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This Analyst With 85% Accuracy Rate Sees Over 29% Upside In MongoDB - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts
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This Analyst With 85% Accuracy Rate Sees Over 29% Upside In MongoDB - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts
Jun 3, 2024 6:04 AM

U.S. stocks settled mostly higher on Friday, with the Dow Jones index recording its best session of the year.

However, U.S. stocks recorded losses last week, with the S&P 500 falling 0.51% and the Dow Jones index declining 0.98% during the week.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust.

Benzinga’s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.

Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga’s extensive database of analyst ratings is by analyst accuracy. Here’s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

Analyst: Matt Bryson

Analyst Firm: Wedbush

Ratings Accuracy: 87%

Latest Rating: Maintained a Neutral rating on NetApp, Inc. ( NTAP ) and raised the price target from $100 to $120 on May 28. This analysts sees around 1% downside in the stock.

Recent News: On May 30, NetApp ( NTAP ) posted better-than-expected quarterly earnings.

Analyst: Aaron Rakers

Analyst Firm: Wells Fargo

Ratings Accuracy: 87%

Latest Rating: Maintained an Overweight rating on Pure Storage, Inc. ( PSTG ) and increased the price target from $70 to $75 on May 30. This analyst sees around 23% upside in the stock.

Recent News: On May 29, Pure Storage ( PSTG ) posted better-than-expected first-quarter financial results.

Analyst: Howard Rubel

Analyst Firm: Jefferies

Ratings Accuracy: 86%

Latest Rating: Maintained a Buy rating on Booz Allen Hamilton Holding Corporation ( BAH ) and raised the price target from $180 to $185 on May 29. This analyst sees around 22% upside in the stock.

Recent News: On May 24, Booz Allen Hamilton ( BAH ) posted better-than-expected fourth-quarter earnings.

Analyst: Alex Rygiel

Analyst Firm: B. Riley Securities

Ratings Accuracy: 86%

Latest Rating: Maintained a Buy rating on Dycom Industries, Inc. ( DY ) and boosted the price target from $172 to $205 on May 31. This analyst sees about 14% gain in the stock.

Recent News: On May 22, Dycom Industries ( DY ) reported better-than-expected first-quarter financial results.

Analyst: William Power

Analyst Firm: Baird

Ratings Accuracy: 85%

Latest Rating: Maintained an Outperform rating on MongoDB, Inc. ( MDB ) and cut the price target from $450 to $305 on May 31. This analyst sees over 29% upside in the stock.

Recent News: On May 30, MongoDB ( MDB ) issued weak FY25 guidance.

Read More: Jim Cramer: Beyond Meat Is ‘Way Too Risky,’ Warby Parker Is ‘Alright To Buy‘

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