Last year seemed rather like 1999, as technology initial public offerings that made little or no money came out and rocketed higher. However, some of the glow has worn off, and some of the stocks retreated to much lower price levels or traded lower right out of the chute. Some top hedge funds reportedly were shorting the IPOs as soon as they could, and now it appears that many of those same hedge funds could be piling into the shares after another bout of short selling this year.
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We screened our 24/7 Wall St. research database looking for back-draft trade ideas on some of the companies that have had some wild price swings in 2021. We found four stocks that are rated Buy across Wall Street and also offer stellar technologies and applications. While not suited for conservative accounts, these stocks make sense for aggressive investors looking for solid ideas. Remember that Facebook was cut in half after its IPO and traded down to $17. However, it closed recently at $303.
It also is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Affirm
This top fintech stock has given back a huge chunk of the initial gains and is offering an outstanding entry point. Affirm Holdings Inc. (NASDAQ: AFRM) operates a platform for digital and mobile-first commerce.
The company offers integrated checkout, virtual cards, split pay, Affirm app and marketplace, and savings accounts and are building the next-generation platform for digital and mobile-first commerce, making it easier for consumers to spend responsibly and with confidence, easier for merchants to convert sales and grow, and easier for commerce to thrive.
Vacasa, a leading vacation rental management platform in North America, and Affirm have announced that they have partnered to provide flexible payment options to those planning their next vacation. Through the partnership, Affirm will expand its travel category and increase payment flexibility to more vacation rental guests.
Morgan Stanley has an Overweight rating and a huge $146 price target. That compares with the $121.50 Wall Street consensus target and Tuesday’s closing print of $60.51, as the stock hit a 52-week low.
C3.AI
Founded by Wall Street and Silicon Valley legend Tom Siebel, this company was just named one of the Financial Times fastest-growing U.S. companies. C3.AI Inc. (NYSE: AI) operates as an enterprise artificial intelligence (AI) software company. It provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop and deploy enterprise AI applications. Its C3 AI Applications include industry-specific and application-specific turnkey AI solutions.
The company’s C3 AI applications include C3 AI Inventory Optimization, a solution to optimize raw material, in-process and finished goods inventory levels. Its C3 AI Supply Network Risk provides visibility into risks of disruption throughout the supply chain operations for enterprise supply chain managers. C3 AI Customer Churn Management enables account executives and relationship managers to monitor customer satisfaction using transactional, behavioral and contextual information, as well as to take action to prevent customer churn with AI-based and human-interpretable predictions and warning. C3 AI Production Schedule Optimization is a solution for scheduling production, and C3 AI Predictive Maintenance provides insight into asset risk to maintenance planners and equipment operators. it also offers C3 AI Fraud Detection solution and C3 AI Energy Management solution.
Needham’s Buy rating comes with a street-high $195 price target. The lower consensus target is $135.56, and shares closed on Tuesday at $60.86 apiece.
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