Tracking QQQ Stock Progress
The Invesco QQQ ETF has seen a 2.23% decline in the past five days but has also witnessed a notable rise of about 12.91% since the beginning of the year.
Analyst Sentiment and Price Projection
Based on TipRanks’ distinctive ETF analyst consensus, calculated from the average ratings of its holdings, QQQ is categorized as a Moderate Buy. Analysts on Wall Street have set an average price target of $547.43, suggesting a potential upside of 18.74%.
Top Performers and Underperformers
Among QQQ’s top five holdings with promising upside potential are Micron Technology (MU), PDD Holdings (PDD), Moderna (MRNA), Super Micro Computer (SMCI), and Dexcom (DXCM).
Conversely, the ETF’s five holdings with downside potential consist of Tesla (TSLA), American Electric Power (AEP), Fortinet (FTNT), Paychex (PAYX), and Cintas (CTAS).
Smart Score and Investment Outlook
Notably, the QQQ ETF boasts a Smart Score of eight, indicating a high probability of outperforming the overall market.
Enhancing ETF Investment Strategies
For investors looking to enhance their ETF portfolios, TipRanks offers insights into the Top Equity ETFs with High Upside Potential, meticulously selected based on their analysis.