5 Best Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 184

Meta Platforms, Inc. (NASDAQ:META) stock is cheap at 13x the 2023 EPS target, with several catalysts that will result in EPS growth and elevate the valuation multiple. Meta Platforms, Inc. (NASDAQ:META) remains one of the best stocks to invest in right now according to hedge funds. According to the second quarter database of Insider Monkey, 184 hedge funds held stakes worth $18 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 200 funds the prior quarter worth $30 billion. 

Among the hedge funds tracked by Insider Monkey, Boykin Curry’s Eagle Capital Management is a notable stakeholder of Meta Platforms, Inc. (NASDAQ:META), with 7.3 million shares worth $1.18 billion. 

Here is what Saga Partners has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q2 2022 investor letter:

“Meta (formerly known as Facebook, when I discuss the social media apps specifically, I’ll still refer to Facebook). The Portfolio first bought Meta in Q4’18. It was a controversial investment then and has continued to be to this day. The core mission of the company has been to make the world more open and connected. To do that, it needs to connect everyone in the world, which it largely has done with its nearly 3 billion monthly active users across its family of apps (Facebook, Instagram, and WhatsApp). That type of scale is hard to grasp and is getting pretty close to essentially every smartphone user outside of China and Russia.

From an investing perspective, there are questions surrounding Apple’s iOS App Tracking Transparency (ATT) changes that limit sharing user data across apps, investments in virtual reality (VR) and augmented reality (AR) i.e. the metaverse, and competitive threats surrounding the rise of TikTok. It seems like only yesterday (or last year) that one of the major risks of Facebook was that the company was too powerful, had too much influence on public opinion, and faced antitrust and regulatory concerns…” (Click here to see the full text)