CyberArk Software, MakeMyTrip, and Churchill Downs have caught the attention of Wall Street analysts as the top 3 Best Mid-Cap stocks to buy in June 2024. These mid-cap stocks, with a market capitalization between $2 to $10 billion, offer a balance of stability and growth potential.
CyberArk Software, based in Israel, specializes in identity security solutions. Their recent acquisition of Venafi is expected to boost their revenue and margins significantly, expanding their market reach. With a strong performance in Q1 FY24 and raised full-year guidance, analysts are optimistic about CYBR stock, giving it a Strong Buy consensus rating.
MakeMyTrip, an online travel portal based in India, has seen a surge in investor sentiment with growing revenue and profits. Analysts are encouraged by the company’s expanding footprint and increasing demand in the travel industry. MakeMyTrip stock has a Strong Buy consensus rating with a price target suggesting upside potential.
Churchill Downs, an entertainment company offering racing venues and online wagering, has benefited from the reopening of economies post-COVID-19. With solid financial results in Q1 FY24 and a regular dividend payout, analysts see potential for growth in CHDN stock, giving it a Strong Buy consensus rating.
DailyBubble views these mid-cap stocks favorably, noting their strong business models and high likelihood of outperforming market expectations. Investors with a balanced risk-reward profile may find these stocks worth considering for their portfolios.