5 Stocks To Buy As They Touch New All-Time Highs
After a positive start to the week, stocks looked to continue rebounding on Tuesday morning as investors attempt to shrug off fears of an impending trade war. But early trading hours proved to be a rollercoaster ride, suggesting that intraday volatility is still present this week.
Nevertheless, several notable companies are surging to new highs. Netflix NFLX continued its remarkable run, while Micron MU surged to levels it has not seen since the early 2000s. Meanwhile, Baozun BZUN skyrocketed to a new peak and lifted the entire Chinese internet market.
Several of the companies climbing to fresh highs on Tuesday morning are also currently sporting strong Zacks Ranks, which means they could be poised to move even higher in the coming months.
Check out these five buy-ranked stocks that just hit all-time highs today:
1. Hewlett Packard Enterprise HPE
Shares of Hewlett Packard Enterprise gained as much as 1% to touch a new all-time high of $19.28 on Tuesday morning. The stock is comfortably at its post-spinoff peak on the back of a strong earnings report just two weeks ago. HPE has moved about 17% higher since that announcement, and the company’s positive outlook was enough to inspire upward estimate revisions and earn the stock a Zacks Rank #2 (Buy). HPE also sports a “B” grade for Momentum in our Style Scores system.
2. Broadridge Financial Solutions BR
Broadridge is a global fintech leader, providing communications and tech solutions to financial services companies. Shares of the firm fell flat after a brief morning surge, but the stock did touch a new all-time intraday high of $104.33 per share. BR is currently sporting a Zacks Rank #1 (Strong Buy) after its better-than-expected earnings report last month. Broadridge is also holding an “A” grade for Growth.
3. Conduent Inc. CNDT
Conduent is a business process services company that helps organizations improve interactions with customers and employees. Shares of CNDT moved as much as 3% higher to hit a new all-time high of $20.32 in early morning trading. The stock currently has a Zacks Rank #1 (Strong Buy), and the Zacks Consensus Estimate for the company’s full-year earnings has gained eight cents over the past 60 days. Analysts now expect Conduent to see EPS growth of 28% this fiscal year.
4. Salesforce.com CRM
Customer relations software giant Salesforce has been trading near its all-time peak since topping earnings estimates last week. CRM climbed again on Tuesday morning to touch a new intraday high of $124.35 per share. The company’s recent report was also enough to bring in positive estimate revisions, lifting the stock to a Zacks Rank #2 (Buy). Salesforce is now up more than 50% over the past year.
5. Fortinet FTNT
Cybersecurity powerhouse Fortinet has moved about 16% higher in the month since its latest earnings report. The stock gained again in Tuesday morning trading, touching a new all-time high of $51.37 per share in early hours. FTNT is currently sporting a Zacks Rank #2 (Buy), as well as an “A” grade for Momentum. Fortinet is also expected to witness EPS growth of 37% in its current fiscal year.
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Fortinet, Inc. (FTNT) : Free Stock Analysis Report
Hewlett Packard Enterprise Company (HPE) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
Baozun Inc. (BZUN) : Free Stock Analysis Report
Salesforce.com Inc (CRM) : Free Stock Analysis Report
Micron Technology, Inc. (MU) : Free Stock Analysis Report
Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
Conduent Inc. (CNDT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
