Leading off our list is cloud-computing software specialist Salesforce, on which Oppenheimer reiterated its outperform rating late last month.
Along with the bullish stance, Schwartz raised his price target on the stock from US$265 to US$290, representing 10% worth of upside from current levels. In a note to investors, Schwartz said the stock is worth owning because of Salesforce’s large market opportunity, leadership position and predictability.
Schwartz also applauded Salesforce’s decision to acquire communication software specialist Slack Technologies for US$27.7 billion. Wall Street largely down-thumbed the decision, but Schwartz argues, “The deal is pricey but supports CRM’s long-term growth ambition.”
With the stock off about 4% over the past week, now might be a good time to bet on that ambition using a free investing app.
Next up, e-commerce platform giant Shopify, which Schwartz maintains has an outperform with a price target of US$1,700 per share. In other words, the analyst still sees upside of about 14% from where Shopify currently trades.
In a note to investors earlier this year, Schwartz wrote that the company is a significant part of a “very large and accelerating market.” He also highlighted the company’s still massive international growth opportunities as the pandemic continues to fuel e-commerce.
In the company’s most recent quarter, earnings clocked in at US$879 million as total revenue spiked 57% over the year-ago period to US$1.1 billion.
Shopify shares have traded sluggishly in recent weeks and are down 4% over the past few days, giving contrarian tech investors something to think about.
Rounding out our list is cloud-based technologist Sprinklr, which Schwartz recently initiated with an outperform rating. He planted a US$29 price target on the stock, representing a significant upside of 65% from current levels.
In an investor note, Schwartz expressed confidence in Sprinklr’s long-term growth potential, mentioning the company’s leadership position in experience management, increasingly important real-time solutions and strong internal returns on investment.
Schwartz also highlighted Sprinklr’s pedigree and experienced management team as reasons to be bullish about the company’s ability to compete against cloud computing giants like Salesforce, Microsoft and Oracle.
Sprinklr shares are down double digits since their IPO earlier this summer, suggesting the stock could have room to run for the rest of 2021.
Go down a different path
There you have it: three Oppenheimer-approved stocks worth checking out.
Even if you don't agree with Oppenheimer's Schwartz on these specific picks, you should still look to implement the time-tested strategy of investing in attractive assets at discounted prices.
Those looking to take control of their investments should certainly explore online trading platforms. The best sites offer resources and tools to help investors make informed decisions as they build and manage their investment portfolios. Going with a robo-advisor can also be a stress-free way to start investing.
Or, if you're looking for something really different, try investing in shares of the art world's greatest masterpieces by artists like Banksy, Monet and Warhol.
Fine art as an investment
Stocks can be volatile, cryptos make big swings to either side, and even gold is not immune to the market’s ups and downs.
That’s why if you are looking for the ultimate hedge, it could be worthwhile to check out a real, but overlooked asset: fine art.
Contemporary artwork has outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.
And it’s becoming a popular way to diversify because it’s a real physical asset with little correlation to the stock market.
On a scale of -1 to +1, with 0 representing no link at all, Citi found the correlation between contemporary art and the S&P 500 was just 0.12 during the past 25 years.
Earlier this year, Bank of America investment chief Michael Harnett singled out artwork as a sharp way to outperform over the next decade — due largely to the asset’s track record as an inflation hedge.
Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultrarich. But with a new investing platform, you can invest in iconic artworks just like Jeff Bezos and Bill Gates do.