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15 Best NASDAQ Stocks To Buy Today

In this piece, we will take a look at 15 best NASDAQ stocks to buy today. If you want to skip our analysis of the stock market, market indexes, and recent developments, head on over to 5 Best NASDAQ Stocks To Buy Today.

The U.S. economy finally appears to be stabilizing. Throughout 2023, worries of a recession have plagued investor minds as many worried that the Federal Reserve had gone too far in its interest rate hikes. However, June dealt markets a nice surprise as the Commerce Department upgraded its estimates for the first quarter of 2023’s GDP growth. This third revision showed that the economy had posted an annual growth rate of 2% in Q1 2023, up by 70 basis points (0.7%) from the previous estimates.

This data came as two and a half days of trading were left before the 4th of July holiday, and after opening at 13,592 on the day of the release, the NASDAQ Composite index closed at 13,816 the day before the holiday to pocket a modest 1.6% growth. The effect of this release was also reflected in the currency markets, with the U.S. dollar tumbling against major currencies as investors readjusted their sentiments of potential interest rate hikes from the Federal Reserve.

Crucially though, 2023’s first half has proven to be remarkable for the stock market. The NASDAQ Composite and NASDAQ 100 are up by 33% and 40% this year (its best first half performance in history) – quite different from what many investors were expecting heading into this year riding on the back of high interest rates and high inflation. The two NASDAQs are also among the best performing indexes this year, as the S&P500 and the Dow Jones Industrial Average have gained 16.51% and 3.87%, respectively.

The NASDAQ also ranks second on the list of the world’s biggest stock exchanges. As of January 2023, the total market capitalization of all firms listed on it stood at $18 trillion – surpassed only by the New York Stock Exchange (NYSE) which had a market capitalization of $22 trillion. This value is greater than the world’s third and fourth biggest stock exchanges, namely the Euronext N.V. exchanges and the Japan Exchange Group Exchanges.

Yet, even as the stock market appears to be robust, the debate has already started about a bigger market – the bond market. The apparent simmering upshoots of negativity in the bond market came to the forefront on the same day that Commerce upgraded its GDP estimates. In an opinion piece, former New York Federal Reserve president Bill Dudley claimed that the yields on 10 year U.S. bonds will shoot up to 4.5% – up from the roughly 3.75% right now. He explained that due to the tight labor market, persistent inflation, and robust economy, the Fed might be forced to maintain high interest rates for longer. He also added that the Fed is also forced to ensure that inflation remains around 2% since if it falls too much then its utility to stimulate economic growth also falls. Finally, he factored in the reduced demand for U.S. government treasuries to indicate that the risk premium investors demand for these bonds will go up. Putting all these together, he arrived at a 4.5% yield estimate – and one that has generated quite a bit of controversy.

Leading the charge against the former Fed official with years of experience in investment banking, are analysts from Morgan Stanley (NYSE:MS). They believe that instead of the yields shooting up to 4.5% (which indicates a sharp decrease in the bond price and creates an incentive for existing bondholders to sell their instruments), the yields will actually drop to 2% and 3% from the current 3.85%. They also countered the components of Mr. Dudley’s 4.5% estimate, namely the one involving 1% short term interest rates. The Morgan Stanley analysts believe that short term rates can increase to a maximum 0.5%, with average inflation expected to sit at 2% instead of 2.5% over the long term as assumed by Dudley.

But what if both stocks and bonds were headed for a downturn this year? Well, that’s what’s on the mind of the world’s largest hedge fund Bridgewater Associate’s co-chief investment officer Mr. Greg Jensen, who outlined in a recent podcast:

My view is you end up with growth disappointing a bit and inflation disappointing on the high side a bit, ending up probably bad for bonds and probably a little bit bad for equities and generally weak growth. And if that weak growth starts to translate into a rising savings rate, you could easily end up in a recession and one that’s going to be difficult to deal with. I’ve tamed and we’ve tamed at Bridgewater, to some degree, our view on growth. While still negative, [IT’S] not as extreme as it appeared and it’s a more gradual process that’s unfolding.

