The 5 Best Growth Stocks In Tech For 2018

The screener allows investors to filter tickers according to a range of unique options, including “strong buy” analyst consensus rating. This option only selects stocks which have the seal of approval from the Street based on the latest analyst ratings. From the results I extracted the most compelling tech growth stocks with big upside potential. Now let’s delve deeper into our five top stock picks for your 2018 portfolio. If I had to pick one key stock to bet on for 2018, Micron Technology, Inc. (NASDAQ:MU) could well be it.
This booming semiconductor stock has already soared by nearly 140% in the last year. 2.25 billion of debt well ahead of time. And luckily for investors, analysts are predicting that MU still has a great run ahead. In the last three months, MU has received 22 buy ratings and just two hold ratings from the Street.
50.39 — over 20% upside from the current share price. Note that this is just the average price target from all analysts covering the stock. Several top analysts have published more bullish predictions. Take, for example, top Barclays analyst Blayne Curtis. 60 (48% upside potential). DRAM prices “continue to improve at a strong pace” while supply constraints for NAND should continue into the second half of next year. Curtis pins this on the “insatiable demand” for flash from data center customers. If you are still feeling dubious, take into account Curtis’ track record on MU stock.
TipRanks shows that across his 12 Micron ratings, Curtis has a very impressive 100% success rate and 85% average return. 76) comes from Needham’s Rajvindra Gill — who also boasts a very strong track record. He says “We don’t believe we are at the peak of the cycle as end markets for DRAM are significantly more diverse than in years past; stabilizing the volatility of the pricing and perhaps lengthening the contracts.
Criteo SA (ADR) (NASDAQ:CRTO) is one of the few bright lights in the ad tech space. Even if you haven’t heard of Criteo you have no doubt seen its work. Criteo is the name behind the online ads that relentlessly pop up to remind you of previously viewed products. This “Strong Buy” stock claims it has a 90% customer retention rate and has become a nearly two billion dollars revenue business.
Shares have seen some volatility recently following news that Apple Inc. (NASDAQ:AAPL) is planning to roll out a new feature that disables third-party tracking cookies. A subsequent Gotham City Research report accused the company’s workaround of involving “illegal and harmful” practices. However, Criteo has hit back, saying it “has been open with our clients about this solution, which provides full transparency and control to Safari users” and notes that it gives users two chances to remove the tracking.
Clearly, top BMO Capital analyst Daniel Salmon is unconcerned by the Gotham report. 70 price target on the stock on Oct. 16. The price target — Criteo’s highest — suggests the stock has 48% upside potential from the current share price. And it comes from a top analyst (ranked No. 314 out of 4,695 analysts on TipRanks). Overall, Criteo has received eight buy ratings and two hold ratings in the last three months.
One of these buy ratings is from KeyBanc analyst Andy Hargreaves. He is a big fan of the company’s new Commerce Marketing Platform. This innovative new tool aggregates online and offline data across partners to form a “Shopper Graph.” According to Hargreaves this new product can deepen Criteo’s “moat” and solidify its partnerships. 62 price target on the stock. Hargreaves calls the Apple cookie issue transitory.
Social media giant Facebook, Inc. (NASDAQ:FB) is looking pretty unstoppable right now. Top RBC capital analyst Mark Mahaney makes an interesting observation based on FB’s trading patterns. He notes that Facebook is currently trading 9% below its historical forward average. This is in stark contrast to stocks like Alphabet Inc (NASDAQ:GOOG, NASDAQ:GOOGL) and Netflix, Inc. (NASDAQ:NFLX) that are actually trading above their historical forward averages. The conclusion: compared to many large-cap internet stocks, FB has space to grow over the next year.
