Many stocks seem to be taking a break after a long bull run. This video hasn't loaded, so we apologize for it.
Click here to see other videos from our team. If you refresh your browser, or Goldman Sachs is bullish on 3 tech stocks with up to 173 per cent upside Several high-flying tech stocks have already entered correction territory. Could this be a buy the dip opportunity for investors who were previously on the sideline? Many companies are worth buying at their current prices, according to Goldman Sachs. Here is a look at three stocks that recently received buy ratings from the Wall Street giant. You may want to pounce on one of the others with some extra cash. Chipmakers are firing on all cylinders this year, and Marvell Technology has enjoyed a nice rally. Shares of Wilmington, Del. were traded from May to November. The semiconductor company climbed a whopping 60 per cent.
It could just be a start. Marvell reported third-quarter earnings on December 2. Revenue for the quarter grew by 61 per cent year-over-year to US $1.21 billion. Earnings per share went up 72 per cent from a year ago to US $0.43. A nice post-earnings pop brought Marvell's share price to about US $84. Goldman Sachs sees more upside ahead. The bank upgraded Marvell from neutral to buy on December 3 and raised its price target to US $95. Big data is considered to be the next big thing. Snowflake found the opportunity there. A cloud-based data warehousing company, founded in 2012, serves thousands of customers across a wide range of industries, including 223 of the Fortune 500.
Snowflake has received more investor attention and now has a market cap of over $100 billion. Revenue surged 110 per cent year-over-year, to US $334.4 million in the three months ended October 31, according to the three months ended October 31. Net revenue retention rate was a solid 173 per cent. The company had a lot of customer wins. It now has 148 customers with a trailing 12 month product revenue of more than US $1 million, compared to 65 such customers a year ago. Goldman Sachs raised its price target on Snowflake from US $340 to US $390 last week and maintained its buy rating for the company. Snowflake recently traded at between US $340 and US $360 per share. You can get a piece of the company using a popular stock trading app that allows you to buy fractions of shares with as much money as you want to spend.
Weave Communications has a market cap of roughly US $1 billion, and is much smaller than the names mentioned above. According to Goldman, it could be one of the biggest opportunities in the market. Weave is a one-in-one customer communications platform for small businesses. The platform helps businesses connect with customers to grow their business. The company went public on November 11 at an IPO price of $24 per share. The stock didn't pick up much upward momentum. It is at US $13.54 today. In Q 3, Weave added 1,326 new customer locations, bringing its total sites to 22,553. Revenues were up 42 per cent year-over-year.
Goldman started coverage of Weave on December 6 with a buy rating and a US $37 price target, saying that the current share price is a compelling entry point. The price target of Goldman translates to a potential upside of 173 per cent, based on where Weave stock is at right now. If you don't want to pick individual stocks in today's volatile market, you can always build a diversified portfolio by using your extra cash Big upside outside of the stock market? Stocks are volatile at the end of the day. Wall Street experts are not right 100 per cent of the time. If you want to invest in something that has little correlation with the ups and downs of the stock market, look at alternative assets like fine art or commercial real estate. Traditionally, these types of investments were only options for the ultra rich. It's time to get a share of a rent-earning property on a work of art. This article was created by Wise Publishing. Wise is dedicated to providing information that helps readers navigate the complex landscape of personal finance. Wise partners with brands it trusts and believes may be helpful to the reader. The article is not intended to be construed as advice. It is provided without any warranty of any kind.