, has driven significant growth and investor interest. Additionally, we believe Palantir could be a key partner for the U.S. government's new Department of Government Efficiency (DOGE), as its AI-driven platforms are ideally suited to help identify inefficiencies, allocate resources effectively, and achieve cost reductions.' Overall, PLTR ranks 15th on our list of the stocks that should double in 3 years. While we acknowledge the growth potential of PLTR, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
02-05-2025
- Business
- Yahoo
Is Broadcom Inc. (NASDAQ:AVGO) a Stock That Should Double in 3 Years?
We recently published a list of the 30 Stocks That Should Double in 3 Years. In this article, we are going to take a look at where Broadcom Inc. (NASDAQ:AVGO) stands against other stocks that should double in 3 years. On April 25, Kari Firestone, Aureus Asset Management executive chairman and co-founder, joined CNBC's 'Squawk Box' to discuss the latest market trends and express how this is a reasonable place for long-term investors to enter the market. Despite persistent concerns about a recession coming from tariffs, Firestone thinks that corporate earnings have generally exceeded expectations. The strong performance of major tech companies has been a key driver behind the market's recent gains, such as those in the MAG7. Elaborating on the significance of these tech giants, Firestone also underscored that the top 2 companies in the S&P 500, regardless of which they are, match the market value of the bottom 300 companies in the index. This concentration means that these leading firms are fundamental to the US economy's progress. The conversation then addressed the impact of proposed FDA budget cuts on innovation for biotech companies. Firestone agreed that such cuts could slow down the approval process for new products and drug manufacturing, and she advised against reducing the FDA's budget. However, she believes that the market has already priced in these risks. She compared the situation to previous market overreactions, such as the 32% drop during the early COVID-19 period, which was followed by a rapid recovery. Firestone also concluded that the market is now fairly valued. Some sectors offer attractive opportunities due to recent price declines. She assessed the overall market valuation in light of tariff uncertainties and the recent rebound from a 20% drop to a current decline of about 10.5%. She explained that the market's price-to-earnings multiple has decreased from 22.5x next year's earnings to 18.5x, assuming no severe recession. She's confident that the market is unlikely to end the year lower than current levels and recommends that long-term investors enter the market at this stage. Firestone believes that the market has partially priced in the impact of tariffs. She estimated that a 5% to 10% tariff is reflected in current prices. While a full-blown recession may not be entirely priced in, a slowdown likely is. We sifted through financial media reports and Reddit threads to compile a list of the top 30 stocks that should double in 3 years. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A technician working at a magnified microscope, developing a new integrated circuit. Number of Hedge Fund Holders: 161 Broadcom Inc. (NASDAQ:AVGO) is a technology company that manufactures and supplies a range of semiconductor, enterprise software, and security solutions. The company is making moves to advance its innovative solution. Broadcom recently introduced new innovative technologies such as advancements in co-packaged optics (CPO), 200G/lane DSP and SerDes, 400G optics, and PCIe Gen6 over optics. These solutions help grow and scale AI clusters as well as meet the increasing demands of AI workloads that require higher bandwidth, lower latency, and more power-efficient optical interconnects. On April 22, Barclays analyst Tom O'Malley lowered the price target on the stock to $215 from $260, while keeping an Overweight rating. This adjustment came from Barclays' updates on semiconductor and semiconductor capital equipment models to reflect tariffs and the trade war ahead of Q1 2025 earnings. However, Broadcom exceeded January quarter estimates and now provides strong April quarter projections. Mar Vista US Quality Select Strategy maintains a positive long-term outlook on the company and stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its Q1 2025 investor letter: 'We maintain a positive outlook on Broadcom Inc. (NASDAQ:AVGO) shares, despite recent stock price pressure stemming from two key concerns: (1) uncertainty around potential tariffs and the impact on global growth, and (2) investor skepticism regarding the return profile of large-scale AI capex investments by hyperscalers. This skepticism has been amplified by the efficiency gains recently demonstrated by DeepSeek, an unknown Chinese software company, which developed a competitive large language model at a much lower cost. These efficiency gains stoked fears that hyperscalers may have overbuilt AI infrastructure. Overall, AVGO ranks 7th on our list of the stocks that should double in 3 years. While we acknowledge the growth potential of AVGO, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AVGO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
Is Nerdwallet, Inc. (NRDS) A Stock That Should Double in 3 Years?