With these details in mind, let’s take a look at some top NASDAQ stocks that might be interesting to look at. Out of these, the notable picks are DexCom, Inc. (NASDAQ:DXCM), Alphabet Inc. (NASDAQ:GOOG), and WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC).

Our Methodology

To compile our list of the best NASDAQ stocks, we first started by compiling a list of the biggest companies on the exchange in terms of market capitalization. However, this naturally biases the list in favor of mega cap stocks, leaving little utility to our list of top NASDAQ stocks. So, we filtered the list by including only those firms that were rated Hold or better. While choosing stocks rated Hold sounds counterintuitive, it provides a better contrast between analyst sentiment and hedge fund sentiment since some Hold stocks might have more investors than Buy stocks. The list was narrowed down to stocks with a market capitalization greater than $2 billion. These were ranked by analyst sentiment. Out of the top forty stocks in the list, the ones with the highest number of hedge fund investors in Q1 2023 were chosen for our list of the best NASDAQ stocks to buy.

15 Best NASDAQ Stocks To Buy Today

15. Tripadvisor, Inc. (NASDAQ:TRIP)

Number of Hedge Fund Investors In Q1 2023: 25

Tripadvisor, Inc. (NASDAQ:TRIP) is a travel services company that enables customers to plan their trips and decide on destinations. It scored a win in June 2023, when B. Riley set a Buy rating for the shares and outlined that the firm will see significant cash flows.

As of Q1 2023, 25 out of the 943 hedge funds part of Insider Monkey’s database had bought a stake in Tripadvisor, Inc. (NASDAQ:TRIP). Out of these, the firm’s largest investor is Robert Joseph Caruso’s Select Equity Group with a $155 million stake.

Along with Alphabet Inc. (NASDAQ:GOOG), DexCom, Inc. (NASDAQ:DXCM), and WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC), Tripadvisor, Inc. (NASDAQ:TRIP) is a top NASDAQ stock that’s seeing hedge fund attention.

14. Principal Financial Group, Inc. (NASDAQ:PFG)

Number of Hedge Fund Investors In Q1 2023: 25

Principal Financial Group, Inc. (NASDAQ:PFG) is a financial services firm that offers different investment services, trusts, and other products. Jefferies upgraded the shares to Hold in June 2023 as well as increased the share price target to $65 to $60 due to the strength of the firm’s real estate portfolio.

After sifting through 943 hedge funds for their March quarter of 2023 investments, Insider Monkey discovered that 25 had bought and owned the firm’s shares. Dmitry Balyasny’s Balyasny Asset Management is Principal Financial Group, Inc. (NASDAQ:PFG)’s largest shareholder since it owns a stake worth $46 million.

13. Robinhood Markets, Inc. (NASDAQ:HOOD)

Number of Hedge Fund Investors In Q1 2023: 27

Robinhood Markets, Inc. (NASDAQ:HOOD) is a software trading platform geared towards retail users. The firm’s shares have been on a tear this year, having returned nearly 32%.

Insider Monkey surveyed 943 hedge funds to look at their Q1 2023 portfolios and found out that 27 had held Robinhood Markets, Inc. (NASDAQ:HOOD)’s shares. Robinhood Markets, Inc. (NASDAQ:HOOD)’s largest hedge fund investor in our database is Catherine D. Wood’s ARK Investment Management with a $308 million stake.

12. Brighthouse Financial, Inc. (NASDAQ:BHF)

Number of Hedge Fund Investors In Q1 2023: 27

Brighthouse Financial, Inc. (NASDAQ:BHF) is one of the oldest firms on our list. It provides insurance and annuity products and was set up in 1863. The firm’s shares are rated Hold on average but have an average price target of $48.56 – higher than the market price.

27 of the 943 hedge funds profiled by Insider Monkey for their first quarter of 2023 shareholdings had invested in Brighthouse Financial, Inc. (NASDAQ:BHF). Out of these, the biggest shareholder is David Einhorn’s Greenlight Capital with a $137 million investment.

