2 Undervalued Stocks To Check Out In The Stock Market Today
Undervalued stocks are a great way to make money in the stock market. But what exactly is an undervalued stock? Undervalued stocks are simply stocks that are trading below their intrinsic value. In other words, they are worth more than the current market price. Many factors can contribute to a stock being undervalued, such as poor recent performance, negative analyst recommendations, or simply being out of favor with investors.
However, smart investors know that undervalued stocks can be a great opportunity to buy low and sell high. With a little research, it is possible to find hidden gems in the stock market that are poised for a rebound. So don’t be afraid of undervalued stocks; they just might be the key to making big profits in the stock market today. If you’re keen on finding undervalued stocks in the market right now, here are two to check out.
Undervalued Stocks To Watch Right Now
- Adobe Inc. (NASDAQ: ADBE)
- Amazon.com Inc. (NASDAQ: AMZN)
Adobe (ADBE Stock)
First, Adobe Inc. (ADBE) is an American multinational computer software company headquartered in San Jose, California. Adobe has historically focused on the creation of multimedia and creativity software products, with a more recent foray towards digital marketing software. Just this week, Adobe announced it will release its 3rd quarter fiscal year 2022 results after the market closes on Thursday, September 15, 2022.
In the meantime, let’s take a look back at the company’s most recent quarterly financial results. In detail, Adobe reported second quarter 2022 earnings per share of $3.36, with revenue of $4.4 billion. This is compared with consensus estimates for the quarter which were earnings of $3.31 per share, and revenue of $4.3 billion. Moreover, revenue increased 14.4% during the same period, in 2021.
Aside from that, Adobe provided an outlook for its third quarter results. Specifically, the company reported its estimated Q3 non-GAAP earnings of $3.33 per share, with revenue of nearly $4.43 billion. Despite these results, shares of ADBE stock are down over 32% so far in 2022. ADBE stock closed Thursday’s trading session at $383.63 per share. As we wait to see the third quarter’s results, do you think ADBE is a good undervalued stock to invest in for 2022?
Amazon.com (AMZN Stock)
Next, Amazon.com Inc. (AMZN) is an American multinational technology company based in Seattle, Washington. In brief, Amazon focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. For context, Amazon is one of the Big Four technology companies, along with Google (NASDAQ: GOOGL), Apple (NASDAQ: AAPL), and Meta Platforms (NASDAQ: META).
In July, Amazon reported its second quarter 2022 financial results. Diving straight in, the company reported earnings of $0.10 per share, with revenue of $121.1 billion. This is in comparison with analysts’ consensus estimates for Q2 of earnings per share of $0.15, and revenue of $119.5 billion. In addition, Amazon also announced upbeat guidance for the 3rd quarter of 2022. In the letter to shareholders, the company announced it estimates third-quarter revenue in the range of $125.0 billion to $130.0 billion.
Separate from that, in August, Amazon announced they will acquire iRobot. The details of the deal include, that Amazon will buy iRobot for $61 per share in an all-cash transaction valued at approximately $1.7 billion. In 2022 so far, AMZN stock is still down over 23%. This could present an opportunity for investors to buy AMZN stock at a discount. With this in mind, will you be adding AMZN stock to your watchlist right now?
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