This Analyst With 87% Accuracy Rate Sees Around 41% Upside In Amazon.com - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | August 05, 2024 07:53am

U.S. stocks settled lower on Friday, with the Dow Jones index tumbling over 600 points during the session following weak jobs data. Nonfarm payrolls came in at 114,000 last month, a slowdown of 65,000 from June, and well below the economist consensus estimate of 175,000 according to TradingEconomics.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust.

Benzinga’s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.

Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga’s extensive database of analyst ratings is by analyst accuracy. Here’s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

Analyst: Philip Gibbs

Analyst Firm: Keybanc
Ratings Accuracy: 88%
Latest Rating: Maintained an Overweight rating on Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) and raised the price target from $36 to $46 on Aug. 1. This analyst sees around 20% increase in the stock.
Recent News: On July 31, Universal Stainless & Alloy Products reported better-than-expected second-quarter financial results.

Analyst: William Stein

Analyst Firm: Truist Securities
Ratings Accuracy: 87%
Latest Rating: Maintained a Hold rating on Intel Corporation (NASDAQ:INTC) and cut the price target from $33 to $25 on Aug. 2. This analyst sees around 22% upside in the stock.
Recent News: On Aug. 1, the tech giant reported earnings of just 2 cents per share, falling dramatically short of the analyst consensus estimate of 10 cents.

Analyst: Mark Kelley

Analyst Firm: Stifel
Ratings Accuracy: 87%
Latest Rating: Maintained a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) and cut the price target from $228 to $224 on Aug. 2. This analyst sees around 41% upside in the stock.
Recent News: The company posted mixed second-quarter financial results after Thursday's closing bell.

Analyst: Trey Grooms

Analyst Firm: Stephens & Co.
Ratings Accuracy: 87%
Latest Rating: Maintained an Overweight rating on Eagle Materials Inc. (NYSE:EXP) and boosted the price target from $280 to $315 on Aug. 1. This analyst sees around 24% surge in the stock.
Recent News: On July 30, Eagle Materials reported better-than-expected first-quarter EPS results.

Analyst: Alexander Paris

Analyst Firm: Barrington Research
Ratings Accuracy: 86%
Latest Rating: Maintained an Outperform rating on Perdoceo Education Corporation (NASDAQ:PRDO) and raised the price target from $27 to $30 on Aug. 1. This analyst sees more than 25% upside in the stock.
Recent News: On July 31, Perdoceo Education posted better-than-expected quarterly earnings.

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