Investors can easily identify stocks that have a greater chance of outperforming the market with the help of TipRanks’ Top Smart Score Stocks tool. This tool assigns a score to stocks based on eight factors, including analyst ratings, technical analysis, and insider activity. Using this tool, we’ve chosen two stocks that have a ‘Perfect 10’ score — Live Nation Entertainment (NYSE:LYV) and Crocs (NASDAQ:CROX). Let’s take a closer look at these two companies.
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Live Nation Entertainment (NYSE:LYV)
LYV was added to the Perfect 10 list on Friday. Our data shows that retail investors and hedge funds are currently bullish on the stock, as they bought 3.5 million shares of the company last quarter. Also, blogger and news sentiment are more bullish than other stocks in the consumer cyclical sector.
Live Nation is an entertainment company that produces, markets, and sells live concerts for artists. The company’s growing customer base, dominant market position, and increasing number of concerts bode well for long-term growth. Also, LYV is benefiting from higher demand for advertising at the company’s venues and festivals.
On July 27, Live Nation reported better-than-expected second-quarter results. Moreover, based on strong ticket sales trends and attendance growth globally, the company anticipates achieving a noteworthy performance in 2023 and sustaining growth into 2024.
Following the results, seven analysts on TipRanks rated LYV stock a Buy. Among them, JPMorgan analyst David Karnovsky believes that LYV is in a favorable position to attain its historical rate of operating income growth. Additionally, Karnovsky noted that the firm’s results so far this year are surpassing initial expectations.
What is the Price Target for LYV Stock?
LYV stock has a Strong Buy consensus rating on TipRanks based on six Buys and one Hold recommendation. The average LYV stock price target of $109.25 implies 27.3% upside potential from current levels. The stock has witnessed an impressive 24.6% year-to-date rally.
Crocs (NASDAQ:CROX)
CROX stock was added to the Perfect 10 list yesterday. The stock has a “Very Positive” signal from retail investors. Our data shows that investors increased their holdings of CROX stock by 5.5% in the last 30 days. The stock also enjoys bullish blogger sentiment and positive news sentiment on TipRanks. The efficiency of Crocs is further demonstrated by its ROE (return on equity) of 79.57%.
The footwear manufacturer is actively pursuing strategic growth initiatives and is working to enhance and expand its brand’s production and distribution systems. Additionally, CROX’s management is dedicated to reducing its debt load using its cash flow.
It is worth highlighting that following the company’s better-than-expected Q2 earnings on July 27, five analysts assigned CROX stock a Buy rating. Among the bullish analysts, Loop Capital analyst Laura Champine sees the Hey Dude acquisition as a driver for accelerating the company’s long-term growth rate.
Is CROX Stock a Buy, According to Analysts?
Crocs has a Strong Buy consensus rating on TipRanks. This is based on seven Buys and two Hold recommendations assigned in the past three months. The average CROX stock price target of $152.75 implies 54.5% upside potential from current levels. The stock lost about 7.4% so far in 2023.
Ending Thoughts
Bullish analyst sentiment and robust fundamentals make Live Nation and Crocs attractive picks for investors. In addition, Perfect 10 Smart Scores suggest that these stocks could outperform the broader market. Finally, Wall Street analysts see considerable upside potential in these stocks.
