In this article, we will explore the 10 Best M&A Target Stocks to Buy Now.
Mergers and acquisitions are moving back into focus after a choppy stretch for dealmaking. Global M&A activity improved in 2025, helped by a recovery in larger strategic transactions, though the rebound remained uneven as buyers continued to face valuation gaps, financing costs, and policy uncertainty. PwC described the market as one where better-capitalized companies are driving bigger transactions, while McKinsey noted that global M&A activity rose to 4.2% of total market value in 2025 from 3.3% a year earlier, still below the 10-year average of 5.3%.
That backdrop has made potential takeover targets more interesting for investors. Private equity firms are again looking at larger and more complex transactions as financing conditions stabilize, while strategic buyers remain focused on assets that can add scale, technology, brands, infrastructure, or specialized capabilities. Reuters has also reported a pickup in targeted deal activity in areas such as biotech, where first-quarter 2026 deal value nearly doubled from a year earlier, indicating that buyers remain willing to pay for assets that solve clear strategic problems.
The best M&A target stocks are not simply companies with depressed share prices. They tend to combine identifiable strategic value with activist pressure, sale-process reports, private-equity interest, or industry consolidation tailwinds. This list focuses on companies where recent developments suggest a credible takeover angle rather than vague market rumors.
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Methodology
We selected M&A target stocks by reviewing companies with recent, credible takeover signals, including reported sale processes, activist pressure for strategic alternatives, private-equity interest, strategic-buyer interest, or board-level review activity. We finally ranked these stocks in descending order by short percentage of float, sourced from stockanalysis.com.
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10. The Wendy’s Company (NASDAQ:WEN)
Short Percentage of Float: 30.41%
The Wendy’s Company (NASDAQ:WEN) is one of the best M&A target stocks to buy now.
The Wendy’s Company (NASDAQ:WEN) moved back into the takeover spotlight on May 12 after Reuters reported, citing the Financial Times, that Nelson Peltz’s Trian Fund Management was exploring funding for a possible take-private bid for the fast-food chain. The report said Trian was seeking financial backing, including from Middle Eastern investors, and came after a February filing in which Peltz said Wendy’s shares were undervalued and disclosed discussions with potential financing sources, co-investors, and strategic partners about possible transactions involving control of the company. Peltz held a 16.24% stake in Wendy’s, while Trian’s stake had risen to 7.85%, according to Reuters.
The potential M&A angle comes as Wendy’s is working through weaker U.S. trends while still showing international growth. On February 13, the company said full-year 2025 global systemwide sales fell 3.5%, while international systemwide sales grew 8.1%, supported by 121 net new international restaurants. The company also said it was making progress on its Project Fresh turnaround plan in the U.S.
The Wendy’s Company (NASDAQ:WEN) operates and franchises quick-service restaurants across the U.S. and international markets.
9. MarineMax, Inc. (NYSE:HZO)
Short Percentage of Float: 17.68%
MarineMax, Inc. (NYSE:HZO) is one of the best M&A target stocks to buy now.
MarineMax, Inc. (NYSE:HZO) has one of the clearer live takeover setups on this list. On May 7, Reuters reported that the recreational yacht retailer was preparing to sell itself, with its board agreeing in April to allow the sale process to enter a second round. The report said activist investor Donerail Group recently raised its earlier $35-per-share all-cash offer, which had valued the company at nearly $1 billion, while Blackstone was also conducting due diligence. Reuters also reported that Blue Compass, Island Capital Group, and TPG had previously expressed interest, giving the situation a broader buyer universe rather than a single-bidder story.
The M&A angle is helped by MarineMax’s mix of yacht retail, marinas, and services, which gives potential buyers both cyclical boat sales exposure and higher-margin recurring marine infrastructure. The company reported fiscal second-quarter 2026 revenue of $527.4 million on April 23, while same-store sales fell 15% in a challenging environment. However, gross margin was 34.4%, helped by higher-margin businesses, and inventories fell $128 million year over year.
