SIOUX FALLS, S.D., June 29, 2021 /PRNewswire-PRWeb/ -- MarketBeat, a leading source for stock market data and research tools, published its monthly list of The 10 Most Upgraded Stocks by Wall Street Analysts in May 2021 today.
Each year, MarketBeat tracks more than 160,000 distinct ratings and recommendations issued by Wall Street analysts who study publicly-traded companies for their institutional clients. These rankings are based on the number of times a publicly traded stock was upgraded or had its price target increased by Wall Street analysts in the month of May. MarketBeat All-Access subscribers can use MarketBeat's Most-Upgraded Stocks Report to identify these companies and segment them by country, market cap, sector, and industry.
"Cutting through the noise can be tough for investors, which is why MarketBeat focuses on maintaining a crystal clear picture of the investment marketplace for our subscribers," said MarketBeat founder and CEO Matt Paulson. "I'm confident this report will help our current, and future subscribers discover the value of the tools available at their fingertips and the real-time data that powers them."
The Top Ten Most Upgraded Stocks on MarketBeat in May 2021 are:
1. Biogen (NASDAQ:BIIB) - Biogen started to soar in early June after the U.S. Food & Drug Administration (FDA) approved its experimental Alzheimer's drug, aducanumab.
2. Adobe (NASDAQ:ADBE) – The prevalence of cloud computing gave the creative software company a second wind. And as our Thomas Hughes wrote, after a stellar earnings report, 14 analysts issued positive commentary about ADBE stock.
3. Costco (NASDAQ:COST) – Costco continues to post strong numbers despite concerns that the company may face tough comparisons to last year's pandemic-fueled earnings. However, the warehouse club is showing substantial retention numbers and is widely expected to issue a price increase sometime in 2021.
4. Ulta Beauty (NASDAQ:ULTA) – Since May, 12 analysts have issued upgrades on ULTA stock on expectations that the stock will be a winner as the economy reopens. So far, that's a narrative playing out as Ulta Beauty is up over 15% in 2021.
5. Intuit (NASDAQ:INTU) – 11 analysts have recently given the stock a price upgrade. And many of those upgrades suggest a significantly higher price for the stock. One reason for optimism is the company's shift to a cloud-based subscription model, which is expected to stabilize revenues in the short term.
6. Nvidia (NASDAQ:NVDA) – Nvidia has been on a tear since the onset of the pandemic. The company saw demand for its graphic processing units (GPUS) as the video game market revved up.
7. Marvell Technology (NASDAQ:MRVL) – Another semiconductor making this list is Marvell Technology. 11 analysts have recently issued upgrades on MRVL stock, and most upgrades show that there's plenty of upside for the stock.
8. Seagate Technology (NASDAQ:STX) – Seagate Technology is a data storage company that is up over 67% in the past 12 months. Specifically, Seagate is one of the largest hard disk drive (HDD) makers in the world.
9. Broadcom (NASDAQ:AVGO) – Broadcom stock has tried the patience of investors in 2021. Nevertheless, the stock benefits from 10 recent analyst upgrades primarily due to the expected strength in the semiconductor sector.
10. Oracle (NYSE:ORCL) – ORCL stock has dropped over 8% in the days after the earnings report as investors take profits with a continued wait-and-see approach. Analysts are more bullish, with nine analysts giving the stock an upgrade.
Find the full report at marketbeat.com.
About MarketBeat
MarketBeat is a financial media company based in Sioux Falls, South Dakota. MarketBeat's mission is to empower individual investors to make better trading decisions by providing real-time financial information and objective market research. More than 2.3 million investors receive MarketBeat's flagship newsletter, MarketBeat Daily Ratings. MarketBeat also publishes a network of financial news websites, including insidertrades.com and pricetargets.com, which garner more than 25 million pageviews each month, a suite of web-based investment research software called MarketBeat All Access, and a mobile stock research app on iOS and Android. For more information, visit marketbeat.com.
Media Contact
Ngoc Thach, MarketBeat, +1 (605) 940-8824, [email protected]
SOURCE MarketBeat
Share this article