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Top Stock Picks for Week of October 7, 2024

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MicroStrategy Incorporated (MSTR - Free Report) , a leading worldwide provider of business intelligence software. MicroStrategy provides a comprehensive platform that enables organizations to analyze and visualize their data to make informed business decisions. The company’s tools allow for data discovery and exploration, interactive dashboards, data visualization, and reporting capabilities. Before its initial public offering (IPO) in 1998, MicroStrategy signed its most prominent client, the fast-food giant McDonald’s (MCD). In late 2020, Michael Saylor, MSTR’s founder and CEO at the time (now Executive Chairman), decided to take action and adopt what he refers to as the “Bitcoin Standard.” Michael Saylor, who is an eccentric MIT graduate, entrepreneur, and business executive, became fascinated with the uniqueness of Bitcoin and saw it as an alternative to the current monetary system. A lot has changed since Saylor’s initial Bitcoin-inspired epiphany. MSTR now owns more than 140,000 Bitcoin worth roughly $4 billion. In other words, MSTR has morphed into a Bitcoin proxy – which is not necessarily a bad thing. Despite Bitcoin being well off its all-time highs and the “crypto winter”, MSTR has outperformed the S&P 500 handsomely in the past five years.

Vertex Inc. (VERX - Free Report) provides tax technology solutions for corporations in retail, leasing, communication and manufacturing industries principally in the United States and internationally. This company has seen the Zacks Consensus Estimate for its current year earnings increasing 9.4% recently. Vertex could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. As such, the Zacks rating upgrade for Vertex is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. The upgrade of Vertex to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.


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