5 Best Up and Coming Stocks To Invest In

4. Coinbase Global, Inc. (NASDAQ:COIN)

Number Of Hedge Fund Holders: 46

Coinbase Global, Inc. (NASDAQ:COIN), is a Delaware-based company that operates a cryptocurrency exchange platform. Providing financial infrastructure and technology for the global crypto market, Coinbase Global, Inc. (NASDAQ:COIN) ended 2021 with an average of 11.4 million monthly transacting users, more than 300% above 2020’s level.

Cowen analyst Stephen Glagola on May 26 initiated coverage of Coinbase Global, Inc. (NASDAQ:COIN) with an Outperform rating and an $85 price target. According to the analyst, Coinbase Global, Inc. (NASDAQ:COIN) has a dominant spot volume exchange position in the U.S. and he expects it to be primarily an exchange/retail brokerage-driven story over the next several years. Additionally, he believes that the company can grow at a double-digit percentage compound annual growth rate for “the foreseeable future” and argues that its security infrastructure and regulatory adherence are a structural advantage over global competitors.

Among the hedge funds tracked by Insider Monkey, 46 funds were bullish on Coinbase Global, Inc. (NASDAQ:COIN) at the end of Q1 2022, down from 57 funds in the prior quarter. Cathie Wood’s ARK Investment Management is the biggest shareholder of the company, with close to 7 million shares worth $1.3 billion.

Here is what Longleaf Partners Fund has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q4 2021 investor letter:

“We also have seen plenty of IPO/SPAC craziness showing both that private players need public markets more than they admit and that there is more volatility embedded in these newer companies than a private quarterly mark might admit. As for how efficient both the private and public markets are, we would encourage you to really delve into some of those multi-hundred-page S1s for many of the newest public companies to see the huge gap between the last valuation at which the company was funded and/or granted shares to its executives and the often much higher price at which the company went public – Coinbase is a prime example.”