11. Sanmina Corporation (NASDAQ:SANM)

Number of Hedge Fund Investors In Q1 2023: 28

Sanmina Corporation (NASDAQ:SANM) is an engineering and product design firm. It has an average share price target of $77, quite high than the current price of $60.

Insider Monkey’s March quarter of 2023 survey covering 943 hedge funds revealed that 28 had bought Sanmina Corporation (NASDAQ:SANM)’s shares. Israel Englander’s Millennium Management is the biggest investor through a $45 million stake.

10. Reata Pharmaceuticals, Inc. (NASDAQ:RETA)

Number of Hedge Fund Investors In Q1 2023: 31

Reata Pharmaceuticals, Inc. (NASDAQ:RETA) is a biotechnology firm headquartered in Plano, Texas. The firm’s shares have been on an upward trend in June 2023 after positive news from the FDA.

Out of the 943 hedge funds part of Insider Monkey’s database, 31 had bought Reata Pharmaceuticals, Inc. (NASDAQ:RETA)’s shares during Q1 2023. The firm’s largest shareholder is Joseph Edelman’s Perceptive Advisors since it owns $197 million worth of shares.

Joining WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC), DexCom, Inc. (NASDAQ:DXCM), and Alphabet Inc. (NASDAQ:GOOG) is Reata Pharmaceuticals, Inc. (NASDAQ:RETA) as a hot NASDAQ stock.

9. H World Group Limited (NASDAQ:HTHT)

Number of Hedge Fund Investors In Q1 2023: 33

H World Group Limited (NASDAQ:HTHT) is a Chinese hotel company operating out of Shanghai, China. Out of the 12 analysts covering its shares, ten have rated it Buy or better.

Insider Monkey dug through 943 hedge funds for their first quarter of 2023 investments and found out that 33 had held and invested in H World Group Limited (NASDAQ:HTHT)’s shares.

8. Golar LNG Limited (NASDAQ:GLNG)

Number of Hedge Fund Investors In Q1 2023: 33

Golar LNG Limited (NASDAQ:GLNG) is a liquefied natural gas (LNG) infrastructure company that operates vessels, storage, and other facilities. Eight of the 14 analysts covering the stock have rated it a Strong Buy, despite the recent downward share price movement.

As of March 2023, 33 of the 943 hedge funds profiled by Insider Monkey had invested in the company. Golar LNG Limited (NASDAQ:GLNG)’s largest hedge fund investor in our database is William B. Gray’s Orbis Investment Management with a $205 million investment.

7. Masimo Corporation (NASDAQ:MASI)

Number of Hedge Fund Investors In Q1 2023: 35

Masimo Corporation (NASDAQ:MASI) is a medical company that makes and sells devices to monitor the human body. The firm is currently being targeted by an activist investment firm that has successfully elected representatives to the board.

Insider Monkey took a look at 943 hedge fund portfolios for this year’s first quarter to discover that 35 had bought the firm’s shares. Out of these, Quentin Koffey’s Politan Capital is the largest investor, owning a stake worth $874 million.

6. Option Care Health, Inc. (NASDAQ:OPCH)

Number of Hedge Fund Investors In Q1 2023: 36

Option Care Health, Inc. (NASDAQ:OPCH) is a therapy company that provides nutrition and other services for patients suffering from cancer and other diseases. Its shares have jumped from $27 in May to $32 by July start.

According to Insider Monkey’s 943 hedge fund database for their March quarter of 2023 portfolios, 36 have invested in Option Care Health, Inc. (NASDAQ:OPCH). Out of these, the firm’s largest investor is Ken Griffin’s Citadel Investment Group with a $160 million stake.

DexCom, Inc. (NASDAQ:DXCM), Option Care Health, Inc. (NASDAQ:OPCH), Alphabet Inc. (NASDAQ:GOOG), and WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) are some top NASDAQ stocks bought by hedge funds.

Click to continue reading and see 5 Best NASDAQ Stocks To Buy Today.

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Disclosure: None. 15 Best NASDAQ Stocks To Buy Today is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
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The Hedge Fund Secret That’s Starting to Leak Out

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…