Shares To Buy: Best Bets

If you're looking to invest in stocks right now, there are a few options to consider. Firstly, it's important to remember that while buying stocks is easy, buying the right stocks requires a well-thought-out strategy. With that in mind, here are some potential options:

- Meta Platforms (META)

- Goldman Sachs (GS)

- Granite Construction (GVA)

- Universal Health Services (UHS)

- Booking (BKNG)

These stocks are recommended based on various factors, including recent earnings growth, new products or services, and revenue growth. Additionally, it's worth considering stocks with strong institutional support and those that are leading their respective industry groups. Remember to do your own research and consult with a financial advisor before making any investment decisions.

Meta Platforms (META)

Meta Platforms, Inc. (META) is a technology company that develops social media applications, helping people connect, share, find communities, and grow their businesses. The company operates through two segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, Threads, and WhatsApp, while RL focuses on augmented, mixed, and virtual reality.

Meta Platforms has been identified as one of the prime candidates for stocks to buy or watch now. The company's overall performance is strong, with a near-perfect IBD Composite Rating of 98. The stock has risen by around 41% in 2024, and earnings are expected to increase by 48% in 2024 and a further 14% in 2025.

Meta Platforms has a strong technical front, and its stock is in the top 7% of issues in terms of price performance over the past 12 months. The company's earnings remain robust, with EPS growing by an average of 150% over the past three quarters and surging by 78% year-over-year in the most recent quarter.

The company has been investing heavily in artificial intelligence (AI). CEO Mark Zuckerberg has indicated that early results from this focus show that Meta "should invest significantly more over the coming years." This has led to an increase in the company's guidance for 2024 capital expenditures.

Meta Platforms' strong performance and growth prospects make it an attractive investment opportunity, and it is certainly a stock worth considering for those looking to invest in the tech sector.

Goldman Sachs (GS)

Business Segments

• Global Banking and Markets: This segment includes financing, advisory services, risk distribution, and hedging for institutional and corporate clients. It encompasses Fixed Income, Currency and Commodities (FICC), Equities, Investment Banking, and Marquee.
• Asset and Wealth Management: This segment provides advice, investing, and execution services for institutions and individuals across public and private markets.
• Platform Solutions: This segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, as well as transaction banking and other platform businesses.
• Consumer Platforms: These are partnerships that offer financial products, including credit cards, instalment financing, and high-yield savings accounts, embedded into the ecosystems of major brands.

Financial Performance and Outlook

Goldman Sachs's stock price has risen nearly 20% so far this year, and the company has recently reported strong quarterly results. In the first quarter of 2024, Goldman Sachs posted a 32% increase in earnings per share to $11.58, driven primarily by gains in investment banking. Net revenue jumped 16.3% to $14.21 billion.

Investment Strategies

Goldman Sachs has offered investment strategies for fund managers, recommending companies with low operating leverage, low labour costs as a share of revenues, and stocks with a combination of dividend yield and growth.

Risks and Market Outlook

David Kostin, Goldman Sachs's chief US equity strategist, has shared his outlook for US stocks for the second half of 2024 and the risks that could impact their record rally.

Stock Symbol

The stock ticker symbol for Goldman Sachs Group Inc is GS.

Granite Construction (GVA)

Granite Construction Incorporated is an infrastructure contractor operating in the United States. It operates through two segments: Construction and Materials. The Construction segment engages in the construction and rehabilitation of roads, bridges, rail lines, airports, marine ports, dams, reservoirs, and site development. The Materials segment is involved in the production of aggregates, asphalt concrete, liquid asphalt, and recycled materials for internal use in construction projects and sale to third parties.

Recent News

• Granite has been awarded a $25 million contract by the City of Everett for a bridge replacement project in Everett, Washington.
• Granite has been awarded a $15 million contract by the California Department of Transportation (Caltrans) for a rehabilitation project near Stratford, California.
• Granite has executed a long-term lease with the Port of Woodland for a new construction materials facility.
• Granite has appointed Carlos M. Hernandez, former Fluor CEO, to its board of directors.

Financial Performance

Granite Construction's stock price has seen positive momentum, with a 12.43% increase over the past month, outperforming the Zacks Building Products - Heavy Construction industry's 12.52% performance. Over the past year, the stock price has increased by 70.02%, far outpacing the S&P 500's 30.58% gain.

Granite Construction's earnings estimates have been revised upwards over the past two months, with 1 estimate moving higher for the full year. The consensus estimate has increased from $4.29 to $4.76 during this period.

