Stock Predictions: 3 Speculative Stocks Ready to Roar Into 2024

Stocks to buy

U.S. Treasury Secretary Janet Yellen recently expressed optimism about the U.S. economic outlook. This positive sentiment reflects the nation’s ongoing recovery from the pandemic, offering stability to consumers and businesses. For speculative stocks a flourishing economy typically attracts risk-tolerant investors. When the going is good, investors are often willing to buy into a higher risk stock with the potential for higher rewards. These three speculative stock predictions are ready to grow thanks to reduced inflationary concerns and Yellen’s remarks creating a favorable backdrop.

Airbus (EADSY)

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Airbus (OTCMKTS:EADSY) is one of the leading companies for designing and manufacturing aerospace-related products. In 2023, the aerospace manufacturing industry is expected to reach a valuation of $271.76 billion which is forecast to continue growing to $1.22 trillion in 2030. That is an impressive 9.8% CAGR.

Q2 2023 resulted in a strong financial outlook for Airbus. Revenue grew 24.12% year-over-year (YOY) to $15.9 billion. Net income and diluted EPS reached $1.06 billion and $1.34. That’s a 55.42% and 54.02% YOY increase, respectively.

The largest driving catalyst for Airbus in 2024 is the creation and release of the newest airplane, the A321XLR. The plane, which is planned to be commercially available in 2024, is projected to improve on current models in nearly every metric. Furthermore, sales are already guaranteed as airlines are already in line to purchase inventory. Assuming the near-guaranteed commercial success of the product, Airbus’ stock valuation should skyrocket once it hits the market. Right now analysts EADSY stock predictions have it hitting $41 in the next 12 months.

Intuit (INTU)

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Intuit (NASDAQ:INTU) is a financial, accounting and tax software supplier for consumers and small businesses. Their software is well known by most people thanks to its subsidiary companies such as TurboTax, Mint and QuickBooks.

Intuit demonstrated robust financials from 2022 to 2023, with revenue of $14.37 billion. Notably, the company achieved a remarkable 53.08% growth in free cash flow, and its operating cash flow increased by 31.80%. With a dividend yield of 0.7% and a consistent 14.89% dividend growth rate, Intuit appeals to income-focused investors. Analysts seem to agree with the INTU stock predictions showing an increase of 10% in the coming year.

Future success catalysts include international expansion, strategic acquisitions such as Credit Karma and a customer-focused culture. Intuit’s agile approach and diversified financial services portfolio provide stability and growth potential. With a strong financial performance and adaptability to technology shifts, INTU is well-positioned for ongoing success in the dynamic financial software and services industry.

Weave Communications (WEAV)

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Weave Communications (NYSE:WEAV) targets small businesses with an all-in-one communication platform.

WEAV reported solid Q2 2023 financials. Revenue of $41.7 million grew 19.4% YOY, EPS of negative 5 cents beat expectations by 2 cents, and net income of -$8.99 grew 39.33%. Moreover, WEAV stock is up 75.62% year-to-date.

The company has recently partnered with Affirm (NASDAQ:AFRM). The partnership will integrate Affirm pay-over-time options with Weave’s patient experience platform, allowing for flexible payment options. Weave has also partnered with Stripe, a financial infrastructure platform. This new multi-year agreement will process payments for Weave’s almost 30,000 specialty healthcare customers across the nation. There is plenty of room for expansion of this partnership, where Weave can leverage additional Stripe features as it expands its payments offering to customers.

A third recent notable partnership for Weave is DSN, a dental practice management software. Partnering with DSN brings Weave to 4,000+ customers, where the companies will combine DSN’s EHR solutions with Weave’s patient engagement software. Estimates have already shown the effectiveness of this partnership on DSN’s customers. Weave’s ability to form countless strategic partnerships will assist its growth in years to come.

On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

Michael Que is a financial writer with extensive experience in the technology industry, with his work featured on Seeking Alpha, Benzinga and MSN Money. He is the owner of Que Capital, a research firm that combines fundamental analysis with ESG factors to pick the best sustainable long-term investments.

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