Street

The macroeconomic picture – and the longer-term expectations for certain stocks – is becoming clearer as earnings season continues.

Joel Anderson, CEO, Five Below  © Provided by CNBC Joel Anderson, CEO, Five Below 

To that effect, some of the top Wall Street analysts have high hopes for Toast, Apple, Five Below, Freshworks and IMAX, according to TipRanks, which tracks the best-performing stock pickers. Indeed, Apple and IMAX are among the companies reporting in the upcoming week.

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Let's take a deeper dive into these stocks, and see why the analysts are fans.  

Toast

These days it appears nearly every aspect of life is moving toward cloud-computing solutions, and for good reason. Many companies offer their customers a medium through which convenience and efficiency are increased, driving enterprises toward their full potential.

This is also true for the restaurant industry, as Toast (TOST

) has been leveraging this relatively unpenetrated market to surge to prominence. (See Toast Insider Trading Activity on TipRanks) 

Mayank Tandon initiated coverage on the stock for Needham & Co., writing that Toast "operates a comprehensive restaurant [point of sale] and management platform that combines modern payment processing and software solutions to help restaurants effectively grow and manage day-to-day operations." 

Tandon rated the stock a Buy, and provided a price target of $70.  

The five-star analyst asserted that the firm has potential to increase its serviceable available market over seven times its current size. He figures this is the case because the company has yet to go international and will most likely have new innovations down the road.  

While Toast offers both software and hardware, Tandon anticipates the former to represent the majority of its revenue generation. After acquiring existing restaurants, TOST can cross-sell its "payroll, online ordering, and loyalty program management." The analyst believes this positioning is highly advantageous for the company in regard to expanding and recurring revenues.  

After weathering the Covid-19 pandemic by vastly widening its serviced restaurant pool, Toast is prepared for more economic reopening activity to aide in its "land and expand" strategy.  

On TipRanks, Tandon maintains a position of No. 99 out of more than 7,000 financial analysts. His ratings have thus far resulted in success 67% of the time, and have returned an average of 42.8% on each one.  

Apple

Apple (AAPL

) has always had an enthusiastic following of devotees, but now it appears any time the company launches new products, nearly every form of news covers it in some way. This kind of free publicity dramatically lowers Apple's ad expenses and drives margins. (See Apple News Sentiment on TipRanks) 

Laura Martin of Needham & Co. mentioned this detail in her recent report, adding that the "rabid fandom" surrounding Apple has reached a point where the company can release hours of infomercials in a 30-day span and still get so much free coverage. This is a phenomenon which she asserted is not experienced by any other firm in regard to its brand awareness.  

Martin is bullish on the stock, and rated it as a Buy. The highly ranked analyst decided on a price target of $170.  

Moreover, during the keynote presentation, Apple focused again on benefits seen from its in-house silicon chips, which have been "improving speeds, memory, graphics and editing capabilities and battery life" in its products. Martin contended that the vertical integration raises moats around Apple and insulates it from competitors who are using out-sourced chips.  


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