Top Stock to Buy #6 – Velti (VELT)
Velti (NASDAQ:VELT) is a leading global provider of mobile marketing and advertising that enables companies to implement campaigns by communicating through their mobile devices. Recent acquisitions and the creation of the Open Device Identification Number (ODIN) Working Group have brought Velti to the forefront of mobile advertising.
The company’s Q4 2011 earnings were 59 cents, which beat analysts’ estimates of 48cents. Analysts expect 73 cents in FY 2012.
The stock broke from a consolidation rectangle in January and established a trendline with support on its 50-day moving average. A golden cross was flashed in April, as well as a buy from the stochastic. The trading target for VELT is $18.