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Electric Jaguar iPace Spotted Testing Waymo Equipment In San Francisco

Although not an automotive company, Alphabet Inc (NASDAQ: GOOG) has been pursuing autonomous driving for many years through its subsidiary Waymo. The company has tackled the software side of the problem, while using vehicles from other manufacturers, namely Fiat Chrysler Automobiles NV (NYSE: FCAU), to test and rollout its accomplishments.Now a new Waymo vehicle has been spotted in the streets of San Francisco.An all-electric Jaguar iPace has been seen with a Waymo sticker in the rear window, and the familiar self-driving hardware seen on the top and sides of the vehicle. This is an environmental plus over the old Chrysler minivan currently in use. Notably, the car also had a Michigan license plate.> Our second sighting of the all electric Jaguar I-Pace testing with Waymo in San Francisco! pic.twitter.com/oDpHHbJWZS> > -- The Kilowatts (@klwtts) November 16, 2020See more from Benzinga * Click here for options trades from Benzinga * Waymo Suggests 'Orders Of Magnitude More Advanced' Than Tesla's Full Self-Driving Approach(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Read More...

TipRanks

Bank of America: 3 Strong Value Stocks to Buy Now

The prospect of a COVID-19 vaccine hitting the market in coming months – rather than years – and chance it offers to control the novel virus, has investors in a mood to buy, and fueled the market gains. The S&P 500 is up more than 10% so far in November. So which stocks should you be looking at now?Bank of America analysts have tagged three tech-oriented stocks as likely gainers. All three fit a profile: they boast a Strong Buy analyst consensus rating, and BofA sees their upside potentials starting at 30% and heading up from there. Wix.com, Ltd. (WIX)We’ll start with Wix, the DIY of website construction. Since it hit the scene 14 years ago, this company has built a reputation as the one-stop shop for website construction, building its business on the ‘freemium’ model, offering customers – who are not necessarily website experts – the ability to build and maintain a site – for free. More advanced tools and support are available through the subscription service. It’s a viable model, filling a real need, as evidenced by the company’s $700-plus million in annual revenue.More to the point, WIX shares are up 95% year-to-date, with the growth really taking off in May. Wix’s quarterly revenues have also showed a pattern of increase through 2020, with sequential gains in Q1, Q2, and Q3. The Q3 number hit $254 million.Covering Wix for BofA, 5-star analyst Nat Schindler writes, “We see a big opportunity for Wix to continue its strong momentum as businesses shift online. Wix’s commitment to maintain its aggressive marketing push should ultimately lead to a significant revenue expansion opportunity in out years… we expect 2020 marketing efforts will leave Wix in a strong position heading into 2021.”In line with his comments, Schindler rates WIX a Buy, and his $350 price target implies an upside of 47% for the next 12 months. (To watch Schindler’s track record, click here)Overall, Wix’s shares have a Strong Buy analyst consensus based on 8 reviews, breaking down to 7 Buys and 1 Hold. The stock is selling for $238.27, and its $323.13 average price target suggests room for 35% upside growth next year. (See Wix stock analysis on TipRanks)Peloton Interactive (PTON)Next up, Peloton, is an upscale exercise equipment manufacturer. Peloton’s home exercise bikes offer users opportunity to connect online to classes, instructors, music, and other content designed to make spinning more endurable at home. Exercise is a necessity, but we all know how difficult it can be to stick to regimen solo; Peloton uses connected tech to fill the gap for well-heeled customers willing to spend extra to stay in shape and comply with social lockdown rules.5-star analyst Justin Post, rated 26 overall in the TipRanks database, wrote the Bank of America note on Peloton, and he sees both a solid position now and a clear path forward for the company.“[We] think Peloton is building a content advantage that starts with its premium instructors. Peloton’s deal with Beyoncé will add new premium content, and we can envision deals with other recording artists and sports personalities… We also note that the 25-34 group is the fastest growing segment for Peloton bike consumers, a huge opportunity for Peloton. When bike demand eventually slows, Peloton can lower bike ASPs, launch CPO (Certified Pre-owned) bikes and add more targeted content partnerships, which should further unlock demand in this age group,” Post wrotePost gives the stock a $150 price target, implying a 49% one-year upside, and rates it a Buy. (To watch Post’s track record, click here)The Strong Buy analyst consensus rating on Peloton is based on no fewer than 22 Buy reviews, which outweigh 3 Holds and 1 Sell. PTON’s average price target is $133.12, suggesting a 32% upside form the current trading price of $100.30. (See PTON stock analysis on TipRanks)Avalara, Inc. (AVLR)Last but not least is Avalara, a provider of cloud-based software for automating business tax compliance. Tax codes – especially across international borders or other jurisdictional boundaries – are complicated, and Avalara bill itself as a solution for small- and mid-sized businesses remain in compliance with various laws. The company’s platform integrates business, tax, and accounting apps for customers around the world. And at a time when it may not be possible for a small business to just phone up the tax guy and make an appointment to go over the books, an automated solution can be a lifesaver.In his note of the stock for BofA, Brad Sills, another of the firm’s 5-star analysts, sees what he describes as a ‘long runway for growth.’“Billings reaccelerated to 30%+ from 22% in Q2, and indicates that Avalara is a beneficiary of omnichannel sales adoption in SMBs, which drives more complexity in sales tax calculation and filings. While the quarter benefitted from some pent-up demand, we believe these underlying demand drivers are sustainable long term, given increased tax compliance pressure from states and local governments,” Sills commented. Sills rates AVLR shares as a Buy, calling it his top pick. His $200 price target indicates confidence in 32% growth going forward. (To watch Sills’ track record, click here)All in all, Avalara’s Strong Buy rating from the analyst consensus is unanimous, with 10 Buys behind it. The stock is selling for $151, and its $186.3 average price target implies an upside of ~22% for the next 12 months. (See AVLR stock analysis at TipRanks)To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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