12 Best Internet of Things Stocks To Buy According to Analysts

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3. Sensata Technologies Holding plc (NYSE:ST)

Analyst Upside Potential: 25.25%

Sensata Technologies Holding plc (NYSE:ST) is a company that specializes in creating and selling sensors and related technologies. These sensors are used to detect various conditions like pressure, temperature, or speed in different industries. It operates through two main areas: Performance Sensing and Sensing Solutions. The Performance Sensing business focuses on the automotive industry and heavy vehicles like construction equipment. Whereas, the Sensing Solutions segment serves industries outside of automotive, such as aerospace, industrial manufacturing, HVAC systems, renewable energy systems, and more.

On February 12, Joseph C Giordano, an analyst at TD Cowen maintained a Buy rating on the stock while keeping the price target of $45. The Performance Segment of Sensata Technologies Holding plc (NYSE:ST) is the main revenue contributor for the company. During the fiscal year 2024, the segment generated $2.74 billion and held steady despite market contraction. Management noted that it is focusing on three main pillars including returning to growth through innovation and strategic customer partnerships, operational excellence to deliver high-quality products efficiently, and free cash flow generation, reducing net leverage, share repurchases, and maintaining dividends. Sensata Technologies Holding plc (NYSE:ST) is well-positioned across its business segments with a diverse product portfolio serving automotive (ICE & EV), industrial, and aerospace markets, making it one of the best Internet of Things stocks to buy according to analysts.

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