5 Best Meme Stocks to Invest In

2. SoFi Technologies, Inc. (NASDAQ: SOFI)

Number of Hedge Fund Holders: 39

Percentage gain in the past month: 2%

SoFi Technologies, Inc. (NASDAQ: SOFI) is a San Francisco-based fintech company and it ranks 2nd on the list of 12 best meme stocks to invest in. SoFi Technologies, Inc. (NASDAQ: SOFI) manages an online finance platform. 

On September 9, Credit Suisse analyst Timothy Chiodo initiated coverage of SoFi Technologies, Inc. (NASDAQ: SOFI) with a Neutral rating and a $16.50 price target.

The company has a market cap of $12.12 billion. In the second quarter of 2021, SoFi Technologies, Inc. (NASDAQ: SOFI) reported an EPS of -$0.48, missing estimates by -$0.42. The company’s second-quarter revenue came in at $231.27 million and beat revenue estimates by $12.67 million. The stock has gained 23%, year to date.

At the end of the second quarter of 2021, 39 hedge funds in the database of Insider Monkey held stakes worth $1.78 billion in SoFi Technologies, Inc. (NASDAQ: SOFI), up from 0 in the previous quarter.

Out of the hedge funds being tracked by Insider Monkey, California-based hedge fund firm Silver Lake Partners is a leading shareholder in SoFi Technologies, Inc. (NASDAQ: SOFI) with 38,515,543 shares worth more than $738 million.