While the markets might look a bit wobbly as the shortened week kicks off, they have entered September on solid footing, with the S&P 500 up 10% year-to-date after a fourth consecutive monthly gain, holding just below record highs. The index’s strength has been underpinned by robust Q2 earnings, optimism for a Federal Reserve rate cut later this month, and momentum from ongoing AI-driven capital spending.
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The market strategist at JPMorgan Wealth Management have been watching the situation, and while they acknowledge that the ‘exuberance’ in the markets right now is unusual, they don’t see it as irrational.
“We think the S&P 500 can deliver high single-digit total returns over the next 12 months, even if tariffs stick at current rates… We believe financials, utilities and technology will continue to outperform driven by improving earnings expectations. We see further upside for the tech sector, buoyed by artificial intelligence (AI) investments, continued capital expenditures (capex) and the OBBBA,” the bank’s team notes.
Given that stance, the stock analysts at JPMorgan are looking for stocks to buy. They’ve highlighted two names they believe stand out right now, and we’ve turned to the TipRanks database to see how the broader Wall Street community views them. Let’s take a closer look.
SailPoint, Inc. (SAIL)
We’ll start in the tech sector, with a software company. SailPoint specializes in identity security, a vital niche within the larger cybersecurity universe. SailPoint’s focus starts with the discovery and securing of machine identities within a customer’s network, and goes on to include access and data security, as well as automation and delegation of manual tasks. The company offers a unified platform, Atlas, to manage identity security along with access security for critical applications and data. SailPoint boasts that its platform provides…
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