One of the top stock picks recommended by Wall Street analysts is Monday.com, a workplace management software maker. The company recently reported impressive first-quarter results, which led to Goldman Sachs analyst Kash Rangan reiterating a buy rating on Monday.com stock and increasing the price target to $300 from $270. Despite the post-earnings rally, Rangan believes that the stock is undervalued and sees great potential in the company’s growth prospects. He praised Monday.com for its visibility into improving net expansion rate, growing momentum in the enterprise, strong performance in small and medium-sized businesses, and healthy free cash flow margin. Rangan expects the rate of revenue deceleration to moderate and believes that Monday.com’s unified platform will support long-term revenue growth. Overall, Rangan ranks No. 388 among analysts tracked by TipRanks and has a success rate of 60%.
Another favored stock pick is big-box retailer Walmart, which recently delivered better-than-expected revenue and earnings for the first quarter of fiscal 2025. Baird analyst Peter Benedict reaffirmed a buy rating on Walmart stock and increased the price target to $70 from $65. Benedict commended Walmart’s focus on value and convenience, which continues to attract a wide range of customers, including higher-income households. He highlighted the company’s alternative revenue streams, such as advertising, marketplace, fulfillment services, data monetization, and Walmart+, which carry higher margins and complement its core retail business. Benedict estimates that these alternative streams generate about $7 billion in revenue and expects them to be vital margin drivers for Walmart’s future growth. With a success rate of 69%, Benedict ranks No. 68 among analysts tracked by TipRanks.
Finally, the cybersecurity company CyberArk is also recommended by analysts after announcing an agreement to acquire machine identity management provider Venafi for $1.54 billion. TD Cowen analyst Shaul Eyal reiterated a buy rating on CyberArk stock with a price target of $300, following the news of the acquisition. Eyal expressed confidence in CyberArk’s management team and their ability to integrate acquisitions effectively. He believes that the Venafi deal will expand CyberArk’s total addressable market by about $10 billion and expects significant revenue synergies through cross-selling and geographic expansion. Eyal highlighted that CyberArk’s 8.8K existing customers provide ample opportunities for upselling and cross-selling Venafi’s solutions. With a success rate of 68%, Eyal holds the 15th position among analysts tracked by TipRanks.
Investors looking for stock recommendations can consider Monday.com, Walmart, and CyberArk based on the insights provided by top Wall Street analysts. These companies have shown strong performance and growth potential, making them attractive investment opportunities for those with a long-term investment horizon. Investors should conduct further research and due diligence before making any investment decisions.