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2 Tech Stocks from Top-Performing TipRanks Portfolios
Stock Analysis & Ideas

2 Tech Stocks from Top-Performing TipRanks Portfolios

Story Highlights

As the world grapples with rising inflation and uncertainties in the capital markets, TipRanks brings you two stocks that have the potential to bag long-term returns.

As people across the world come to terms with rising inflation, growing unemployment, and volatile markets, the recession seems to be knocking on the door. This could bring added anxiety among investors who are already counting losses caused by the market crash due to the COVID-19 pandemic, supply chain disruptions, and other issues.

In such a scenario, it becomes very difficult for investors to decide which stocks to retain/buy and which stocks to sell or ignore.

This is where TipRanks’ Smart Portfolio tool comes in handy. The tool helps compare your portfolio of stocks with the Top-Performing Portfolios and Average Portfolios on the TipRanks website. It also shows a sector-wise allocation of assets:

According to the tool, Verizon Communications, Inc. (NYSE: VZ) and AT&T Inc. (NYSE: T) are the two technology stocks that are part of Top-Performing TipRanks Portfolios. Let’s know more about these telecommunication companies.

Verizon

New York-based Verizon is a telecommunications conglomerate that is a part of the Dow Jones Industrial Average (DJIA). It provides wireline and wireless communications products and services.

The company’s offerings include network access for Internet of Things (IoT) services, video and data services, security and managed network services, corporate networking solutions, and local and long-distance voice services, among others.

In April, Verizon posted upbeat earnings for the first quarter of 2022. Its EPS rose 3% year-over-year to $1.35, coming in just above the Street’s estimate of $1.34.

According to TipRanks, Verizon is expected to report earnings of $1.35 per share in the second quarter. The company is scheduled to release its second-quarter results next month.

Based on three Buys, seven Holds, and one Sell, the stock has a Hold consensus rating. VZ’s average price target of $55.25 implies 6.1% upside potential from current levels. Shares have lost 3.1% over the past year.

AT&T

Headquartered in Dallas, AT&T is one of the largest telecommunications companies in the world. It offers wireless communications, data and internet, TV, and local and long-distance telephone services. The company also provides wholesale and managed networking services as well as telecommunications equipment.

On April 21, the company reported better-than-expected earnings of $0.77 per share for the first quarter of 2022, compared with the Street’s estimate of $0.62 per share and the year-ago figure of $0.65 per share.

AT&T is slated to announce its second-quarter results on July 21. Its consensus EPS forecast stands at $0.62.

Recently, Tigress Financial analyst Ivan Feinseth maintained a Buy rating on the stock and lowered the price target to $28 from $31 (36% upside potential).

In a research note to investors, the analyst said, “The company’s subscriber growth and resilient business model will continue to drive increased cash flow and long-term shareholder value creation.”

Overall, the stock has a Moderate Buy consensus rating based on 12 Buys, six Holds, and one Sell. T’s average price target of $23.28 implies 13% upside potential from current levels. Shares have gained 14% over the past six months.

Conclusion

Verizon and AT&T have a long history and strong fundamentals. They share a portion of their profits with their shareholders in the form of dividends, which also enhances their investment appeal. Investors interested in making long-term returns can consider these stocks.

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