5 Most Promising QQQ Stocks According to Hedge Funds

In this article, we will take a look at the 5 most promising QQQ stocks according to hedge funds. To read our analysis of the recent trends, and market activity, you can go to the 16 Most Promising QQQ Stocks According to Hedge Funds.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 180

NVIDIA Corporation (NASDAQ:NVDA) is a leading technology company focused on the design and manufacturing of accelerated computing hardware and software products. Its core businesses comprise of Gaming, Data Center, Professional Visualization, and Automotive, with Gaming and Data Center making up for more than 80% of its revenues.

Several analysts raised their firm’s respective price targets for NVIDIA Corp (NASDAQ:NVDA) shares following another strong quarterly performance with revenue surpassing consensus estimates by $2.0 billion (11%) in Q3 2023. Among the prominent firms covering the stock, Wells Fargo analyst Aaron Rakers holds the highest price target for the chipmaker at $675 with an ‘Overweight’ rating. The target price represents a potential upside of 37.40% based on the share price on December 18.

Hedge funds are bullish about NVIDIA Corporation (NASDAQ:NVDA) shares as the number of hedge funds that own its shares has increased from 106 in Q1 to 180 in Q3 2023. These hedge funds together held shares worth $29.6 billion according to Insider Monkey data.