8 top stocks you shouldn’t miss
There is a lot of anxiety swirling about in the financial markets regarding a possible recession. Are some of the world’s biggest companies getting nervous, too? The markets will get a better sense of where the global economy is heading when top financial firms and big tech companies report their third-quarter earnings.
The 2022 October earnings season is going to be a major test for future sales and profits. A great quarter will mean a sigh of relief for anxious investors. By contrast, a poor quarter could be the final nail in the proverbial recession coffin. The third-quarter earnings season see more than 60 S&P 500 companies scheduled to report.
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From eCommerce giant Amazon to the world’s number one search engine, Google, some of the world’s biggest companies are reporting their Q3 earnings in October. Traders will get a good overview of just how well Wall Street has been performing these past three months.
We’ve listed some of the top companies reporting their earnings this month. You don’t want to miss out on these major market movers this month. Expect market volatility when these companies release their Q3 reports.
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Top stocks you shouldn’t miss:
1 Netflix (NFLX), Oct 18
Once the darling of the stock market, streaming titan Netflix finds itself in poor form in 2022. Netflix reports on October 18 with analysts expecting revenue to grow just 5% year-on-year, its lowest quarterly increase yet. Netflix’s stock rose by more than 6% on October 17 though overall it is experiencing a loss of about 59% in 2022. Its Q3 report will give investors a good indicator of whether the company can change its fortunes. Netflix has launched a cheaper subscription service though now featuring adverts.
Analyst consensus: Hold
Forecast: $7.85 billion
EPS: 2.18
Market cap: $109 billion
The average price target is $248.45 with a high forecast of $365.00 and a low forecast of $157.00.
The average price target represents a 1.65% Increase from the last price of $244.42.
Based on 30 analysts offering 12-month price targets for Netflix in the last 3 months.
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2 Tesla (TSLA), Oct 19
Shares of Tesla rose 7%, as traders are eager to get their share of the world’s biggest electric vehicle company ahead of its earnings on October 19.
Tesla, Wall Street’s most heavily traded stock, has dropped by more than 17% since it released its third-quarter vehicle deliveries on Oct 2. Telsa missed estimates as logistical challenges and poor consumer sentiment overshadowed its record deliveries. Analysts still expect CEO Elon Musk to deliver a 60% increase in quarterly revenue and a 48% surge in earnings.
Analyst consensus: Buy
Forecast: $22.5B
EPS: 1.03
Market cap: $687.33B
The average price target is $325.34 with a high forecast of $760.00 and a low forecast of $141.33.
The average price target represents a 48.62% Increase from the last price of $218.91.
Based on 30 analysts offering 12-month price targets for TSLA in the last 3 months.
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3 Alphabet (Google), Oct 25
You would think that Alphabet, the parent company of Google, would be too big to fail but like any company, it’s beholden to market conditions. While Google is expected to deliver year-on-year revenue growth, earnings are expected to be lower due to poor digital advertising earnings. Revenue is however expected to be supported by Alphabet’s cloud services which have been a major growth driver for Google, increasing the company’s market share in the sector to 10%.
Analyst consensus: Buy
Forecast: $71.34B
EPS: 1.28
Market cap: $1.31T
The average price target is $144.75 with a high forecast of $165.00 and a low forecast of $135.00
The average price target represents a 43.84% Increase from the last price of $100.63
Based on 8 analysts offering 12-month price targets for GOOGLE in the last 3 months.
4 Twitter (TWTR), Oct 25
Twitter is in the bizarre situation of being held hostage by CEO Elon Musk. Earlier in 2022 Musk stated his intent to buy the struggling social media platform but then backtracked on the deal. Since has since then sued Musk in July and the court has ordered Musk to follow through with his initial $44 billion deal by the end of October. All of this uncertainty has rocked Twitter’s shares ahead of its earnings later in October.
Analyst consensus: Hold
Forecast: $1.29B
EPS: 0.0239
Market cap: $38.77B
The average price target is $47.18 with a high forecast of $54.20 and a low forecast of $22.00.
