The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.11% in Monday’s pre-market trading due to uncertainty over negotiations between the U.S. and Iran. Oil prices rose amid continued tensions in the Middle East.
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Forget margin or options. Here's how the pros trade QQQOn Friday, QQQ surged 2.34%, as investors cheered a strong jobs report. Notably, U.S. nonfarm payrolls rose by 115,000 in April, surpassing the consensus estimate of 55,000.
Overall, the QQQ ETF has gained 5.52% in the past five trading sessions and 40% year-to-date.
QQQ’s Key Holdings with Highest Upside/Downside Potential
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, QQQ is a Strong Buy. The Street’s average price target of $793.63 for the QQQ ETF implies an upside potential of about 11.6%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Insmed (INSM)
- Strategy (MSTR)
- Axon Enterprise (AXON)
- Charter Communications (CHTR)
- CoStar Group (CSGP)
Currently, QQQ’s top holdings with the highest downside potential are:
Revealingly, the QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.