Right now is an exciting time for tech stocks. Not only is the sector flying right now — the Vanguard Information Technology ETF (NYSEARCA:VGT) is up 20% year-to-date to more than double the market — but investors have a number of industry conferences to track. We wanted to give an overview of some of the most interesting insights that have come out of conferences past, present and future.
Which tech stocks are the Street’s best analysts recommending now? Using TipRanks, we were able to only scan for recommendations from top-ranked analysts that consistently outsmart the market. These are the analysts we hope investors can trust.
Let’s take a closer look at some of the most recent tech conferences, and some of the best ideas that came out of them:
Past Conferences: Alphabet (GOOGL), Talend SA (TLND)
Alphabet Inc (NASDAQ:GOOGL) hosted its annual developer conference where it unveiled a number of new products and updates. Coming soon: visual recognition for phones (Google Lens), second generation AI hardware and a more advanced Google Assistant capable of interactive conversation, which will be available on Apple Inc. (NASDAQ:AAPL) iPhones as well as Android devices.
A lightweight Android that can run on cheap phones is also in the works.
Top Monness analyst James Cakmak was impressed. He writes that “the underlying concern for Google down the road is how the company will navigate a post text-based world as we transition to voice-based transactional queries,” and now “we contend the developments helped alleviate many overarching fears.”
Click here to see Cakmak’s full coverage and track record.
Twenty-one analysts, including Cakmak, have published buy ratings on GOOGL over the past three months. The stock has an average analyst price target of $1,056, which suggests 9% upside potential over the next 12 months.
Also check out software integration vendor Talend SA ADR (NASDAQ:TLND). This ‘strong buy’ rated stock recently held a Connect conference focusing on data integration. KeyBanc’s Brent Bracelin sees 17% upside for shares over the next 12 months after he “walked away positive about Talend’s opportunity to sustain high growth through share gains. It continues to innovate… and is still early in its opportunity to disrupt a $9 billion TAM.” He concludes: We remain buyers of TLND.
JPMorgan Conference: Guidewire (GWRE)
The 45th Annual JPMorgan TMT conference just finished up in Boston. Ahead of the conference, JPMorgan cherry-picked some top stocks to track.
One of these stocks was software publisher Guidewire Software Inc (NYSE:GWRE).
“Fiscal 2017 was more back-end loaded in terms of expectations for business coming out of tier 1 providers,” says five-star JPMorgan analyst Sterling Auty. “We are heading into that zone and we are also hitting the time frame where we should finally learn the new greenfield opportunity. These two catalysts could be enough to lead to a summertime rally in shares of GWRE.”
He has a buy rating on the stock and $78 price target (22.5% upside).
Click here to see Auty’s full coverage and track record.
Twilio Signal & Next Conferences: Twilio (TWLO) and Nutanix (NTNX)
Cloud communications platform Twilio Inc (NYSE:TWLO) recently hosted its Signal conference. The stock is suffering following the loss of key customer Uber, but this has not deterred top Canaccord Genuity analyst Richard Davis.
Prices plunged following artificial inflation post IPO which took prices to $64 last September, but Davis has gone out on a limb to state that ultimately “Twilio is a very good idea delivered at precisely the right time.”
“Attendees are likely to learn that the developers in attendance couldn’t care less about the Uber news, they value the software and appreciate the fact that Twilio makes their lives easier” says Davis, who has a buy rating on the stock with a $33 price target (29% upside from the current share price of $25). He is one of the top 10 analysts on TipRanks, boasting an impressive 75% success rate and 24.1% average return.
Click here to see Davis’ full coverage and track record.
Also check out cloud computing company Nutanix Inc (NASDAQ:NTNX). Maxim’s Nehal Chokshi says the Next conference in late June is key to shifting investor sentiment toward Nutanix as a software rather than hardware company. She is bullish on the stock following the announcement of a “powerful” multiyear initiative between NTNX and IBM to deliver a “hyperconverged” solution for big data crunching.
Click here to see Chokshi’s full coverage and track record.
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Here we looked at just the tech sector but in fact we cover 8 different sectors. Which stocks have received the most buy ratings over the last seven days in the sector that interests you the most? Find out now.
