10 Stocks Reddit is Piling Into Before Earnings

Published August 4, 2021 at 3:28 pm EDT Updated August 19, 2026 at 5:13 am EDT

In this article, we discuss the 10 stocks Reddit is piling into before earnings.

The stock market is on track to register a strong earnings quarter as more firms release their second quarter results. Retail investors on internet platforms like Reddit have been piling into equities that are expected to smash market estimates on earnings per share and revenue in anticipation of gains in the share price over the next few days. On August 3, the S&P 500 Index, the benchmark for the industry, climbed 36 points, beating a record set late last month, and pushed year-to-date gains to almost 20% as businesses continued to report record earnings.

Other economic indicators were also positive, with the Dow Jones Industrial Average jumping to 35,117, registering a year-to-date gain of about 16%. The NASDAQ touched 14,761 points, up 0.6% to register a year-to-date gain of around 16% as well. Corporate earnings released in the past few days have helped overshadow market concerns around inflation and the spread of the Delta variant of the coronavirus. Data from research firm Refinitiv suggests that the market is set for the biggest quarterly earnings growth in more than a decade.

Retail investors, who are on track to pour more than $400 billion into equities this year, want to take advantage of this growth. Some of the stocks presently trending on Reddit, the social media platform of choice for retail investors, include Activision Blizzard, Inc. (NASDAQ: ATVI), Match Group, Inc. (NASDAQ: MTCH), Uber Technologies, Inc. (NYSE: UBER), ViacomCBS Inc. (NASDAQ: VIAC), Cloudflare, Inc. (NYSE: NET), and Penn National Gaming, Inc. (NASDAQ: PENN), among others discussed in detail below.

The influx of retail investors on the market in recent months has changed overall market dynamics. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

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With this context in mind, here is our list of the 10 stocks Reddit is piling into before earnings. These were ranked keeping in mind the number of mentions on Reddit, analyst ratings, business fundamentals, and hedge fund sentiment around each. The firms listed below are expected to unveil their earnings results for the second quarter on August 5 or August 6.

Stocks Reddit Is Piling Into Before Earnings

10. Himax Technologies, Inc. (NASDAQ: HIMX)

Number of Hedge Fund Holders: 18
Expected Earnings Date: August 5 (Before Market Open)

Himax Technologies, Inc. (NASDAQ: HIMX) is ranked tenth on our list of 10 stocks Reddit is piling into before earnings. The company operates from Taiwan and markets display image processing technologies. The firm will reveal earnings results for the second quarter before the opening of the market on August 5. In late May, the firm declared an annual dividend of $0.272 per share, an increase of 170% from the previous dividend of $0.10 per share. It has a market cap of over $2.4 billion.

In earnings results for the first quarter, posted on May 6, Himax Technologies, Inc. reported earnings per share of $0.38, in line with market estimates. The revenue over the period was $309 million, up 67% year-on-year.

Out of the hedge funds being tracked by Insider Monkey, California-based investment firm Yiheng Capital is a leading shareholder in Himax Technologies, Inc. with 8.1 million shares worth more than $111 million.

Just like Activision Blizzard, Inc., Match Group, Inc., Uber Technologies, Inc., ViacomCBS Inc., Cloudflare, Inc., and Penn National Gaming, Inc., Himax Technologies, Inc. is one of the stocks Reddit is piling into for earnings.

9. Fisker Inc. (NYSE: FSR)

Number of Hedge Fund Holders: 22
Expected Earnings Date: August 5 (After Market Close)

Fisker Inc. (NYSE: FSR) is placed ninth on our list of 10 stocks Reddit is piling into before earnings. The company develops and sells electric vehicles and is based in California. The firm is different from other EV manufacturers as it mostly uses third parties for the manufacturing. It will announce earnings results for the second quarter after the closing of the market on August 5. In the first quarter, the company missed market estimates on earnings per share. It has a market cap of over $4.7 billion.

On June 8, investment advisory RBC Capital initiated coverage of Fisker Inc. stock with an Outperform rating and a price target of $27, highlighting that the company was on a different path to other EV firms in the manufacturing process.

At the end of the first quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $337 million in Fisker Inc., up from 18 the preceding quarter worth $146 million.

In addition to Activision Blizzard, Inc., Match Group, Inc., Uber Technologies, Inc., ViacomCBS Inc., Cloudflare, Inc., and Penn National Gaming, Inc., Fisker Inc. is one of the stocks Reddit is piling into for earnings.

