Amidst the cacophony of headlines surrounding top-tier innovators, the allure of the best Nasdaq stocks beckons, a siren’s call in the sea of financial markets. Yet, let’s pivot away from the glaring lights and pivot toward the shadows, where hidden gems lie waiting to be unearthed.
This isn’t about abandoning your safe semiconductor bets for the allure of gold. Rather, it’s a call to explore lesser-known enterprises that have quietly built their foundations amidst the chaos. In the oft-overlooked corners of the market, there are whispers of companies poised to disrupt the status quo on Wall Street.
For those who choose to dance to the beat of their own drum, here are the carefully curated best Nasdaq stocks to consider acquiring now.
CyberArk Software (CYBR)
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Hailing from the tech Mecca of Israel, CyberArk Software (NASDAQ:CYBR) and its subsidiaries craft cutting-edge software-based identity security solutions. With a footprint across the U.S., Europe, the Middle East, Africa, and beyond, CyberArk offers a suite of security offerings including risk-based credential security, access management, and adaptive multi-factor authentication. The stock has surged nearly 23% since the year’s commencement.
Although the 88% uptick in the past 52 weeks may raise eyebrows, it could just be the opening act for CyberArk. In a world where digital malevolence grows ever more complex, prevention holds the key. The cost of a cyber breach could dwarf company revenues, underlining the paramount importance of proactive security measures.
Analysts anticipate a robust EPS of $1.75 on sales nearing $927.23 million for fiscal 2024. These estimates appear measured, given last year’s performance of $1.12 earnings per share on $751.89 million in revenue.
Backed by a consensus “strong buy” rating and a $297.84 price target, forecasting a fruitful 12% upside, CyberArk emerges as a dark horse among the best Nasdaq stocks to acquire.
Wix (WIX)
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Operating in the vanguard of Nasdaq stocks, Wix (NASDAQ:WIX) stands as a unique specimen amidst the financial flora. Stationed in Israel, Wix operates a cloud-based web development platform that empowers creators worldwide to bring visions to life. At its core lies the Wix Editor, offering a user-friendly visual development environment.
In the financial ecosystem, backing enterprises that fuel small business growth can yield handsome returns. Small businesses not only drive the economy but also serve as hotbeds of innovation and employment generation. WIX has climbed 17% year-to-date and 44% in the past year, showcasing a trajectory of success.
Forecasts for fiscal 2024 paint a picture of EPS hitting $4.84 with revenues touching $1.75 billion. These projections resonate with the platform’s relevance, reflecting last year’s earnings of $4.39 per share on $1.56 billion in revenue.
Analysts stamp Wix with a resounding “strong buy” rating, attaching a $157.29 price target that implies a tantalizing 14% growth potential, positioning Wix among the finest Nasdaq stocks to claim.
Marvell (MRVL)
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Within the semiconductor realm, Marvell Technology (NASDAQ:MRVL) stands as a purveyor of data infrastructure semiconductor solutions spanning from data center cores to network edges. Crafting sophisticated system-on-a-chip architectures with analog, mixed-signal, and digital signal processing, Marvell is a linchpin in the tech ecosystem. Its value skyrocketed by nearly 22% since the year commenced.
In the last 52 weeks, MRVL has surged by 66%, a testament to its relevance in the artificial intelligence arena. Despite a soft guidance patch, the datacenter segment remains confident, riding the wave of AI optimism with a robust 54% YOY growth.
Though fiscal 2025 forecasts a revenue dip to $5.32 billion, marking a 3.3% decline from the previous year’s $5.51 billion, the tide turns favorably in 2026. Estimates peg Marvell’s revenue at $6.95 billion, reflecting a promising 30.5% YOY surge.
Analysts’ vote of confidence shines with a consensus “strong buy” rating, coupled with a $90 price target implying a robust 27% growth trajectory. Marvell emerges as a beacon among Nasdaq stocks beckoning savvy investors.
Josh Enomoto, a former senior business analyst for Sony Electronics, neither directly nor indirectly holds any positions in the securities discussed in this article. The views expressed herein represent the writer’s opinions and are subject to the InvestorPlace.com Publishing Guidelines.
