According to Wall Street, these 3 Popular Reddit Stocks Have More Than 55% Upside

A social-media-influenced trading frenzy took off earlier this year following the subreddit r/wallstreetbets triggered skyrocketing rally of heavily shorted stock GameStop Corporation (GME). However, retail-trader favorites have witnessed slowing demand and fading…

interest lately amid signs of individual investor fatigue. Shares of meme stock GME have dipped 8.3% in price over the past three months, while AMC Entertainment Holdings, Inc.’s (AMC) shares have dropped 11.9% over the past five days.

Despite the tempered interest in meme stocks, Wall Street analysts expect Reddit favorites TMC, the metals company Inc. (TMC – Get Rating), The Beachbody Company, Inc. (BODY – Get Rating), and AudioEye, Inc. (AEYE – Get Rating) to rally by more than 55% in price due to their sound fundamentals and solid growth prospects. These stocks were among the top 10 most mentioned U.S. stocks on the WallStreetBets forum on September 17.

TMC the metals company Inc. (TMC – Get Rating)

Headquartered in Vancouver, Canada, TMC explores for battery metals from seafloor polymetallic nodules and builds carefully managed metal commons that can be used, recovered, and reused. The company’s contract areas host polymetallic nodules containing nickel, copper, cobalt, and manganese in the Clarion Clipperton Zone of the Pacific Ocean.

The company went public on September 10 via a special purpose acquisition company (SPAC) merger with a blank-check company Sustainable Opportunities Acquisition.

TMC’s cash at the  period’s close stood at $293,323 for the six months ended June 30, 2021. The company’s net income came in at $14.69 million during this period. Also, its net gain on investment amounted to $4,560 for the three months ended June 30, 2021. Although the stock dipped approximately 17% in price after its market debut on September 10, it has gained 10.3% over the past five days, driven by the Reddit-fueled meme stock craze.

Closing yesterday’s trading session at $10.38, the average analyst price target of $20 represents a 92.7% potential gain.

The Beachbody Company, Inc. (BODY – Get Rating)

BODY is a health and wellness enterprise that operates  Beachbody; Openfit; and MyXfitness platforms. The company offers digital subscriptions and digital streaming platforms to its users. In addition, it provides nutritional products, such as Shakeology, Beachbody performance supplements, and BEACHBARs low sugar and protein bars supplements.

In July, BODY launched its new MYX II bike. It is a  highly personalized indoor cycling and studio-quality riding experience. The new bike will provide its users several features, such as a 360-degree swivel, a 21.5” touchscreen, and fully adjustable seat and handlebars.

For the second quarter, ended June 30, 2021, BODY’s total revenue increased 2.1% year-over-year to $223.11 million. The company’s revenue under its digital segment rose 20.4% from its  year-ago value to $94.33 million. BODY’s cash and cash equivalents grew 511% from $56.83 million as of December 31, 2020, to $347.23 million as of June 30, 2021. Also, the company’s other income increased 4,764.7% from the prior-year quarter to $1.65 million.

BODY’s revenue is expected to increase 20.7% year-over-year to $1.17 billion in its  fiscal year 2022. Its EPS is estimated to grow 34.1% next year.

The consensus price target of $12.13 represents a 72.8% potential gain from the last closing price of $7.02.

AudioEye, Inc. (AEYE – Get Rating)

Incorporated in 2005, AEYE provides software solutions with automation tests for over 400 accessibility issues. The Tucson, Ariz.-based company also provides…

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