Pros' Picks: The 15 Best Nasdaq Stocks You Can Buy
It has been noted ad nauseam that the stock market doesn't appear to reflect the worst economic slowdown since the Great Depression. The Dow Jones Industrial Average is down "only" 17% for the year to date, while the S&P 500 is off "just" 11%.
If that bothers you, don't even look at the Nasdaq Composite. This tech-heavy index of Nasdaq-listed stocks is actually positive, albeit barely, for 2020.
Whether share prices adequately discount the potential damage caused by the global lockdown and a prolonged recession is a discussion for another time. Besides, investors usually find it more profitable not to fight the tape.
With that in mind, we went searching for the Nasdaq stocks that analysts say have the best prospects for outperformance going forward.
We screened the Nasdaq Composite for stocks followed by a minimum of 10 analysts. We further whittled the list down to stocks with an average broker recommendation of Buy or better. S&P Capital IQ surveys analysts' stock ratings and scores them on a five-point scale, where 1.0 equals Strong Buy and 5.0 means Strong Sell. Any score of 2.0 or lower means that analysts, on average, rate the stock a Buy. The closer the score gets to 1.0, the stronger the Buy call. Lastly, we dug into research, analysts' estimates and other data on the top-scoring names.
The process gave us a host of stocks, from small biotechnology plays to some of the biggest, best-known companies in the world. Have a look at 15 of the best Nasdaq stocks, according to the pros.
Dexcom
Market value: $37.9 billion
Analysts' average recommendation: 1.62
It's counterintuitive at first, but a few parts of the health care sector are actually taking a beating from COVID-19. Fear is prompting patients with non-coronavirus conditions and illnesses to stay away from medical practitioners and hospitals in droves.
That's a challenge for Dexcom (, $410.80), a company that makes glucose monitoring systems for patients with diabetes. Nonetheless, analysts remain optimistic about the
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