As the market continues to astound and press ever higher, stock picking is becoming ever more crucial. With the S&P 500 trading at multiples not seen since the late 1990s, investors need to carefully pick core holdings and new portfolio additions. A new research report from Piper Jaffray zeroes in on the firm’s top Focus Calls for investors to buy now.

The Piper Jaffray team has a very eclectic group of stocks in the Focus Call research, and their picks make good sense as they are growing revenues and, in one instance, dominates a specific sector. We highlight four from the list for investors to check out now.

Digital Globe

This company is a top small-cap stock for investors to consider. DigitalGlobe Inc. (NYSE: DGI) is a leading provider of commercial high-resolution earth observation and advanced geospatial solutions that help decision makers better understand the changing planet in order to save lives, resources and time. Sourced from the world’s leading constellation, its imagery solutions deliver unmatched coverage and capacity to meet the firm’s customers’ most demanding mission requirements. Each day customers in defense and intelligence, public safety, civil agencies, map making and analysis, environmental monitoring, oil and gas exploration, infrastructure management, navigation technology and providers of location-based services depend on DigitalGlobe data, information, technology and expertise to gain actionable insight.

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The Piper Jaffray team like the company’s positive and accelerating revenue growth, the potential for margin upside and the sharp increase in free cash flow. They think all three are possible second half 2015 events. The shares are down 2.5% this year versus the S&P 500 gain of more than 3%, and they trade at a 15% discount in industry peers. The bottom line is the risk/reward at these levels is compelling.

The Piper Jaffray price target for the stock is $46. The Thomson/First Call consensus target is $39.81. Shares closed Monday at $29.54.
Facebook

This incredible, fast-growing company remains the face of social media, and a challenger seems nowhere in sight. Facebook Inc. (NASDAQ: FB) has been grinding higher over the past year after a big run up in 2013 to early 2014 when the stock almost doubled, and the social media behemoth does not look to be slowing down. The revenue change over the past year was an astounding 54.69%, and the stock comes in as a top Internet pick at Cowen.

With Instagram, Premium video and Graph Search capabilities, some analysts feel that the company can drive revenue growth even without a huge increase in advertising placement. Many analysts agree that investor sentiment is very positive and that mobile advertising growth via different silos can be added this year, in 2016 and beyond. They also reported that Instagram is opening its platform for advertisers, particularly direct response advertisers via new direct response ad units like mobile app install ads. With a talented and experienced sales team, this should only continue to drive revenue higher.

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Kenshoo is a Facebook Marketing Partner that has somewhere between $5 billion and $6 billion in direct response advertising spend running through its platform. Wall Street reports suggest that social ad spending on the company’s platform was up a staggering 100% year over year. Furthermore, Facebook continues to capture a larger share of its clients’ digital advertising budgets, in part driven by Facebook video, which is the fastest growing segment, according to Kenshoo.

The Piper team sees the huge virtual reality potential in the company’s purchase of Oculus and sees a huge shift as humans interact to machines from smartphones and personal computers to wearables and integrated electronics that enable virtual reality and augmented reality. The also see Oculus as a good hedge on the overall relevance of the social media portfolio going forward and believe a higher multiple is warranted.

The Piper Jaffray price target is raised to a whopping $120 from $92. The consensus target is much lower at $96.41. The stock closed on Monday at $84.74.

Global Eagle Entertainment

This company is an interesting niche stock to buy now. Global Eagle Entertainment Inc. (NASDAQ: ENT) is a market-leading media and connectivity company to the travel industry. The company supports airlines and other travel industry sectors with a wide range of connectivity, content, digital media and operations data solutions. Global Eagles comprehensive portfolio of products and services includes Wi-Fi, movies, television, music as well as wireless entertainment and digital media solutions. Serving approximately 150 airlines worldwide and the maritime industry, the company delivers exceptional quality and value to its customers to help them achieve their passenger experience objectives.

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The Piper Jaffray team sees solid near-term catalysts with Air France and Air China, and the possibility for mergers and acquisition activity. Longer term they see margin expansion, increasing revenue per plane and next generation antenna possibilities.

The Piper Jaffray price target for the stock is $18, but the consensus is even higher at $19. The stock closed Monday at $14.03.

WABCO

This stock has been on a roll and the analyst sees a move higher in the cards. WABCO Holdings Inc. (NYSE: WBC) is a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough products and systems for braking, stability, suspension, transmission automation and aerodynamics. Today, all the world’s leading truck, bus and trailer manufacturers have WABCO technologies on board. In addition, the company also provides the industry with advanced fleet management solutions and aftermarket services. WABCO reported sales of $2.9 billion in 2014.

Despite the strong move in the stock since last fall, the Piper Jaffray analysts think the company has a very impressive ability to grow revenue-per-vehicle in all regions even without the benefit of a truck replacement and purchase cycle. Plus, with the cycle in Europe (which is 60% of sales) set to accelerate, they see that justifying the stocks higher multiple.

The Piper Jaffray price target is $137, about the same as the $137.18 consensus target. The shares closed Monday at $126.87.

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The focus stacks at Piper Jaffray make sense for aggressive growth investors, and they are decidedly away from the momentum arena. That is something that makes good sense with a very rich market.

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