We recently published a list of the 30 Stocks That Should Double in 3 Years. In this article, we are going to take a look at where Nerdwallet, Inc. (NASDAQ:NRDS) stands against other stocks that should double in 3 years. On April 25, Kari Firestone, Aureus Asset Management executive chairman and co-founder, joined CNBC's 'Squawk Box' to discuss the latest market trends and express how this is a reasonable place for long-term investors to enter the market. Despite persistent concerns about a recession coming from tariffs, Firestone thinks that corporate earnings have generally exceeded expectations. The strong performance of major tech companies has been a key driver behind the market's recent gains, such as those in the MAG7. Elaborating on the significance of these tech giants, Firestone also underscored that the top 2 companies in the S&P 500, regardless of which they are, match the market value of the bottom 300 companies in the index. This concentration means that these leading firms are fundamental to the US economy's progress. The conversation then addressed the impact of proposed FDA budget cuts on innovation for biotech companies. Firestone agreed that such cuts could slow down the approval process for new products and drug manufacturing, and she advised against reducing the FDA's budget. However, she believes that the market has already priced in these risks. She compared the situation to previous market overreactions, such as the 32% drop during the early COVID-19 period, which was followed by a rapid recovery. Firestone also concluded that the market is now fairly valued. Some sectors offer attractive opportunities due to recent price declines. She assessed the overall market valuation in light of tariff uncertainties and the recent rebound from a 20% drop to a current decline of about 10.5%. She explained that the market's price-to-earnings multiple has decreased from 22.5x next year's earnings to 18.5x, assuming no severe recession. She's confident that the market is unlikely to end the year lower than current levels and recommends that long-term investors enter the market at this stage. Firestone believes that the market has partially priced in the impact of tariffs. She estimated that a 5% to 10% tariff is reflected in current prices. While a full-blown recession may not be entirely priced in, a slowdown likely is. We sifted through financial media reports and Reddit threads to compile a list of the top 30 stocks that should double in 3 years. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A digital platform displaying a range of financial products and services. Number of Hedge Fund Holders: 22 Nerdwallet, Inc. (NASDAQ:NRDS) operates a digital platform that provides financial guidance to consumers and small and mid-sized businesses (SMB) in the US, the UK, Australia, and Canada. The NerdWallet app delivers various financial products, such as credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans. In Q4 2024 alone, the company's Insurance revenue surged by 821% year-over-year to $72 million. This growth was attributed to consistent improvements in demand from both consumers and partners. For the full year 2024, the Insurance vertical generated $192 million in revenue, which was up 326%. However, other revenue-generating segments at NerdWallet (NASDAQ:NRDS) declined in Q4. For instance, Credit card revenue declined by 19% to $35 million. Despite these drops, the company was able to make a total revenue of $183.80 million in Q4, which was up 37.47%. While Nerdwallet, Inc. (NASDAQ:NRDS) anticipates growth in the Insurance segment during H1 2025, the company expects to face tougher year-over-year comparisons in H2 of the year. Overall, NRDS ranks 27th on our list of the stocks that should double in 3 years. While we acknowledge the growth potential of NRDS, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NRDS but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
Is Apple Inc. (AAPL) A Stock That Should Double in 3 Years?
