The Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), and Nvidia (NASDAQ:NVDA) are among the widely-discussed stocks on the famous social media platform Reddit. While these stocks are buzzing on Reddit and have significantly gained mentions, TipRanks’ Analyst Top Stocks tool shows that analysts love these stocks.
TipRanks’ Analysts’ Top Stocks tool highlights stocks with a ‘Strong Buy’ or ‘Strong Sell’ rating consensus based on the recommendations of the best-performing analysts.
Note that TipRanks identifies the top Wall Street analysts per sector, per timeframe, and against different benchmarks. The ranking reflects an analyst’s ability to deliver high returns via recommendations.
Against this backdrop, let’s delve deeper into these trending Reddit stocks.
What are Expectations for META Stock?
Meta stock has appreciated quite a lot on a year-to-date basis, thanks to the momentum in its products and social platforms. Further, its focus on reducing costs and driving profitable growth impressed investors. Despite the massive increase in its stock, analysts are bullish about Meta’s prospects.
On TipRanks, META stock has received 27 unanimous Buy recommendations from top Wall Street analysts for a Strong Buy consensus rating. The average Meta stock price forecast of $347 implies 8.5% upside potential from current levels. Also, the highest 12-month price target on META is $410, which indicates an impressive 28.5% upside potential.
Meta recently announced stronger-than-expected Q2 results. Following the Q2 earnings, Goldman Sachs analyst Eric Sheridan increased his price target on META stock to $384 from $335 and maintained a Buy recommendation on the stock.
With ad revenues reaccelerating and the investments in AI (artificial intelligence) increasing efficiency and providing growth opportunities ahead, Sheridan sees META stock as a solid long-term pick.
Along with Sheridan, top analysts, including Brad Erickson of RBC Capital and Mark Shmulik of Bernstein, reiterated their Buy recommendations on META stock on July 27.
Microsoft: Are Analysts Bullish on the Stock?
With 23 Buys, one Hold, and one Sell recommendation from top Wall Street analysts, Microsoft stock has a Strong Buy consensus rating. These analysts’ average MSFT price target of $391.75 implies 16.86% upside potential from current levels.
Nine analysts, including Rishi Jaluria of RBC Capital and Bradley Sills of Bank of America Securities, reiterated a Buy recommendation on MSFT stock on July 26. Further, the highest 12-month price target on MSFT is $425, which implies an impressive ~27% upside potential. This was given by Citi analyst Tyler Radke and Barclays analyst Raimo Lenschow on July 25.
Microsoft stock has gained over 40% so far this year. Meanwhile, Goldman Sachs analyst Kash Rangan remained upbeat about MSFT stock and reiterated a Buy rating on July 21. The analyst expects Microsoft to benefit from the strength of its cloud offering (encompassing Azure and Office). Further, the analyst sees MSFT as well-positioned to capitalize on secular tailwinds, including digital transformation and generative AI.
Is NVDA Stock a Good Buy Right Now?
Shares of the chip company Nvidia skyrocketed this year thanks to the advancements in generative AI and its dominant positioning in the AI space. Despite the massive growth in its share price, the stock has received 27 Buys and two Hold recommendations from top Wall Street analysts. The average NVDA price target of $502.86 from these analysts implies 7.6% upside potential.
Further, the highest price target of $600 represents 28.5% upside potential from current levels.
Mizuho securities analyst Vijay Rakesh reiterated a Buy recommendation on NVDA stock on July 24. The analyst increased the price target to $530 from $400.
Rakesh expects the addressable market for AI unit servers to expand by 10 times over the next five years. Moreover, Nvidia, the dominant AI player, remains well-positioned to capitalize on this significant growth opportunity.
The Bottom Line
META, MSFT, and NVDA stocks are trending on Reddit and appear attractive long-term bets, owing to the strong secular sector trends, their solid competitive positioning, and their Strong Buy consensus ratings from top Wall Street analysts.
