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Are These High-Growth Tech Stocks Trading at a Discount?

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ServiceNow

High-growth tech stocks have made a massive comeback this year after a volatile 2018. Some companies have seen falls since reporting mixed quarterly results, but ServiceNow has continued to gain following its first-quarter earnings release. So what do investors do now? Will these stocks rise, or are they due for a correction? Let’s see how they’re trading with respect to Wall Street’s average estimates.

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ServiceNow (NOW) stock has risen 51% in 2019. Of the 24 analysts covering ServiceNow, 30 have given it “buys,” four have given it “holds,” and none have given it “sells.” ServiceNow’s 12-month average target price is $276.74, indicating that the stock is trading at a discount of 3% to analysts’ average estimate.

Arista Networks

Arista Networks (ANET) stock has risen 32% in 2019. Of the 25 analysts covering Arista, 16 have given it “buys,” nine have given it “holds,” and none have given it “sells.” Arista’s 12-month average target price is $317, indicating that the stock is trading at a discount of 14% to the average estimate.

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Splunk

Splunk (SPLK) stock has risen 29% in 2019. Of the 43 analysts covering Splunk, 33 have given it “buys,” ten have given it “holds,” and none have given it “sells.” Splunk’s 12-month average target price is $151.66, indicating that the stock is trading at a discount of 12% to the average estimate.

Square

Square (SQ) stock has risen 22% in 2019. Of the 31 analysts covering Square, 17 have given it “buys,” 14 have given it “holds,” and none have given it “sells.” Square’s 12-month average target price is $82.91, indicating that the stock is trading at a discount of 21% to the average estimate.

iRobot

iRobot (IRBT) stock has gained 25% in 2019. Of the eight analysts covering IRBT, two have given it “buys,” five have given it “holds,” and one has given it a “sell.” IRBT’s 12-month average target price is $111.60, indicating that the stock is trading at a discount of 6.4% to the average estimate.

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