8. The Goodyear Tire & Rubber Company (NASDAQ: GT)

Number of Hedge Fund Holders: 23
Expected Earnings Date: August 6 (Before Market Open)

The Goodyear Tire & Rubber Company is a firm that makes and sells tires. It is headquartered in Ohio. It is ranked eighth on our list of 10 stocks Reddit is piling into before earnings. The firm is expected to unveil earnings for the second quarter before the opening of the market on August 6. In earnings results for the first quarter, posted on April 30, the firm reported earnings per share of $0.43, beating market estimates by $0.30. The revenue over the period was $3.5 billion, up 14% year-on-year.

On May 4, investment advisory Deutsche Bank maintained a Hold rating on The Goodyear Tire & Rubber Company stock but raised the price target to $21 from $19, noting that the firm was in the early stages of a large earnings recovery.

At the end of the first quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth $429 million in The Goodyear Tire & Rubber Company, down from 27 the preceding quarter worth $216 million.

Alongside Activision Blizzard, Inc., Match Group, Inc., Uber Technologies, Inc., ViacomCBS Inc., Cloudflare, Inc., and Penn National Gaming, Inc., The Goodyear Tire & Rubber Company is one of the stocks Reddit is piling into for earnings.

7. Beyond Meat, Inc. (NASDAQ: BYND)

Number of Hedge Fund Holders: 26
Expected Earnings Date: August 5 (After Market Close)

Beyond Meat, Inc. (NASDAQ: BYND) is a California-based food company that makes and sells plant-based meat products. It is placed seventh on our list of 10 stocks Reddit is piling into before earnings. On July 26, three days after the firm launched on the JD store, it announced that two plant-based meat alternatives of the firm had become permanent additions to the Pizza Hut delivery menu in the United Kingdom. The company missed market estimates on revenue and earnings per share in the first quarter.

On May 24, investment advisory Bernstein upgraded Beyond Meat, Inc. stock to Outperform from Underperform with a price target of $130, noting that food service channels were in the process of rebounding after a difficult 2020.

At the end of the first quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth $338 million in Beyond Meat, Inc., down from 27 in the preceding quarter worth $211 million.

Activision Blizzard, Inc., Match Group, Inc., Uber Technologies, Inc., ViacomCBS Inc., Cloudflare, Inc., and Penn National Gaming, Inc. are some of the stocks Reddit is piling into for earnings, just like Beyond Meat, Inc..

In its Q2 2021 investor letter, Baillie Gifford, an asset management firm, highlighted a few stocks and Beyond Meat, Inc. (NASDAQ: BYND) was one of them. Here is what the fund said:

“One of the most important cognitive elements, is our recognition that consumer patterns and attitudes are evolving increasingly rapidly and with ever greater amplitude. While the human needs for self-actualisation, esteem and belonging are innate and immutable, they are being expressed in new ways. Tastes are being shaped by social groups who are culturally similar but geographically distant. The lines between the physical and digital-self continue to blur.

To those in the throes of middle age, this can be discombobulating. I profess to unease when my daughter recently earned five pounds stacking logs – only to ‘blow’ this pocket money on a pair of virtual Gucci sneakers for her online Roblox character. But we need to be imaginative about the possible size of the market for virtual luxury in the long term and it’s encouraging to observe that Kering is already on the front foot. It is also amply clear that the experienced Long Term Global Growth investors who predate Generations Y & Z, need the help of colleagues in understanding the mood and aspirations of a new cohort of conscious consumers. In this sense, the multigenerational and multicultural dynamic within the LTGG team (and indeed across the broader Baillie Gifford investment floor), has never seemed more important.

It was the younger members of the team who pushed us to be more imaginative on the true size of the opportunity for Beyond Meat. This holding’s investment case is predicated firmly on the removal of the cow as a rather inefficient middle-man between the sun and the stomach. Some within the team see no reason why the opportunity for Beyond Meat shouldn’t ultimately be larger than the $500bn market for traditional protein forms.”

6. Fiverr International Ltd. (NYSE: FVRR)

Number of Hedge Fund Holders: 27
Expected Earnings Date: August 5 (Before Market Open)

Fiverr International Ltd. (NYSE: FVRR) is ranked sixth on our list of 10 stocks Reddit is piling into before earnings. The firm provides online talent solutions and is based in Israel. It has a market cap of close to $9 billion and posted close to $200 million in revenue last year. The firm will reveal earnings for the second quarter before the opening of the market on August 5. In the first quarter, the company beat market expectations on revenue and earnings per share.

