Investors exploring promising opportunities in the technology sector may take a look at the stocks recommended by TipRanks’ Top Five Tech analysts of 2023. These analysts have witnessed a remarkable track record of generating impressive returns through their yearly investment picks.
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Before moving ahead, it is important to highlight that we used TipRanks’ Expert Center tool to find analysts with a high success rate. TipRanks’ algorithm assesses the statistical importance of each rating, the average return, and the overall success rate of the analysts. Further, each rating was measured over three months.
With this background, let’s look at the Top five tech analysts of 2023.
#1 Brent Thill – Jefferies
Topping the list is Jefferies analyst Brent Thill. Thill had a success rate of 75% in 2023. His best rating was on Meta Platforms (NASDAQ:META), a technology and social media giant. His Buy call on META stock from January 9, 2023, to April 9, 2023, generated a solid return of 66.9%.
#2 Shaul Eyal – TD Cowen
Shaul Eyal bags the second spot on the list. Eyal’s success rate was 77.8% last year. His best rating was on Evolv Technologies (NASDAQ:EVLV), a provider of AI-based security screening solutions. His Buy rating on EVLV stock between March 2, 2023, and June 2, 2023, generated an impressive return of 96%.
#3 Matthew Hedberg – RBC Capital
Matthew Hedberg is placed in the third spot. The analyst had a 67.4% overall success rate in 2023. Hedberg’s best recommendation was Gitlab (NASDAQ:GTLB), a company that offers a platform to develop and deliver software. The analysts’ Buy call on GTLB stock generated a stellar 77.6% return from May 4, 2023, to August 4, 2023.
#4 John Todaro – Needham
In the fourth position is John Todaro of Needham. The analyst had an overall success rate of 86.4% last year. His top recommendation was for Cipher Mining (NASDAQ:CIFR), a technology company focused on the development of Bitcoin mining data centers. Through his Buy call on CIFR stock, Todaro generated a solid return of 45.4% from February 21, 2023, to May 21, 2023.
#5 Justin Post – Bank of America Securities
Justin Post holds fifth place. The analyst had an overall success rate of 78.2% last year. His top recommendation was for Expedia (NASDAQ:EXPE), an online travel solutions provider. Through his Buy call on EXPE stock, Post generated a return of 51.5% from September 21, 2023, to December 21, 2023.
Ending Note
Tracking recommendations from Top analysts can help navigate market volatility and generate notable returns. Investors can tap into the expertise of financial advisors leveraging TipRanks’ Expert Center and make well-informed decisions.