We recently published a list of the 30 Stocks That Should Double in 3 Years. In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against other stocks that should double in 3 years. On April 25, Kari Firestone, Aureus Asset Management executive chairman and co-founder, joined CNBC's 'Squawk Box' to discuss the latest market trends and express how this is a reasonable place for long-term investors to enter the market. Despite persistent concerns about a recession coming from tariffs, Firestone thinks that corporate earnings have generally exceeded expectations. The strong performance of major tech companies has been a key driver behind the market's recent gains, such as those in the MAG7. Elaborating on the significance of these tech giants, Firestone also underscored that the top 2 companies in the S&P 500, regardless of which they are, match the market value of the bottom 300 companies in the index. This concentration means that these leading firms are fundamental to the US economy's progress. The conversation then addressed the impact of proposed FDA budget cuts on innovation for biotech companies. Firestone agreed that such cuts could slow down the approval process for new products and drug manufacturing, and she advised against reducing the FDA's budget. However, she believes that the market has already priced in these risks. She compared the situation to previous market overreactions, such as the 32% drop during the early COVID-19 period, which was followed by a rapid recovery. Firestone also concluded that the market is now fairly valued. Some sectors offer attractive opportunities due to recent price declines. She assessed the overall market valuation in light of tariff uncertainties and the recent rebound from a 20% drop to a current decline of about 10.5%. She explained that the market's price-to-earnings multiple has decreased from 22.5x next year's earnings to 18.5x, assuming no severe recession. She's confident that the market is unlikely to end the year lower than current levels and recommends that long-term investors enter the market at this stage. Firestone believes that the market has partially priced in the impact of tariffs. She estimated that a 5% to 10% tariff is reflected in current prices. While a full-blown recession may not be entirely priced in, a slowdown likely is. We sifted through financial media reports and Reddit threads to compile a list of the top 30 stocks that should double in 3 years. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A wide view of an Apple store, showing the range of products the company offers. Number of Hedge Fund Holders: 166 Apple Inc. (NASDAQ:AAPL) designs and sells consumer electronics, software, and services. It's known for its line of iPhones, iPads, Macs, Apple Watches, and AirPods. The company has a vertically integrated model and a vast network of financially potent users that have potential for upselling and cross-selling opportunities, such as the App Store, iCloud, Apple Music, and Apple TV+ services. Erik Woodring from Morgan Stanley lowered his iPhone shipment estimates for 2025-2026 by 1% to 5% because of delayed releases at the company. Since June 2024, many features planned for release in April with iOS 18.4 in 2025 have been postponed. The company now aims to fix these issues by 2026. On April 22, Morgan Stanley reiterated the stock as Overweight with a $220 price target. The firm said its survey checks screen positive for Apple regardless of a rough backdrop. Apple Inc. (NASDAQ:AAPL) is best known for its iPhone product cycle, with 52% of its revenue coming from this product line. The company has over 2.2 billion devices on sale, and the next target is now to integrate AI to strengthen these service offerings. The company's AI strategy, mainly Apple Intelligence, is driving customer interest, with expectations high for the yet-to-launch iPhone 17 series. Columbia Seligman Global Technology Fund maintained its position in the company and stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q4 2024 investor letter: 'The fund maintained a position in Apple Inc. (NASDAQ:AAPL) throughout the quarter through the release of the company's new iPhone 16 in September. Company leaders were excited about the release of the new model, as this is the first model that will feature enhanced AI capabilities through the Apple Intelligence features. Sales for the first few weeks in October and November trailed behind year over year sales from the iPhone 15, as availability of Apple Intelligence was not compatible with all iPhone models. Apple announced a partnership with OpenAI that has allowed the integration of ChatGPT into the Apple ecosystem, separate from the core Apple Intelligence features. This partnership highlights continued progress from Apple to introduce AI capabilities into its products and we expect the iPhone 17 to have even more expansive AI capabilities, increasing potential demand for the new model that is on track to be released in 2025.' Overall, AAPL ranks 6th on our list of the stocks that should double in 3 years. While we acknowledge the growth potential of AAPL, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AAPL but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
Is MercadoLibre, Inc. (MELI) A Stock That Should Double in 3 Years?
