Technology

Large Cap Technology Highlights Jefferies Top Growth Stocks to Buy

Lee Jackson

Published: February 2, 2016 8:35 am

Last Updated: January 13, 2020 1:46 pm

Well, January is over, but the first trading day for February showed us that the volatility is still here for the markets. Given the huge run-up on Friday, that’s not surprising as many investors are still reeling from a bad January, and shifting portfolios to account for the downside. One thing is for sure, companies that are blowing away numbers are getting rewarded, just like those who miss are getting hit.

In this week’s research report from Jefferies, the growth stock calls lean to some top technology names. Some blew away numbers, some missed, and some are still set to report the quarter. They all make good sense for aggressive growth accounts.

Amazon

This is the absolute leader in online retail and a dominate player in cloud storage business, but it missed estimates badly and got hit hard last week. Amazon.com Inc. (NASDAQ: AMZN) serves consumers through retail websites that primarily include merchandise and content purchased for resale from vendors and those offered by third-party sellers. In addition, the company serves developers and enterprises through Amazon Web Services (AWS) that provides compute, storage, database, analytics, applications and deployment services that enable virtually various businesses.

Jefferies notes that the fourth-quarter results were below Wall Street estimates on almost all metrics, and the guidance for the first quarter was somewhat mixed. While the North American revenues rose a solid 24% to $21.5 billion, they came in below the Jefferies estimate of $22.9 billion. While the stock was pounded, the analysts remain buyers on this weakness, as they still maintain that the e-commerce giant has a distinct fulfillment advantage, and remains a core technology holding.

The Jefferies price target for the stock is a gigantic $775. The Thomson/First Call consensus price target is $738.51. The stock closed Monday at $574.81.

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