5 Best Socially Responsible Stocks to Buy According to Analysts

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In this article, we will take a look at the 5 best socially responsible stocks to buy according to analysts. To see more such companies, go directly to 10 Best Socially Responsible Stocks to Buy According to Analysts.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 106

Analyst Price Target: $355

NVIDIA Corporation (NASDAQ:NVDA) has pledged to use advanced technologies to fight the climate change problem. NVIDIA Corporation (NASDAQ:NVDA) has also cut its emissions by 15% per employee. Nvidia plans to source 65% of its global electricity from renewable sources by 2025. It is a key part of the Vanguard FTSE Social Index Fund.

According to CNN Business, NVIDIA Corporation (NASDAQ:NVDA)’s median price target set by analysts is $355, which presents a strong upside to its current stock price of $277. Hedge fund sentiment for NVIDIA Corporation (NASDAQ:NVDA) saw a huge jump in the fourth quarter, with 106 funds tracked by Insider Monkey reporting stakes in the company at the end of the period, up from 89 funds in the previous quarter.

Aristotle Atlantic Focus Growth Strategy made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) contributed to outperformance, as the company announced better-than-expected fourth quarter earnings driven by a strong rebound in Gaming and an improving outlook for the Datacenter business due to the acceleration of Graphics Processing Unit (GPU) driven Artifical Intelligence (AI) deployment. The company also hosted its Global Technology Conference (GTC) in March where it further highlighted its leading technology being used to develop AI Large Language Models (LLM). The company announced new partnerships with hyperscalers for its AI cloud-based service while also releasing new software and hardware offerings that will support GPU-driven AI growth. Nvidia continues to see a growing addressable market for its products and services as AI uses become more prevalent.”

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