8 Best Conglomerate Stocks to Buy Now

1) Harte Hanks, Inc. (NASDAQ:HHS)

Average Upside Potential: 139.52%

Harte Hanks, Inc. (NASDAQ:HHS) is a marketing services company, offering multichannel marketing solutions and consulting, data analytics, and strategic assessment.

Harte Hanks, Inc. (NASDAQ:HHS) is currently benefiting from healthy customer relationships and stability in revenues. Also, it has a strong sales pipeline and presence in small and medium-sized business sectors. The company released its 1Q 2024 financial results. Harte Hanks, Inc. (NASDAQ:HHS) ended 1Q 2024 with a cash balance of $11.5 million as of March 31, 2024.

In 1Q 2024, it saw operating income of $0.4 million as compared to $1.1 million in 1Q 2023. This decline was due to restructuring expenses during the quarter. Net loss came in at $0.2 million as compared to net loss of $0.8 million in the prior-year quarter. 1Q 2024 included $0.9 million of restructuring expenses. Without this, the company would have generated ~$0.7 million of net income.

Harte Hanks, Inc. (NASDAQ:HHS) saw total revenues for 1Q 2024 of $45.4 million, exceeding the analysts’ expectations by ~1.3%. The stock of Harte Hanks, Inc. (NASDAQ:HHS) should be monitored by investors due to its “Elevate” program. This program focuses on improving agility, innovation, organic growth, and customer-centricity. Also, it emphasizes margin expansion and business optimization.

Wall Street analysts expect Harte Hanks, Inc. (NASDAQ:HHS) to post strong growth heading into 2H24, given its healthy and stable balance sheet. The company has no outstanding debt as at March 31, 2024. Its financial health is well-placed to execute long-term growth strategies in 2024 and beyond.

As of the end of the first quarter of 2024, 5 hedge funds out of the 920 funds tracked by Insider Monkey had stakes in Harte Hanks, Inc. (NASDAQ:HHS).

While we acknowledge the potential of Harte Hanks, Inc. (NASDAQ:HHS) as an investment, we believe that the artificial intelligence industry has a promising outlook. If you are looking for an AI stock that is more promising than NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

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