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Baird Picks Amazon, Meta, Zynga As Top Internet Picks For 2022

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·1 min read
In this article:
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  • Internet investors remain primarily focused on shorter-term trends, near-term growth comps, and macro influences, rather than secular growth drivers, heading into 2022, Baird analyst Colin Sebastian tells.

  • Sebastian assumes that forward-year growth comps and margin trends will mainly drive near-term sentiment and less by the size of total addressable markets or secular growth themes.

  • With this in mind, Sebastian transitioned his large-cap pick from Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) to Amazon.com Inc (NASDAQ: AMZN) and Meta Platforms Inc (NASDAQ: FB).

  • Sebastian also changed his top small/mid-cap picks from ChannelAdvisor Corp (NYSE: ECOM), Carvana Co (NYSE: CVNA), and Take-Two Interactive Software Inc (NASDAQ: TTWO) to Zynga Inc (NASDAQ: ZNGA).

  • Additionally, Sebastian warmed to a few others, including Twitter Inc (NYSE: TWTR) and Vroom Inc (NASDAQ: VRM).

  • For Meta, Sebastian expects more positive commentary on core advertising trends in 2022.

  • On Amazon, he says the company is a crucial beneficiary of digital transformation and a mix shift towards recurring revenues.

  • For Zynga, Sebastian sees potential positive catalysts from easing Identifier for Advertisers headwinds and ramping monetization of new titles.

  • Price Action: AMZN shares traded higher by 0.20% at $3,420 in the premarket session on the last check Wednesday.

Latest Ratings for AMZN

Oct 2021

RBC Capital

Maintains

Outperform

Oct 2021

Mizuho

Maintains

Buy

Oct 2021

Credit Suisse

Maintains

Outperform

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

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