5 Best Stocks To Buy For Grandchildren

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 242

Meta Platforms, Inc. (NASDAQ:META) is a California-based company that provides products and services for social networking, business insight solutions, and more.

On January 25, BofA raised the price target on Meta Platforms, Inc. (NASDAQ:META)’s stock to $425 from $405 and maintained a Buy rating. The analyst stated that the reasons behind the firm being constructive on the stock include reels contributing positively, growing revenue because of messaging, and more.

On January 25, Meta Platforms, Inc. (NASDAQ:META) reported that it will build an $800 million data center campus in Indiana and expects to start operations in 2026. The data center will be the 18th one in the company’s network of data centers in the US and is expected to connect its clients to the firm’s technologies.

Moon Capital Management commented on Meta Platforms, Inc. (NASDAQ:META) in its fourth-quarter 2023 investor letter. Here is what it said:

“Meta Platforms, Inc. (NASDAQ:META), holding company for Facebook, Instagram and other addictive social media properties) was another security that many deemed unownable in early 2023. Facebook earns massive amounts of advertising revenue, too much of which we believed the company was wasting on very expensive, non-core projects. Apparently, someone at Meta HQ finally agreed, as the company began exhibiting serious expense discipline, resulting in improved earnings – as well as a 194% return on the stock for the year.”