Top Wall Street analysts like these 3 stocks for the long term

With that in mind, here are three stocks that the Street’s top pros love, according to TipRanks, a platform that ranks analysts based on past performance.

Our first stock of the week is cybersecurity provider CrowdStrike (CRWD). The company recently impressed investors with strong quarterly results and a positive outlook. It also announced the acquisition of Flow Security, which provides cloud data runtime security solutions.

Mizuho analyst Greg Moskowitz said CrowdStrike is seeing solid traction with the company’s Falcon Cloud Security, Identity and next-generation LogScale SIEM (security information and event management) products, and management is He emphasized that the companies have revealed that they collectively contribute more than $850 million to annual recurring revenue.

The analyst also noted that the company completed several large deals in the fourth quarter, including more than 250 transactions valued at more than $1 million. Additionally, transaction volumes increased by 30% year over year across all customer cohorts.

Explaining his bullish stance, Moskowitz said, “CRWD’s cloud platform remains highly differentiated, and its GTM [go-to-market] The company is seeing further success beyond the traditional endpoint security market.

Analysts believe CrowdStrike will benefit from generative artificial intelligence. Moskowitz reiterated his buy rating on CRWD stock and raised his price target from $360 to $390.

Moskowitz is ranked No. 132 out of more than 8,700 analysts tracked by TipRanks. His rating is that he is profitable 62% of the time, and the average return for each is 16.5%. (See his CrowdStrike ownership structure on TipRanks)

Transferred to athletic shoe and apparel manufacturer Nike (NKE). Earlier this month, Guggenheim analyst Robert Dorble reiterated his buy rating on Nike stock with a price target of $130, adding that it was the “best idea.” Analysts believe a pullback in stock prices, down more than 8% in 2024, would provide an attractive entry point with a favorable risk-reward profile.

“We believe Nike is laying the groundwork for impactful new product launches (focused on basketball, but also including running) to accelerate sales growth in the second half of 2024 and into 2025. “There are,” Dolble said.

Analysts noted that the company is increasing its focus on the highly competitive running category after stalling in the past few years. He expects growth in the category to be supported by a range of new products, including Pegasus 41.

Drbul also expects the Nike brand to be highly visible at the upcoming 2024 Summer Olympics. Additionally, he believes Jordan Brand remains strong and presents significant opportunities for the company in international, women’s and children’s segments. He emphasized that Jordan Brand is on its way to becoming his second-largest brand in North America.

Additionally, analysts believe that higher prices, favorable ocean freight rates and supply chain improvements could boost gross margins more than offsetting the impact of higher product costs.

Drbul is ranked #565 out of over 8,700 analysts tracked by TipRanks. His rating is that he is profitable 59% of the time, and the average return for each is 7.9%. (See Nike Stock Buyback on TipRanks)

Warehouse chain BJ’s Wholesale Club (BJ) recently reported mixed results for the fourth quarter. The company’s profits beat analysts’ consensus estimates, but sales rose 8.7% year over year, falling short of expectations.

Nevertheless, Baird analyst Peter Benedict was impressed with the company’s performance. He reiterated his buy rating on BJ stock and raised his price target from $80 to $90. The analyst noted that the company delivered encouraging key performance indicators, including traffic and unit sales, even as lower inflation continues to weigh on average basket size.

Analysts believe BJ’s is well on its way to transforming its general merchandise business through a variety of initiatives, including strengthening its assortment and product presentation and stepping up its marketing efforts. Interestingly, general merchandise comps are expected to exceed grocery comps in FY24.

Mr. Benedict also highlighted BJ’s robust real estate pipeline and plans to open 12 clubs this year. Additionally, he noted the retailer’s healthy membership trends, with dues revenue increasing by his 6.5% this quarter and tenure renewal rates remaining strong at his 90%.

“With a strong balance sheet and still reasonable valuation, we continue to highlight BJ as an attractive long-term mid-cap classic GARP. [growth at a reasonable price] It’s an idea,” the analyst said.

Mr. Benedict is ranked #74 out of over 8,700 analysts tracked by TipRanks. His rating is that he is profitable 69% of the time, and the average return on each is 15.2%. (See his BJ’s wholesale technical analysis on TipRanks)