On May 25, investment advisory RBC Capital initiated coverage of Fiverr International Ltd. stock with an Outperform rating and a price target of $235, identifying the firm as a disruptor in the field with fast growth.

At the end of the first quarter of 2021, 27 hedge funds in the database of Insider Monkey held stakes worth $398 million in Fiverr International Ltd., down from 29 in the previous quarter worth $528 million.

In its Q1 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Fiverr International Ltd. (NYSE: FVRR) was one of them. Here is what the fund said:

“We sold out of Fiverr International Ltd., the marketplace for freelance services, since the stock ran up multiple fold since our purchase less than a year ago and traded at a valuation that we thought captured much of the future opportunity.”

5. Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH)

Number of Hedge Fund Holders: 34
Expected Earnings Date: August 6 (Before Market Open)

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is placed fifth on our list of 10 stocks Reddit is piling into before earnings. The firm is based in Florida and markets cruises. In earnings results for the first quarter, posted on May 6, the firm reported earnings per share of -$2.03, beating market estimates by $0.04. The company will announce earnings results for the second quarter before the opening of the market on August 6. The stock stands to gain as the vaccinations allow for normal business to resume in the United States.

On June 17, investment advisory JPMorgan maintained an Overweight rating on Norwegian Cruise Line Holdings Ltd. stock and raised the price target to $38 from $35, noting the positive booking momentum and pricing upside as growth catalysts.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Zimmer Partners is a leading shareholder in Norwegian Cruise Line Holdings Ltd. with 4.7 million shares worth more than $130 million.

Brown Capital Management, in its Q4 2020 investor letter, mentioned Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH). Here is what the fund has to say in its letter:

“Norwegian Cruise Line Holdings (NCLH) is a diversified operator of leading global cruise lines spanning market segments from contemporary to luxury under the Norwegian Cruise Line, Oceanic Cruises and Regent Seven Seas Cruises brands. These brands operate a combined 28 ships. Norwegian was eliminated from the portfolio, as we no longer believe it meets our definition of an Exceptional Growth Company, as discussed in our first quarter letter. There are still many unknowns as to when we will see a fully normalized operating environment with a high degree of confidence.”

4. Wayfair Inc. (NYSE: W)

Number of hedge fund holders: 37
Expected Earnings Date: August 5 (Before Market Open)

Wayfair Inc. (NYSE: W) is a Boston-based firm in the ecommerce business that concentrates on home sector products. It is ranked fourth on our list of 10 stocks Reddit is piling into before earnings. It has a market cap of over $25 billion and posted more than $14 billion in revenue last year. The company will announce the second quarter earnings before the opening of the market on August 5. The stock has soared over the past year as online shopping gains momentum around the world.

On July 9, investment advisory Jefferies reiterated a Buy rating on Wayfair Inc. stock and raised the price target to $355 from $350, raising the second quarter gross margin percentage forecast in the ratings update.

Out of the hedge funds being tracked by Insider Monkey, New York-based firm Spruce House Investment Management is a leading shareholder in Wayfair Inc. with 4.8 million shares worth more than $1.5 billion.

In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and Wayfair Inc. (NYSE: W) was one of them. Here is what the fund said:

“During the quarter, Wayfair Inc. was a material contributor to the portfolio after reporting strong earnings, increased revenue, positive operating margins, and strong free cash flow generation. The company’s long-term trajectory is positive, and we are pleased to own this business.”

3. Moderna, Inc. (NASDAQ: MRNA)

Number of Hedge Fund Holders: 39
Expected Earnings Date: August 5 (Before Market Open)

Moderna, Inc. (NASDAQ: MRNA) is a Cambridge-based biotechnology company that concentrates on the development of therapies and vaccines based on messenger RNA. It is placed third on our list of 10 stocks Reddit is piling into before earnings. The company will unveil earnings for the second quarter before the opening of the market on August 5. On August 3, the share price of the firm jumped close to 12% after it announced it had obtained regulatory approval for mRNA-1345, a drug for treating respiratory syncytial virus.

On July 15, investment advisory Jefferies kept a Hold rating on Moderna, Inc. stock but raised the price target to $250 from $170, backing the firm to beat market expectations for earnings in the second quarter.

At the end of the first quarter of 2021, 39 hedge funds in the database of Insider Monkey held stakes worth $1.6 billion in Moderna, Inc., down from 41 in the preceding quarter worth $1.4 billion.

