As the market continues to fluctuate and uncertainty looms, many investors are questioning where to put their money.
Analyst Gianni Di Poce highlighted three stocks in his weekly “Benzinga Pro Insider Report” with major upside potential in the short term.
With a high valuation, indicating high demand for shares, Pinterest Inc (NYSE:PINS) is well-positioned to benefit from the increasing trend of social media ad spend and social e-commerce sales, according to Di Poce’s report.
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Analysts expect social media ad spend to reach $79 billion annually by 2024 and social e-commerce sales to reach $107 billion annually by 2025.
The company has a solid free quarterly cash flow of $591.05 million, making Di Poce bullish on the stock. His price target is $32.00-$34.00.
At a technical level, the stock is set to break from a rounding bottom formation. Clearing the resistance area could trigger a strong rally.
Rocket Lab USA Inc (NASDAQ:RKLB) provides launch services and space system solutions for the aerospace and defense industry. The company generated $62.24 million in revenue in 2021, though Di Poce noted it still lost $117.32 million on the year.
The stock is coiling within a rounding bottom pattern, and the company has a diversified revenue stream with potential for growth.
Di Poce’s price target on Rocket Lab is $7.50-$8.00.
Thomson Reuters Corp (NASDAQ:TRI) is a business information service provider with operations across the globe, providing services to professionals in legal, tax, accounting and news & media.
The company had a record year in 2021 with revenue topping $6.3 billion and earnings coming in at $5.69 billion.
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The company’s valuation is high, and the chart shows the stock price coiling tightly within a cup and handle formation. Additionally, the company continues to see strong organic growth across all its businesses and is reducing costs to improve profitability.
Di Poce said he is bullish on Thomson Reuters so long as the stock remains above $105.00-$106.00. His upside target is $140.00-$142.00.
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