MarineMax, Inc. (NYSE:HZO) is the world’s largest recreational boat and yacht retailer, marina operator, and superyacht services company, with over 120 locations worldwide, including more than 70 dealerships and 65 marina and storage facilities.
8. BILL Holdings, Inc. (NYSE:BILL)
Short Percentage of Float: 15.36%
BILL Holdings, Inc. (NYSE:BILL) is one of the best M&A target stocks to buy now.
BILL Holdings, Inc. (NYSE:BILL) remains a credible M&A target because its takeover angle is tied to both activist pressure and reported private-equity interest. Reuters noted on May 7 that BILL had been exploring a sale under pressure from activist investors such as Elliott Investment Management, which had built a large stake in the company. The sale exploration had originally been reported in November 2025, while BILL’s shares later jumped in February 2026 on reports that Hellman & Friedman was in talks to buy the company. Reuters had also reported in September 2025 that Elliott owned roughly 5% of BILL, while Starboard Value had built an 8.5% stake and nominated four directors, intensifying pressure on the financial-automation software company.
The company is also trying to improve profitability, which can make the asset easier for financial buyers to underwrite. On May 7, BILL reported fiscal third-quarter 2026 revenue of $406.6 million, up 13% year over year, while core revenue rose 16% to $371.1 million. The company also announced a $1 billion share repurchase authorization and said it was cutting about 30% of its workforce to improve efficiency.
BILL Holdings, Inc. (NYSE:BILL) provides cloud-based financial operations software for small and midsize businesses, including accounts payable, accounts receivable, spend management, payments, and related automation tools.
7. Alkami Technology, Inc. (NASDAQ:ALKT)
Short Percentage of Float: 14.05%
Alkami Technology, Inc. (NASDAQ:ALKT) is one of the best M&A target stocks to buy now.
Alkami Technology, Inc. (NASDAQ:ALKT) remained an M&A candidate after Reuters reported on April 1 that activist investor Jana Partners had disclosed a 5.1% stake in the digital banking software company. Reuters noted that Jana had previously urged Alkami to explore a sale to either a rival or a private equity firm, citing Bloomberg’s December report. The activist’s position gives the takeover angle a clearer shareholder-pressure component rather than relying only on broad fintech consolidation chatter.
The earlier sale push was tied to Jana’s view that Alkami was trading at a substantial discount after its shares had fallen sharply in 2025. Alkami’s business could be attractive to buyers because it provides cloud-based digital banking technology to banks and credit unions, a market where larger financial technology providers and private equity firms may value recurring software revenue and a specialized customer base. On April 29, the company reported first-quarter 2026 revenue of $126.1 million, up 29% year over year, and annual recurring revenue of $493.6 million, up 22%, adding a growth profile to the strategic-interest case.
Alkami Technology, Inc. (NASDAQ:ALKT) provides a cloud-based digital banking platform for financial institutions in the U.S., including banks and credit unions.
6. BlackLine, Inc. (NASDAQ:BL)
Short Percentage of Float: 13.54%
BlackLine, Inc. (NASDAQ:BL) is one of the best M&A target stocks to buy now.
BlackLine, Inc. (NASDAQ:BL) reported first-quarter 2026 revenue of $183.2 million on May 5, up 9.7% year over year, while non-GAAP operating margin expanded to 21.6% from 20.9% a year earlier. The company also guided for full-year 2026 revenue of $765 million to $769 million and non-GAAP operating margin of 24.0% to 24.5%, giving potential buyers a profitable software asset with recurring enterprise demand in accounting and finance automation.
The M&A angle remains active because BlackLine’s strategic committee has already been given authority to lay the groundwork for a potential merger or sale. Reuters reported on March 10 that the move followed a settlement with activist investor Engaged Capital, which had pushed for board changes and strategic alternatives. BlackLine has also attracted strategic-buyer interest before: Reuters reported in October 2025 that SAP had offered to buy the company for nearly $4.5 billion, or $66 per share, in June 2025, but the approach was rejected.
BlackLine, Inc. (NASDAQ:BL) provides cloud-based software that automates accounting and finance operations, including financial close, consolidation, intercompany accounting, invoice-to-cash, and related workflows.
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