In its Q2 2021 investor letter, Baillie Gifford, an asset management firm, highlighted a few stocks and Moderna, Inc. (NASDAQ: MRNA) was one of them. Here is what the fund said:

“Among the top contributors to Fund performance in the second quarter was Moderna. Moderna has just reported its first profitable quarter in the company’s history – net income for the most recent quarter was $1.2 billion. It reported revenue of $1.9 billion, an impressive increase compared to $8 million a year ago, driven by the sales of its Covid-19 vaccine. Moderna is expecting to deliver up to 1 billion vaccine doses in 2021 and is in discussions to increase global supply to governments around the world. Our long-term focus remains on the transformational potential of Moderna’s technology and its ability to address different diseases.”

2. Penn National Gaming, Inc. (NASDAQ: PENN)

Number of Hedge Fund Holders: 42
Expected Earnings Date: August 5 (Before Market Open)

Penn National Gaming, Inc. is ranked second on our list of 10 stocks Reddit is piling into before earnings. The company is based in Pennsylvania and owns and manages gambling and racing properties. It will release earnings for the second quarter before the opening of the market on August 5. In earnings results for the first quarter, posted on May 6, the firm reported earnings per share of $0.55, beating market estimates by $0.27. The revenue over the period was $1.2 billion, up 13% year-on-year.

On July 28, investment advisory Goldman Sachs maintained a Buy rating on Penn National Gaming, Inc. stock but lowered the price target to $124 from $149, underlining that the update represented share shifts and mark-to-market.

At the end of the first quarter of 2021, 42 hedge funds in the database of Insider Monkey held stakes worth 907 million in Penn National Gaming, Inc., up from 41 in the previous quarter worth $1.3 billion.

In its Q1 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Penn National Gaming, Inc. (NASDAQ: PENN) was one of them. Here is what the fund said:

“Shares of regional casino operation Penn National Gaming, Inc. increased in the quarter on strong share gains in the online sports betting and gaming markets in Michigan and the opening of the large Illinois online sports betting market. Strong sequential growth in revenue and sustained margin improvement in its brick and mortar operations also helped boost the share price. We think these positive developments will lead to improvements in the company’s balance sheet and its EBITDA to free cash flow conversion.”

1. Cloudflare, Inc. (NYSE: NET)

Number of Hedge Fund Holders: 45
Expected Earnings Date: August 5 (After Market Close)

Cloudflare, Inc. is placed first on our list of 10 stocks Reddit is piling into before earnings. The company owns and runs a cloud platform for business clients. It is headquartered in California. The company will announce earnings for the second quarter after the close of the market on August 5. In the first quarter, the firm beat market expectations in earnings per share and revenue. It has a market cap of over $36 billion and posted more than $430 million in revenue last year.

On July 13, investment advisory assumed coverage of Argus Cloudflare, Inc. stock with a Buy rating and a price target of $125, noting that the firm offered a unique set of services critical to enterprise clients.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm SRS Alkeon Capital Management is a leading shareholder in Cloudflare, Inc. with 1.6 million shares worth more than $17 million.

In its Q4 2020 investor letter, Alger Mid Cap Focus Fund, an asset management firm, highlighted a few stocks and Cloudflare, Inc. (NYSE: NET) was one of them. Here is what the fund said:

“Cloudflare. Inc. provides a broad range of network services to businesses of all sizes across the world. Cloudflare’s intelligent global network spans more than 200 cities in over 100 countries. It offers network security, performance and reliability to a growing portion of global web traffic. Today. over 15% of global internet requests go through Cloudflare. Cloudflare’s serverless network design allows this global network to be a key component layer as new developments for edge cornputing. 5G and Internet of Things increase the importance of secure. reliable edge networks. Cloudflare stock outperformed in the fourth quarter following the announcement of Cloudflare One, a cloud-bas. network-as-a-service platform designed to replace the traditional enterprise network infrastructure. The Cloudflare One solution merges existing Cloudflare access and security solutions along with new enterprise-specific features into a unified Zero Trust network that can be managed through a single “pane of glass.” or display screen. With the rapid shift to remote work caused by the pandemic, this product increases Cloudflare’s potential for winning business from enterprise customers seeking to adapt to this new business environment.

While Cloudflare One adoption is still early. Cloudflare has already started to demonstrate an improved ability to sell to large customers. When discussing its third quarter results. Cloudflare said that it is continuing to sign up larger enterprise customers. including its first client to generate more than $10 million in annual recurring revenue. Cloudflare has just started to better monetize its more than 100.000 paying customer base. which along with continued product innovation, gives the company strong growth potential.”

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