Wall Street Analysts Are Bullish on These 5 Stocks with Increasing Price Targets

03. Shockwave Medical, Inc. (NASDAQ:SWAV)

Upside Potential: 50%

Needham & Company LLC has decided to raise its target for Shockwave Medical, Inc. (NASDAQ:SWAV), increasing it from $325 to $330. This upward revision in the target price signifies Needham’s updated evaluation of Shockwave Medical, Inc. (NASDAQ:SWAV) potential stock value, implying a positive outlook for the company’s performance in the market. The new target of $330 reflects a notable increase from the previous target of $325, indicating Needham’s heightened confidence in Shockwave Medical, Inc. (NASDAQ:SWAV) growth prospects. The shift is aligned with their positive sentiment on the stock.

It’s noteworthy that despite this target adjustment, Needham & Company LLC maintains its “Buy” recommendation for Shockwave Medical, Inc. (NASDAQ:SWAV). This suggests that Needham sees significant upside potential in the stock and believes it’s a favorable investment opportunity.

Alger Small Cap Focus Fund made the following comment about Shockwave Medical, Inc. (NASDAQ:SWAV) in its Q4 2022 investor letter:

“ShockWave Medical, Inc. (NASDAQ:SWAV) provides novel solutions for treating patients with peripheral and coronary artery diseases. Their Intravascular lithotripsy (IVL) system delivers sonic pressure waves via a specialized catheter to crack calcium, allowing a safe and easy-to-use treatment that enables better patient results. Shares underperformed during the period as the company reported modest fiscal third quarter results versus analyst estimates However, we continue to believe the company is well positioned to gain momentum in the coronary and peripheral markets, driven by new account growth and accelerating utilization.”