Why These 5 Stocks Are Trending on Friday

In this article we take a look at five stocks that are trending on Friday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are Trending on Friday.

5. International Business Machines Corporation (NYSE:IBM) is up over 3% after Jefferies initiated the stock with a ‘Buy’. Analyst Kyle McNealy has a $170 price target. Shares of International Business Machines Corporation (NYSE:IBM) are also higher due to the broader market strength on Friday. Of the around 873 elite funds in our database, 41 were long International Business Machines Corporation (NYSE:IBM) at the end of Q2.


4. Netflix, Inc. (NASDAQ:NFLX) is in the spotlight after Michael Morris of Guggenheim upped his price target to $685 from $600. Morris has a ‘Buy’ rating on Netflix, Inc. (NASDAQ:NFLX). The number of elite funds we track that were long Netflix, Inc. (NASDAQ:NFLX) rose by 3 from the prior quarter to 113 at the end of the second quarter.


3. Five9, Inc. (NASDAQ:FIVN) is in the spotlight after the company’s shareholders rejected Zoom’s offer to buy the cloud contact center software company. The recent decline in Zoom shares was likely one reason for the rejection. Of the around 873 elite funds in our database, 45 were long Five9, Inc. (NASDAQ:FIVN) at the end of Q2.


2. Zoom Video Communications, Inc. (NASDAQ:ZM) is trending after the company’s bid to buy Five9, Inc. (NASDAQ:FIVN) was rejected. The merger would have helped Zoom Video Communications, Inc. (NASDAQ:ZM) diversify. Catherine D. Wood‘s ARK Investment Management was long more than 3.66 million shares of Zoom Video Communications, Inc. (NASDAQ:ZM) at the end of June.


1. SunPower Corporation (NASDAQ:SPWR) has surged over 11% after it was announced that the company will join the S&P MidCap 400 index effective Tuesday October 5, 2021. If a company joins an index, some institutions may have to buy shares. D E Shaw was long almost 3.2 million shares of SunPower Corporation (NASDAQ:SPWR) at the end of June.

Disclosure: None.