5 Best Young Stocks To Buy Now

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In this article, we discuss the 5 young stocks to buy now. If you want to read our detailed analysis of the young stocks and recent IPOs, go directly to see the 10 Best Young Stocks To Buy Now.

5. DoorDash, Inc. (NYSE:DASH)

Number of Hedge Fund Holders: 45

IPO Date: December 9, 2020

DoorDash, Inc. (NYSE:DASH), one of the best young stocks to buy, went public in December 2020, raising $3.37 billion in its IPO. On its first trading day, the stock reached $189.51 per share from $182 per share. This gain in the share price of DoorDash, Inc. (NYSE:DASH) was because of the increased demand for online delivery services during the pandemic.

Recently, BofA lifted its price target on DoorDash, Inc. (NYSE:DASH) to $255, with a Buy rating on the shares. The firm’s analyst Michael McGovern sees growth in the company’s advertising revenue, which could reach $2 billion by 2026. In Q2 2021, DoorDash, Inc. (NYSE:DASH) reported revenue of $1.24 billion, up 83.7% from the prior-year quarter. The stock gained 54.5% in 2021.

Tiger Global Management LLC is the leading shareholder of DoorDash, Inc. (NYSE:DASH) in Q2, with shares worth $1.9 billion. Overall, 45 hedge funds tracked by Insider Monkey reported having stakes in the company in Q2, up from 38 in the previous quarter. The total value of these stakes is $9 billion.

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