5 Most Undervalued Growth Stocks To Buy According To Hedge Funds

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

Number of Hedge Fund Holders: 242

Share Price Gains Year-t0-Date: 46.9%

Upside Potential: 4.1%

Meta Platforms, Inc. (NASDAQ:META) was seen in the portfolios of 242 hedge funds in the fourth quarter, with a total stake value of $44.2 billion.

Tigress Financial analysts hold a $575 price target and Strong Buy rating on Meta Platforms, Inc. (NASDAQ:META) as of February 9.

Meta Platforms, Inc. (NASDAQ:META) is an interactive media and services company. It manages several social media platforms such as Facebook, Instagram, and Threads.

Ruane, Cunniff & Goldfarb said the following about Meta Platforms, Inc. (NASDAQ:META) in its fourth-quarter 2023 investor letter:

“Two additional trims, in Meta Platforms, Inc. (NASDAQ:META) and Carmax, were more substantive in nature. When Meta’s stock declined in 2022, we judged it to be significantly mispriced and held our ground through the bottom. We trimmed the position serially last year as the stock soared because we were wary of holding a large position exposed to significant regulatory risks, particularly in Europe. We are comfortable owning Meta at today’s much-reduced weighting and current valuation. The smaller position size reflects our updated assessment of the balance of long-term risk versus reward.”