Buy/Sell: Wall Street’s top 10 stock calls this week

What has Wall Street been buzzing about this week? Here are the top 5 Buy calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of May 18-22.

Find all top-rated stocks by the best-rated analysts on TipRanks.

Top 5 Buy Calls:

1. Arm initiated with an Outperform at Bernstein

Bernstein initiated coverage of Arm (ARM) with an Outperform rating and $300 price target. The firm says Arm is the “structural beneficiary of the renaissance” of CPUs for agentic AI. The ratio of GPU:CPU is shifting from the current 8:1 to 2:1 or 1:1, with server the CPU addressable market quadrupling to $137B by 2030, the analyst tells investors in a research note. Bernstein believes Arm “stands out in server CPUs given its unparalleled power efficiency.”

2. Etsy upgraded to Buy at Argus amid improving metrics

Argus upgraded Etsy (ETSY) to Buy from Hold with a $67 price target. The company’s metrics, such as active buyers and growth in gross merchandise sales per active buyer, appear to be improving as Etsy benefits from personalization and machine learning initiatives, driving the stock’s outperformance over the past quarter, the analyst tells investors in a research note. Argus adds it is encouraged by Etsy’s opportunities around the implementation of AI.

Etsy upgraded to Buy at Arete

Arete upgraded Etsy to Buy from Neutral with a $76 price target. The company’s gross merchandise sales growth rates are “finally” showing signs of improvement, the firm tells investors in a research note. Arete says Etsy’s buyer metrics either stabilized or improved in Q1, suggesting its efforts to improve retention and frequency are beginning to work. The firm argues the company is “turning a corner.”

3. Zscaler upgraded to Buy at B. Riley

B. Riley upgraded Zscaler (ZS) to Buy from Neutral with a price target of $225, down from $275. The firm believes demand for secure network access is “healthy.” It cites Zscaler’s expanding product line and AI tailwinds for the upgrade. The reduced price target reflects a reduction in software multiples in recent months, the analyst tells investors in a research note.

4. ServiceNow reinstated with a Buy at BofA on agentic AI opportunity

BofA reinstated coverage of ServiceNow (NOW) with a Buy rating and $130 price target. While AI is disrupting the software landscape, the firm thinks ServiceNow stands to benefit from, rather than be replaced by, new AI solutions, the firm tells investors. BofA believes ServiceNow’s depth and breadth of workflow entrenchment “uniquely position it to benefit” from any deployment of autonomous agents across IT, employee, and customer workflows, the firm added.

5. Guggenheim upgrades StubHub with growth picking up in Q2

Guggenheim upgraded StubHub (STUB) to Buy from Neutral with a price target of $12.50, up from $8.50, which offers 30% potential upside. The company reset Street expectations for this year and next, and the bar is now “extremely low” on direct issuance and advertising, the analyst tells investors in a research note. The firm believes any progress shown by StubHub “would represent upside optionality.” In addition, several items should accelerate the company’s growth starting in Q2, including the World Cup, lapping all-in pricing, and easy Q4 compares, says Guggenheim. The firm also sees StubHub’s core secondary business continuing to take share both in North America and globally.

Top 5 Sell Calls:

1. Salesforce reinstated with an Underperform at BofA amid structural reset

BofA reinstated coverage of Salesforce (CRM) with an Underperform rating and $160 price target. Salesforce remains “a deeply entrenched platform,” but the firm expects a structural reset driven by AI transition. This raises three core concerns, namely muted net new customer additions, limited upsell potential, and an “underwhelming” AI monetization pathway, the analyst added.

2. BofA reinstates ZoomInfo with an Underperform on structural risk

BofA reinstated coverage of ZoomInfo (GTM) with an Underperform rating and $4 price target. While the company generates substantial free cash flows, the 2026 revenue growth outlook “remains challenged” as end-market demand has softened and the company makes major changes to revamp its strategy, the analyst tells investors. Looking past this year’s challenges, the firm thinks the company could face a worsening environment from rapidly intensifying competitive pressures due to the rise of large language models and AI agents.

3. Mobileye initiated with an Underperform at Jefferies

Jefferies initiated coverage of Mobileye (MBLY) with an Underperform rating and $8 price target. While the company offers “interesting exposure” to robotaxis and humanoids, the stock’s near-term upside looks limited, the analyst tells investors in a research note. The firm believes Mobileye’s growth from the shift to higher-autonomy systems is already reflected in consensus estimates. The company’s medium- to long-term outlook is “dependent on a few highly uncertain outcomes,” contends Jefferies.

4. Inspire Medical downgraded to Underperform at BofA on coding overhang

BofA downgraded Inspire Medical (INSP) to Underperform from Neutral with a price target of $39, down from $53. The firm sees higher risk to estimates without a smooth and consistent coding pathway for centers and does not see the stock working until there’s more clarity on coding. Inspire’s guidance assumes things are improving now and 2027 revenues will grow, but “it is tough for us to call a sustainable improvement” until there’s an official code for Inspire V, which is “at best Jan 1, 2028, but increasingly looks like it could take even longer,” BofA added.

5. Newell Brands downgraded to Underweight at Morgan Stanley

Morgan Stanley downgraded Newell Brands (NWL) to Underweight from Equal Weight with a price target of $3.50, down from $4. The firm is above consensus in Q2, but expects downside to consensus in the back half of 2026 and FY27 given cost pressure potentially above management guidance as well as greater risk from demand pressure with weaker consumer sentiment post the Iran conflict.