Technology

8 Top Tech Stocks Analysts Want You to Buy Now

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. The calls seen in the past week show that analysts still favor tech stocks, even though the sector has soared in the past year and many of the stocks may be overvalued.

These analysts favored the following eight top tech stocks last week, though a few seem like contrarian calls.

Alphabet Upgraded at Loop Capital

Loop Capital reiterated its $2,525 price target when it upgraded Alphabet Inc. (NASDAQ: GOOGL) from Hold to Buy on Tuesday. Several analysts reiterated Buy-equivalent ratings after this tech giant posted quarterly results earlier this month, but JMP Securities and Wedbush also boosted their price targets to $2,400 and $2,470, respectively. The consensus target is $2,321.05 a share, and all but five of the 43 analysts surveyed recommend buying shares.

The stock has pulled back a bit from the recent all-time high of $2,145.14 per share but is still well up from the 52-week low of $1,008.87 from last March. The share price is more than 29% higher year to date, while the Nasdaq has seen almost an 8% gain in that time.

Canaccord Genuity Picks CrowdStrike

On Wednesday, Mizuho maintained its Buy rating on CrowdStrike Holdings Inc. (NASDAQ: CRWD) and lifted its price target from $205 to $270. The following day, Canaccord Genuity started coverage of the stock with a Buy rating and a $280 target price. Stifel wasn’t a fan though, with its Hold rating and $240 target. The consensus price target of $226.73 is less than the most recent close, but analysts on average recommend buying shares.

This cybersecurity company announced an acquisition this week too. The stock retreated marginally in the past week, pulling back from an all-time high of $251.28. The 52-week low is $31.95, and the share price has risen around 13% since the beginning of the year.

Facebook, a Bull of the Day

On Wednesday, Facebook Inc. (NASDAQ: FB) was named as the Bull of the Day at Zacks, which pondered whether, with the lowest price-to-earnings ratio of the FAANG stocks, this stock was a value. Loop Capital has a Buy rating and recently boosted its price target from $330 to $370. Analysts on average recommend buying shares. They have a consensus price target of $338.42.

The social media giant has found itself at odds lately with a fellow FAANG component over privacy matters. Shares ended the past week near $261, down over 4% from the beginning of the year. Again, the Nasdaq is up less than 8% in that time.

Micron Technology, a Daiwa Securities Pick

On Thursday, Daiwa Securities initiated coverage on Micron Technology Inc. (NASDAQ: MU) stock with a Buy rating and price target of $140. Cascend Securities also has a Buy rating and recently hiked its $90 price target to $100. Zacks named the stock a Bull of the Day last month, pointing out that shares have soared over the past several months and the impressive fiscal first-quarter results showcased why the memory chip powerhouse might have more room to run.

The analysts’ consensus recommendation is to buy shares, and it has been for at least three months. The consensus price target on the shares is $95.87. The stock is up about 20% year to date and hit a multiyear high of $91.49 on Friday. The 52-week low of $31.13 was seen last spring.