2 undervalued stocks to check out in the stock market today

Undervalued stocks are a great way to make money on the stock market. But what exactly is an undervalued stock? Undervalued stocks are simply stocks that are trading below their intrinsic value. In other words, they are worth more than the current market price. Many factors can contribute to a stock being undervalued, such as recent poor performance, negative analyst reviews, or simply being out of favor with investors.

However, savvy investors know that undervalued stocks can be a great opportunity to buy low and sell high. With a little research, it is possible to find hidden gems in the stock market that are ripe for a rebound. So don’t be afraid of undervalued stocks; they just might be the key to making big profits in the stock market today. If you want to find undervalued stocks in the market right now, here are two to check out.

Undervalued stocks to watch now

Adobe (ADBE Stock)

First, Adobe Inc. (ADBE) is an American multinational computer software company headquartered in San Jose, California. Adobe has historically focused on building media and creativity software products, with a more recent foray into digital marketing software. Just this week, Adobe announced that it will release its Q3 fiscal 2022 results after market close on Thursday, September 15, 2022.

In the meantime, let’s take a look at the company’s latest quarterly financial results. In detail, Adobe announced earnings per share of $3.36 in the second quarter of 2022, with revenue of $4.4 billion. This is compared to consensus estimates for the quarter which were earnings of $3.31 per share and revenue of $4.3 billion. Additionally, revenue grew 14.4% over the same period in 2021.

Apart from that, Adobe provided outlook for its third quarter results. Specifically, the company announced its estimated third-quarter non-GAAP earnings of $3.33 per share, with revenue of nearly $4.43 billion. Despite these results, ADBE shares are down more than 32% so far in 2022. ADBE shares closed Thursday’s trading session at $383.63 per share. Until we see Q3 results, do you think ADBE is a good undervalued stock to invest in for 2022?

Next, Amazon.com Inc. (AMZN) is an American multinational technology company based in Seattle, Washington. In short, Amazon is focused on e-commerce, cloud computing, digital streaming, and artificial intelligence. For context, Amazon is one of the big four tech companies, with Google (NASDAQ:GOOGL), Apple (NASDAQ: AAPL), and Metaplatforms (NASDAQ: META).

In July, Amazon released its second-quarter 2022 financial results. Plunging straight in, the company reported earnings of $0.10 per share, with revenue of $121.1 billion. This compares with consensus analyst estimates for the second quarter of earnings per share of $0.15 and revenue of $119.5 billion. In addition, Amazon also announced an upbeat outlook for Q3 2022. In the shareholder letter, the company announced that it estimates Q3 revenue between $125.0 billion and $130.0 billion.

Regardless, in August Amazon announced the acquisition of iRobot. Details of the deal include that Amazon will buy iRobot for $61 per share in an all-cash transaction valued at approximately $1.7 billion. In 2022 so far, AMZN stock is still down over 23%. This could present an opportunity for investors to buy AMZN shares at a discount. With that in mind, will you be adding AMZN stocks to your watchlist now?

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