We're Buying More Shares of These 2 Portfolio Holdings
Here's why we are putting additional capital to work and also lifting our rating to a One for one name.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shared Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
ESTC | Buy | 132 | 103.35 | 1,712 | 3.6 |
META | Buy | 55 | 597 | 240 | 2.9 |
After you receive this Alert we will make the following trades:
-- Buy 132 shares of Elastic ESTC at or near $103.35. Following the trade, ESTC shares will account for roughly 3.6% of the portfolio’s assets.
-- Buy 55 shares of Meta Platforms META at or near $597. Following the trade, META shares will account for roughly 2.9% of the portfolio’s assets.
We are putting additional capital to work as the market appears to be finding its footing even as the risk of a potential government shutdown looms. Similar to our moves yesterday with Eaton ETN and ServiceNow NOW, we are using the recent pressure in the market to scoop up shares of Elastic and Meta.
Elastic is well positioned as AI adoption accelerates in the Enterprise, and we see Meta continuing to use the technology to improve its costs as it looks to further monetize its various platforms. Both are poised to deliver double-digit EPS growth in 2025, but as we discussed in our Alerts discussing their latest quarterly results, there are reasons to think those figures may be conservative.
As we make this trade, we will upgrade the shares to a One rating given the upside to our ESTC price target of $135.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to click on Closed Trade Gain/Loss and toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long ESTC, META, ETN and NOW.