The average price target represents a -7.03% Decrease from the last price of $50.75.
Based on 15 analysts offering 12-month price targets for Twitter in the last 3 months.
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5 Microsoft (MSFT), Oct 16
Microsoft received a lot of attention from a volatile price movement over the last few months. MSFT saw an increase to a high of $293 and dropped to lows of US$225. Its lower price means traders have a better opportunity to trade with one of the world’s biggest tech companies.
Analyst consensus: Buy
Forecast: $49.86B
EPS: 2.32
Market cap: $1.77T
The average price target is $320.73 with a high forecast of $411.00 and a low forecast of $275.00.
The average price target represents a 35.32% Increase from the last price of $237.01.
Based on 29 analysts offering 12-month price targets for MSFT in the last 3 months.
6 Meta Platforms (Facebook) , Oct 26
If you looked at Meta stock in 2021, you would have seen its revenue soaring by 37% to $118 billion. Meta however has pivoted its business model, renaming its company and pumping billions into the Metaverse. In 2022, revenue slumped by 1% in the second quarter while its net income plunged 36%. Like Twitter and Google, Facebook is feeling a lack of advertising spending, and it is hurting its bottom line. Is it a good buy? That all depends on how well the Metaverse will perform in the next year.
Analyst consensus: Buy
Forecast: $27.57B
EPS: 1.93
Market cap: $360.24B
The average price target is $207.73 with a high forecast of $275.00 and a low forecast of $140.00.
The average price target represents a 55.10% Increase from the last price of $133.93.
Based on 34 analysts offering 12-month price targets for FACEBOOK in the last 3 months.
7 Apple (AAPL) , Oct 27
Apple, the world’s most valuable company, is a stock that is at odds with the company’s performance; its share price has dropped though has seen incredible performance in the consumer market. Apple launched its latest line of products earlier in 2022 to a huge reception. An area however where Apple has truly excelled is in the fitness sector with its Watch and fitness subscription product. Apple also purchased Beats for $3 billion, increasing its share in the tech market.
Analyst consensus: Buy
Forecast: $88.76B
EPS: 1.26
Market cap: $2.29T
The average price target is $181.93 with a high forecast of $220.00 and a low forecast of $136.00.
The average price target represents a 27.93% Increase from the last price of $142.21.
Based on 28 analysts offering 12-month price targets for APPLE in the last 3 months.
8 Amazon (AMZN), Oct 27
Amazon was the clear winner at the onset of the pandemic. The eCommerce giant cemented its position as the global online shopping solution from 2020 to 2021. Since then, however, many rivals have clawed back their share of the market and the company is facing logistical issues stemming from ongoing Covid-related problems in Asia. Its share price took a major hit earlier in 2022 yet has seen an increase in recent months. The company is much more attainable for traders now and according to CMTrading market consensus, remains a BUY.
Analyst consensus: Buy
Forecast: $127.76B
EPS: 0.2184
Market cap: $1.16T
The average price target is $171.65 with a high forecast of $200.00 and a low forecast of $118.00.
The average price target represents a 51.07% Increase from the last price of $113.62.
Based on 35 analysts offering 12-month price targets for AMAZON in the last 3 months.
Full list of top stocks: Q3 earnings release
Tuesday, October 18, 2022
Netflix (NFLX) 7.85B / 99.95B
Wednesday, October 19, 2022
Tesla (TSLA) 22.65B / 698.98B
Tuesday, October 25, 2022
Alphabet A (GOOGL) 71.34B / 1.29T
Twitter Inc (TWTR) 1.29B / 37.58B
Wednesday, October 26, 2022
Microsoft (MSFT) 49.86B / 1.75T
Meta Platforms (META) 27.58B / 358.65B
Thursday, October 27, 2022
Apple (AAPL) 88.73B / 2.25T
Amazon.com (AMZN) 127.76B / 1.17T
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