We recently published a list of the 30 Stocks That Should Double in 3 Years. In this article, we are going to take a look at where MercadoLibre, Inc. (NASDAQ:MELI) stands against other stocks that should double in 3 years. On April 25, Kari Firestone, Aureus Asset Management executive chairman and co-founder, joined CNBC's 'Squawk Box' to discuss the latest market trends and express how this is a reasonable place for long-term investors to enter the market. Despite persistent concerns about a recession coming from tariffs, Firestone thinks that corporate earnings have generally exceeded expectations. The strong performance of major tech companies has been a key driver behind the market's recent gains, such as those in the MAG7. Elaborating on the significance of these tech giants, Firestone also underscored that the top 2 companies in the S&P 500, regardless of which they are, match the market value of the bottom 300 companies in the index. This concentration means that these leading firms are fundamental to the US economy's progress. The conversation then addressed the impact of proposed FDA budget cuts on innovation for biotech companies. Firestone agreed that such cuts could slow down the approval process for new products and drug manufacturing, and she advised against reducing the FDA's budget. However, she believes that the market has already priced in these risks. She compared the situation to previous market overreactions, such as the 32% drop during the early COVID-19 period, which was followed by a rapid recovery. Firestone also concluded that the market is now fairly valued. Some sectors offer attractive opportunities due to recent price declines. She assessed the overall market valuation in light of tariff uncertainties and the recent rebound from a 20% drop to a current decline of about 10.5%. She explained that the market's price-to-earnings multiple has decreased from 22.5x next year's earnings to 18.5x, assuming no severe recession. She's confident that the market is unlikely to end the year lower than current levels and recommends that long-term investors enter the market at this stage. Firestone believes that the market has partially priced in the impact of tariffs. She estimated that a 5% to 10% tariff is reflected in current prices. While a full-blown recession may not be entirely priced in, a slowdown likely is. We sifted through financial media reports and Reddit threads to compile a list of the top 30 stocks that should double in 3 years. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A customer using their phone to access an online commerce platform. Number of Hedge Fund Holders: 96 MercadoLibre, Inc. (NASDAQ:MELI) is an online commerce platform that operates Mercado Libre Marketplace, which is an online commerce platform that can be accessed through the mobile app or website. It also operates Mercado Pago, which is a financial technology solution platform. In 2024, the company expanded its credit card business and issued 5.9 million new credit cards, which doubled its existing credit portfolio. The Mercado Pago platform also achieved 60 million monthly active users this year. MercadoLibre is now optimizing payment processing times for its POS devices. Furthermore, the company's advertising revenue grew 37% year-over-year in 2024. On April 7, Bloomberg reported that MercadoLibre, Inc. (NASDAQ:MELI) plans to increase its investment in Brazil by 48% to invest ~$5.8 billion in 2025. This investment will enhance the company's logistics, technology, marketing, and financial capabilities and allow MercadoLibre to increase its staff in Brazil by 14,000 to reach a total of 50,000 employees. Lakehouse Global Growth Fund highlighted the company's significant future potential and stated the following regarding MercadoLibre, Inc. (NASDAQ:MELI) in its February 2025 investor letter: 'The Funds largest position, e-commerce leader MercadoLibre, Inc. (NASDAQ:MELI), delivered another impressive quarterly result, combining robust growth with improving profitability. Net revenue grew 37% year-on-year in U.S. dollar terms to $6.1 billion while operating margins climbed to 13.5%, which was particularly pleasing given the company remains firmly in reinvestment mode. Key operational metrics for its marketplace underscored this strength, with items sold increasing 27%, unique buyers climbing 24% to a new high of 67 million and items per buyer increasing to 7.8. Importantly, the company continues to gain incremental market share in its primary regions, namely that of Brazil and Mexico. Overall, MELI ranks 10th on our list of the stocks that should double in 3 years. While we acknowledge the growth potential of MELI, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MELI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