Investment Considerations

• Granite Construction's net income is expected to grow this year.
• Granite Construction has doubled its daily average of shares traded over the last 3 months, indicating new trends and larger share price movements.
• The company has a strong financial position, with a current ratio of 1.5, indicating its ability to meet short-term obligations.
• The company has a Growth Score of B, indicating positive cash flow growth and historical EPS growth.
• The stock has a Style Score of B, indicating it is rated higher than 60% of stocks, but it has a Value Score of C, indicating it may be fairly valued.
• The stock's average 20-day trading volume of 443,430 shares is above the industry median, suggesting active trading.

Universal Health Services (UHS)

Universal Health Services, Inc. (UHS) is a healthcare management company that owns and operates acute care hospitals, behavioural health centres, and outpatient facilities. It was founded in 1978 or 1979 by Alan B. Miller and is headquartered in King of Prussia, Pennsylvania.

UHS has two segments: Acute Care Hospital Services and Behavioral Health Care Services. The company's hospitals offer a range of services, including general and specialty surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic and coronary care, and paediatric services. It also provides commercial health insurance and various management services.

UHS has been identified as a potential stock investment opportunity by several sources. Here are some reasons why:

• UHS has a Zacks Rank of 2, indicating that it is expected to outperform the market in the short term.
• It has a VGM Score of A, which is a weighted average of Value, Growth, and Momentum Style Scores. This makes it a good fit for investors' personal trading styles.
• UHS may be undervalued, with a Value Score of A, indicating that it could be a good pick for value investors.
• The company has strong financial health and growth prospects, with a Growth Score of A.
• UHS has an impressive earnings surprise history and is expected to beat estimates again in its next quarterly report.
• The stock has a "Buy" rating from Argus Research, with a target price of $189.
• UHS has solid growth attributes and could handily outperform the market. Its shares have already started gaining and might continue this trajectory in the near term.
• The company's behavioural health offerings could drive future growth.
• UHS has a strong IBD Composite Rating of 97 out of 99, indicating solid overall performance.
• Its earnings have been accelerating over the past two quarters, with an average growth of 21% over the last three quarters.
• Wall Street analysts expect UHS's earnings to increase by 31% in 2024 and 10% in 2025.
• The stock has seen a price increase of over 25% so far this year, outperforming the benchmark S&P 500.
• Institutions have been net buyers of UHS stock, with an Accumulation/Distribution Rating of B+.
• UHS is rated as a "Hold" by Yahoo Finance, with a target price of $184.

In summary, Universal Health Services (UHS) is a potential stock investment opportunity due to its strong growth prospects, undervalued status, impressive earnings history, and positive analyst ratings. However, it may lack momentum, so it might not be the best choice for momentum investors.

Booking (BKNG)

Booking Holdings Inc. (BKNG) is a provider of travel and restaurant online reservation and related services. The company operates several online travel companies (OTCs) that connect consumers with travel service providers worldwide. Its platforms include Booking.com, priceline.com, agoda.com, KAYAK, OpenTable, and Rentalcars.com.

Booking has been identified as one of the best stocks to buy now or put on a watch list. The company's share price has been somewhat volatile, with several moves greater than 5% in the last year. However, it has demonstrated strong financial performance and growth prospects.

In terms of financial performance, Booking reported first-quarter results that beat analysts' revenue expectations. Gross travel bookings grew 10% year-on-year, and other key demand indicators, such as hotel room nights, airline tickets, and rental car days sold, exceeded analysts' expectations. This strong performance is reflected in Booking's impressive relative strength, with an IBD Composite Rating of 97 out of 99 and an EPS Rating of 98.

Booking's share price has been on an upward trajectory, trading close to its 52-week high of $3,902 from February 2024. The stock has a market capitalization of $118.33 billion, a price-to-earnings ratio of 29.35, and a beta of 1.40. The company's revenue for the quarter was up 18.2% compared to the same quarter last year, and analysts forecast continued growth for the current fiscal year.

In terms of growth prospects, Booking has expanded its user base, and management has added positive comments on demand trends, stating that they "continued to see robust leisure travel demand" in the second quarter. Additionally, Booking has been actively buying back shares, and the company's closest peer, Expedia, reported somewhat disappointing results, which could further enhance Booking's attractiveness to investors.

Recent ratings and price target updates from brokerages include:

• Wedbush reaffirmed an "outperform" rating with a price target of $3,850.
• StockNews.com upgraded to a "buy" rating.
• B. Riley set a "buy" rating and a price target of $4,400.
• Susquehanna raised the price target to $4,100 and rated the stock "positive."
• JMP Securities raised the price target to $3,950 and rated the stock "market outperform."
• JPMorgan Chase & Co. raised the price target to $3,950 and rated the stock "overweight."

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