The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.79% in Friday’s pre-market trading. Investors are closely watching developments in the Middle East, hoping for a deal between the U.S. and Iran. Meanwhile, investors reacted positively to April’s jobs report. Nonfarm payrolls rose by a seasonally adjusted 115,000 in April, down from the 185,000 seen in March but way higher than the consensus estimate of 55,000.
Claim 55% Off TipRanks
New trading tool for QQQ bullsOn Thursday, QQQ fell 0.12% amid persistent geopolitical risks.
Overall, the QQQ ETF has gained 5.74% in the past five trading sessions and about 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 $768.47 for the QQQ ETF implies an upside potential of about 10.6%.
Currently, QQQ’s five holdings with the highest upside potential are:
Currently, QQQ’s top holdings with the highest downside potential are:
Revealingly, the QQQ ETF’s Smart Score is eight, implying that this ETF has the ability to outperform the broader market over the long term.