These 3 stocks are predicted to have high growth potential by top Wall Street analysts.

The impact of macro challenges on companies is being closely examined by analysts during earnings season.

While Wall Street is monitoring short-term stock fluctuations driven by quarterly outcomes, the leading analysts are focusing on companies' long-term outlooks.

According to TipRanks, which ranks analysts based on their past performance, the Street's top pros favor these three stocks.

Netflix

NFLX is this week's first pick. Despite reporting better-than-expected results for the first quarter of 2024, investors were disappointed with the company's decision to stop reporting quarterly subscriber numbers. The company said that it is more focused on the revenue and operation margin metrics.

BMO Capital analyst Brian Pitz maintained a buy rating on NFLX stock with a price target of $713 after the first-quarter print. The analyst noted that the company's addition of 9.3 million subscribers surpassed BMO's estimate of 6.2 million and the Street's expectation of 4.8 million.

Netflix has reported 2.5 million net additions in the U.S. and Canada in the first quarter, proving its ability to grow in the region. Pitz anticipates continued growth in membership due to the ongoing paid sharing efforts and content innovation.

Netflix will experience ongoing wallet share gains due to its $17 billion content investments, as linear TV viewership declines, according to Pitz's bullish thesis.

Although Netflix has invested in growth, the analyst predicts an increase in operating margin this year and in the future. Additionally, the analyst anticipates that the company will benefit from its advertising efforts, as $20 billion of linear TV ad dollars are expected to shift to CTV/online globally over the next three years, including $8 billion in the U.S.

Pitz is ranked No. 155 among over 8,700 analysts on TipRanks, with a profitable track record of 75% and an average return of 18.4% per rating. (See Netflix Ownership Structure on TipRanks)

General Motors

The automaker, GM, reported impressive first-quarter results and increased its full-year guidance due to strong performance in North America.

Goldman Sachs analyst Mark Delaney maintained a buy rating on the stock and boosted the price target from $50 to $52, while also raising his EPS estimates for 2024, 2025, and 2026 based on improved margin expectations.

Delaney stated that margins can remain stable due to cost savings and efficient execution of the $2 billion net cost reduction program, as well as relatively stable pricing.

The analyst views General Motors' advancements in electric vehicle profitability as promising. Notably, GM anticipates its EV business' variable profit to be positive in the second half of this year and achieve a mid-single-digit earnings before interest and taxes margin in 2025.

Delaney stated that GM's optimism is due to its projections for EV demand and production growth, as well as the anticipated benefits from the battery production tax credit and cost savings.

The analyst predicts that GM's capital allocation will remain a positive factor, as the company plans to increase its shareholder returns beyond 2024 through an aggressive buyback program aimed at reducing its outstanding share count to below 1 billion.

Delaney ranks 256th among more than 8,700 analysts on TipRanks, with a successful rating rate of 61% and an average return of 17.5% for each rating. (See General Motors Stock Buybacks on TipRanks)

Wingstop

The restaurant chain WING has over 2,200 locations worldwide and has the potential for growth in the domestic market, according to Baird analyst David Tarantino.

While WING aims to expand its global presence to over 7,000 locations, including 4,000 restaurants in the U.S., Tarantino believes that Baird's analysis suggests that the company's domestic target has significant growth potential, with the possibility of at least 5,000 U.S. locations.

BMO's analysis suggests that the estimated TAM may increase in the future due to the company's recent growth in its most profitable markets.

According to Tarantino, a significant domestic runway and a relatively open-ended opportunity in international markets (only 288 locations after 2023) are likely to support double-digit unit growth for many years to come. He reiterated his buy rating on WING stock with a price target of $390.

The analyst predicts that Wingstop's U.S. franchised locations have unit-level cash-on-cash returns of approximately 70%, and are expected to increase even more this year due to higher average unit sales volumes.

WING's solid near-term operating momentum and attractive long-term growth profile warrant a significant valuation premium, according to Tarantino. The analyst anticipates that the company will maintain annual revenue growth in the mid-teens, while also maintaining a very capital-efficient growth model in the future.

Among more than 8,700 analysts tracked by TipRanks, Tarantino ranks No. 264. His ratings have been successful 65% of the time, with each delivering an average return of 11.5%. (See Wingstop Stock Charts on TipRanks)