Ever since the momentum stocks rolled over in March and got torched, with the exception of the truly big high-profile names, most have continued to languish and have trailed the overall market. The bottom line for investors with serious risk tolerance is which of these stocks still has best-in-class revenue growth? In a new research report, the chip analysts at Credit Suisse answer that question and more. In fact, they continue to expect sustained, robust growth across most of the high-growth software companies in their coverage universe,
Here are top “off-the-bottom” high-growth momentum chip names to buy now from Credit Suisse. All of these top names are rated Outperform.
Concur Technologies Inc.‘s (NASDAQ: CNQR) easy-to-use Web-based and mobile solutions help companies and their employees control costs and save time. Concur Connect is the platform that enables the entire travel and expense ecosystem of customers, suppliers and developers to access and extend Concur’s travel and entertainment cloud. The Credit Suisse team sees accelerating growth for the company and a strong market position. The Credit Suisse price target is $130. The Thomson/First Call consensus target is at $103.08. Concur closed Thursday at $86.94 a share. A trade to the Credit Suisse target would be over a 50% gain.
NetSuite Inc. (NYSE: N) has been a top name to buy on Wall Street for the past year. The company provides cloud-based financials/enterprise resource planning (ERP) software suites in the United States and internationally. It offers NetSuite, a platform with financials/ERP, customer relationship management, professional services automation and e-commerce capabilities that automate processes across departments. The Credit Suisse target for the stock is $125, and consensus target is $95.24. NetSuite closed Thursday at $80.54. Hitting the Credit Suisse target from here would be a 55% gain.