5 Best Blockchain Stocks To Buy Now

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 146

Mastercard Incorporated (NYSE:MA) is one of the leading companies in the blockchain industry. The company has been actively involved in the development of blockchain technology since October 2017, when it launched its native blockchain platform. The platform is a scalable, secure, and cost-efficient blockchain network that enables businesses to securely store and manage digital assets. On November 3, the company announced that it has added 7 blockchain startups to the Mastercard Start Path program, the company’s fintech accelerator program. Mastercard Incorporated (NYSE:MA) is actively exploring the potential of blockchain technology and is taking steps to ensure that it is well positioned to take advantage of this emerging technology. The stock ranks high among the best blockchain stocks to buy now.

On November 1, Mizuho analyst Dan Dolev updated his price target on Mastercard Incorporated (NYSE:MA) to $380 from $385 and maintained a Buy rating on the shares.

At the end of the third quarter of 2022, Mastercard Incorporated (NYSE:MA) was a part of 146 investors’ portfolios that held collective positions worth $13.88 billion in the company. Of those, Akre Capital Management is the top shareholder in the company and has stakes worth $1.67 billion.

Here is what Baron Funds had to say about Mastercard Incorporated (NYSE:MA) in its third-quarter 2022 investor letter:

“Shares of global payment network Mastercard Incorporated (NYSE:MA) fell despite reporting financial results that exceeded Street estimates. Revenue grew 21% and EPS grew 32% in the most recent reported quarter, and strong payment activity has persisted despite high inflation. Share price weakness represented a reversal of outperformance earlier this year and was likely driven by adverse foreign exchange movements and concerns about a potential weakening of consumer spending. We retain conviction due to Mastercard’s long runway for growth and significant competitive advantages.”