11 Oversold NASDAQ Stocks to Buy Right Now

Page 6 of 10

5. Weatherford International plc (NASDAQ:WFRD)

Perf YTD: -41.20%

Analyst Upside: 82.81%

Number of Hedge Fund Holders: 36

Weatherford International plc (NASDAQ:WFRD) provides services and equipment to the natural gas and oil exploration and production industry. The company has operations in the Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI) segments. The WCC segment includes liner hangers, tubular running services, cementation products, well services, and completions, while the DRE segment offers drilling services, drilling fluids, wireline, and managed pressure drilling. The company’s PRI segment manages pressure pumping services, production automation and software, artificial life, sub-sea intervention, and more.

On April 23, analyst James Rollyson from Raymond James maintained a Buy rating on Weatherford International plc (NASDAQ:WFRD), reducing the price target to $69.00 from $73.00. The analyst stuck to a Buy rating due to the company’s future growth potential. He opined that while Weatherford International plc (NASDAQ:WFRD) is facing challenges such as asset divestitures and weaker market conditions, it has demonstrated resilience by focusing on maintaining a strong balance sheet, free cash flow conversion, and shareholder returns. These strategic priorities support the company’s favorable market standing in the face of downturns, positioning it in the fifth spot on our list of oversold NASDAQ stocks to buy right now.

The analyst further said that Weatherford International plc (NASDAQ:WFRD) surpassed expectations with its latest financial performance, with revenues exceeding its guidance’s midpoint and adjusted EBITDA following closely behind. Its initiatives to streamline its operations, such as the sale of some businesses, have slashed capital intensity and brought in significant proceeds, supporting the Buy rating.

Page 6 of 10