This article looks at the 10 Most Oversold S&P 500 Stocks So Far in 2026.
The S&P 500 climbed 0.22% on Friday, May 29, to close at 7,580.06. The broad market index gained 1.49% during the week, capping off monthly returns of over 5%, boosted by technology stocks and reports that the U.S. and Iran were nearing a deal to end the war.
David Nicholas, CEO and founder of XFUNDs by Nicholas Wealth, believes the current situation is setting the market up well for further gains. He was quoted as saying the following by CNBC:
“There’s always that black swan risk that something pops off, but my gut tells me that this thing should be coming to an end very quickly. The market has priced a lot of that in, but I just think it unlocks the market to continue moving higher.”
During the week, Goldman Sachs Research also raised its outlook for the year to 8,000, up from 7,600. The firm said the rally in 2026 was largely driven by corporate earnings growth rather than rising stock valuations, and the trend is expected to continue in the back half of the year and into 2027.
The Goldman Sachs Research team also forecasts the S&P 500’s earnings per share of $340 in 2026, representing a 24% year-over-year increase, followed by 13% growth in 2027 to $385.
With that said, let’s now shift focus to the most oversold S&P 500 stocks so far in 2026. When markets rise, oversold stocks can sometimes present a lucrative buying opportunity, provided the share price dip is not due to any underlying business problems.
Photo by Mizuno K on pexels
Methodology
We used screeners to identify S&P 500 Index stocks with a Relative Strength Index (RSI) below 40 and a share price decline of at least 20% from a 52-week high, as of the close of business on May 29. From there, we selected 10 stocks with the largest share price declines and ranked them in descending order. Additionally, we also included data on hedge fund holdings in these companies as of Q1 2026 to provide further insight into investor interest.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10 Most Oversold S&P 500 Stocks So Far in 2026:
10. Conagra Brands, Inc. (NYSE:CAG)
Share Price Decline Versus 52-Week High: 42.05%
Relative Strength Index: 38.7
Number of Hedge Fund Holders: 41
Conagra Brands, Inc. (NYSE:CAG) is among the 10 Most Oversold S&P 500 Stocks So Far in 2026. On May 28, BofA analyst Peter Galbo lowered the price target on the stock to $13 from $15 and reiterated an Underperform rating.
The firm made the adjustment after it revised quarter-end sales estimates for certain packaged food companies.
This follows Wells Fargo’s update on May 18, when it maintained its Underweight rating on Conagra Brands, Inc. (NYSE:CAG) and cut the price target on the stock to $13 from $14.
As of the close of business on May 29, Wall Street has a Hold rating on the stock, based on 16 analysts’ recommendations, with an average share price upside potential of 16%.
On April 1, Conagra Brands, Inc. (NYSE:CAG) reported financial results for the third quarter of fiscal 2026. Revenue declined 1.9% year-over-year to $2.79 billion, but beat analysts’ estimates of $2.76 billion. Adjusted EPS came in at $0.39, down 23.5% from the prior year and missing expectations by one cent.
During the earnings call, management said it was trimming fiscal 2026 profit guidance to the lower end of the previously estimated range, citing heightened volatility in certain commodity markets due to the war in Iran.
Conagra Brands, Inc. (NYSE:CAG) is a North American branded food company doing business for over a century. Its brands include Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, and others.
9. Roper Technologies, Inc. (NASDAQ:ROP)
Share Price Decline Versus 52-Week High: 44.54%
Relative Strength Index: 36.57
Number of Hedge Fund Holders: 49
Roper Technologies, Inc. (NASDAQ:ROP) is among the 10 Most Oversold S&P 500 Stocks So Far in 2026. On May 19, the company said that its Board of Directors had approved a dividend of $0.91 per share.
The payment is scheduled for July 22, 2026, to all shareholders of record as of July 8, 2026. The news follows the company’s April expansion of its share repurchase program by an additional $3 billion, bringing the remaining capacity to $3.8 billion.
On April 23, Roper Technologies, Inc. (NASDAQ:ROP) declared strong results for the first quarter of 2026, with revenue growing 11% from the prior year’s period to $2.1 billion, beating estimates of $2.07 billion. Adjusted earnings per share were reported at $5.16, up 8% year-over-year, and surpassing expectations by 18 cents.
The company lifted its full-year earnings outlook to between $21.80 and $22.05, up from its prior range of $21.30 to $21.55, on the back of robust Q1 earnings and steady demand for its software products as AI adoption continues to grow.
Wall Street has a Moderate Buy rating on the stock and anticipates an average share price upside potential of 43%, as of the close on May 29.
Roper Technologies, Inc. (NASDAQ:ROP) is a diversified technology company operating businesses with expertise in delivering vertical software and technology-enabled products across several niche markets.
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