5 Best Get Rich Quick Stocks To Buy

In this article, we will take a look at the 5 best get rich quick stocks to buy. If you want to see more stocks in this selection, go to the 12 Best Get Rich Quick Stocks To Buy.

5. Etsy, Inc. (NASDAQ:ETSY)

Number of Hedge Fund Holders: 45

Etsy, Inc. (NASDAQ:ETSY) is a New York-based e-commerce platform that is known for selling craft supplies and handmade vintage items.

Etsy, Inc. (NASDAQ:ETSY) is on a rising trend as it has experienced a surge of over 37% in the last month, as opposed to the S&P 500 Index’s rise of only 4.5% during the same period. The stock is a contrarian pick on our list, given the high level of uncertainty expected to impact the discretionary spending of the customers. However, there is a widespread belief that the company has been able to stabilize its active customers and trends related to gross merchandise sales (GMS) despite the tough economic challenges. Furthermore, experts believe that Etsy, Inc. (NASDAQ:ETSY) is set up for favorable Q4 2022 results with further opportunities to experience an expansion of multiples. In a research note issued on December 1, Marvin Fong at BTIG increased the price target on Etsy, Inc. (NASDAQ:ETSY) from $119 to $137 and reiterated a Buy rating based on these developments.

Here’s what ClearBridge Investments said about Etsy, Inc. (NASDAQ:ETSY) in its Q3 2022 investor letter:

“Stock selection in the consumer discretionary sector proved a tailwind to performance. Etsy (NASDAQ:ETSY), which operates a number of online marketplaces for craft and artisan goods, delivered second quarter results that demonstrated the company’s pricing power, cash flow generation, and margin upside remain intact. While Etsy is experiencing declines in gross merchandise sales, it is seeing better than expected take rates and improved margins. We believe the company is well-positioned to grow advertising spending on its marketplace, bring in new buyers and strengthen its e-commerce advantages.”