In this article, we discuss the 5 best new stocks to buy according to analysts. To read the detailed analysis of the IPO market, go directly to the 14 Best New Stocks To Buy According To Analysts.
5. Joint Stock Company Kaspi.kz (NASDAQ:KSPI)
IPO Date: 01/16/2024
Number of Hedge Fund Holders: N/A
Average Analyst Price Target Upside: 16.2%
Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is a Republic of Kazakhstan-based company that offers payments, marketplace, and fintech solutions. The company runs through Payments Platform, Marketplace Platform, and Fintech Platform segments.
Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is one of the best new stocks to buy according to analysts. On May 7, New Street initiated coverage of the stock with a Buy rating and a $175 price target.
On April 22, Joint Stock Company Kaspi.kz (NASDAQ:KSPI) announced Q1 earnings. The net income reported was KZT 223 billion (1 KZT = US$0.0023 on May 10), which was up 28% year-over-year. The revenue surged 40.0% year-over-year to KZT 553 billion.
As of May 10, Joint Stock Company Kaspi.kz (NASDAQ:KSPI) has received Buy ratings from 6 Wall Street analysts. The average price target of $139.66 has an upside of 16.2% from current levels.
4. Maplebear Inc. (NASDAQ:CART)
IPO Date: 09/19/2023
Number of Hedge Fund Holders: 38
Average Analyst Price Target Upside: 18.86%
Maplebear Inc. (NASDAQ:CART) is a California-based company that offers online grocery shopping services in North America through a mobile application and website. Maplebear Inc. (NASDAQ:CART) was held by 38 hedge funds in the fourth quarter of 2023 and the stakes amounted to $1.36 billion. D1 Capital Partners is the most prominent shareholder of the company and has a position worth $678.493 million as of Q4 of 2023.
As of May 10, 27 Wall Street analysts have covered Maplebear Inc. (NASDAQ:CART), and 14 keep Buy-equivalent ratings on the stock. The average price target of $41.53 implies an upside of 18.86% from the stock’s current price. The company is one of the best new stocks to buy according to analysts.
On May 8, Maplebear Inc. (NASDAQ:CART) reported first-quarter earnings. The GAAP EPS beat the market consensus by $0.45 at $0.43. The revenue beat the estimates by $25.68 million and climbed 8.0% year-over-year to $820 million.
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3. Astera Labs, Inc. (NASDAQ:ALAB)
IPO Date: 03/20/2024
Number of Hedge Fund Holders: N/A
Average Analyst Price Target Upside: 25.2%
Astera Labs, Inc. (NASDAQ:ALAB) is a California-based company that is engaged in designing, manufacturing, and selling semiconductor-based connectivity solutions for cloud and AI infrastructure.
As of May 10, based on 11 Wall Street analysts’ ratings, Astera Labs, Inc. (NASDAQ:ALAB) has a consensus of Strong Buy. The average price target of $87.73 represents an upside of 25.2% from the present levels.
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2. Oddity Tech Ltd. (NASDAQ:ODD)
IPO Date: 07/19/2023
Number of Hedge Fund Holders: 9
Average Analyst Price Target Upside: 39.7%
Oddity Tech Ltd. (NASDAQ:ODD) is an Israel-based company that is engaged in building digital-first brands by recognizing customer needs in the wellness and beauty industries and providing related products as solutions.
On May 7, Oddity Tech Ltd. (NASDAQ:ODD) reported first-quarter 2024 earnings. The non-GAAP EPS was $0.61, which beats the estimates by $0.12. The revenue surged 27.7% year-over-year to $212 million and topped the market consensus by $6.82 million.
As of May 10, 8 Wall Street analysts have covered Oddity Tech Ltd. (NASDAQ:ODD), and 6 keep Buy ratings on the stock. The average price target of $51.94 implies an upside of 39.7% from the stock’s current price.
According to our database, 9 hedge funds held stakes in Oddity Tech Ltd. (NASDAQ:ODD) in the fourth quarter of 2023, with positions worth $93.255 million.
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1. Savers Value Village, Inc. (NYSE:SVV)
IPO Date: 06/28/2023
Number of Hedge Fund Holders: 12
Average Analyst Price Target Upside: 68.37%
Savers Value Village, Inc. (NYSE:SVV) is a seller of second-hand merchandise in retail stores and operates through multiple brands, including Savers, Value Village, and Value Village Boutique, among others. In the fourth quarter of 2023, 12 hedge funds had stakes in Savers Value Village, Inc. (NYSE:SVV), with total positions worth $55.05 million.
Savers Value Village, Inc. (NYSE:SVV) tops our list of the best new stocks to buy according to analysts. As of May 10, 9 Wall Street analysts keep Buy-equivalent ratings on the stock. The average price target of $23.00 represents an upside of 68.37% from present levels.
On May 10, Baird lowered the price target on Savers Value Village, Inc. (NYSE:SVV) to $21 from $23 and kept an Outperform rating on the shares.
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Should you invest $1,000 in Savers Value Village, Inc. (NYSE:SVV) right now?
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Disclosure: None. You can also look at the 11 Best Farmland and Agriculture Stocks To Buy According to Analysts and 15 Best Places in Oregon For A Couple To Live On Only Social Security.
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