In this article, we take a look at five stocks that are gaining today. If you want to take a look at some more stocks that are rising on Friday and the latest market situation, go to Investors Are Bullish on These 10 Stocks Today.
5. Coupang, Inc. (NYSE:CPNG) has climbed 4.25% as of 12:15 PM ET after Stanley Yang at JPMorgan upgraded the stock from a Neutral to an Overweight rating with a price target of $17. The target price provides a potential upside of over 41% from Thursday’s closing price. The analyst thinks that the stock of the South Korea-based e-commerce company has been oversold as it has lost 60% of its value since the start of 2022. Yang thinks that Coupang, Inc. (NYSE:CPNG) is expected to gain market share in the future and surprise its investors when it reveals Q1 2022 results on May 11. The analyst sees the risk vs. reward profile of Coupang, Inc. (NYSE:CPNG) stock as favorable.
As of Q4 2021, 29 hedge funds held a stake in Coupang, Inc. (NYSE:CPNG).
4. Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has observed an upward movement of 7.71% as of 12:15 PM ET after the target price of the San Ramon, California-based IT services company was increased from $20 to $23 by Ryan Potter at Citi Group. Potter maintained a Buy rating on Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) stock. The target price reflects a potential upside of over 52% from the last closing price. The analyst highlighted the “strong beat across the board” and higher-than-anticipated guidance as primary drivers for the revision in target price.
Of the 924 hedge funds in Insider Monkey’s database, Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was held by 15 hedge funds as of Q4 2021. Driehaus Capital is the leading investor in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN), with a stake worth over $109.9 million.
3. Cigna Corporation (NYSE:CI) has risen 4.16% as of 12:16 PM ET after the Bloomfield, Connecticut-based healthcare and insurance company raised its annual adjusted profit outlook. Cigna Corporation (NYSE:CI) reported a fall in COVID-related costs along with no sudden or significant rise in the demand for medical procedures that were put on the backburner due to the pandemic. Cigna Corporation (NYSE:CI) also revealed that it had repurchased 7.6 million shares of common stock from YTD through May 5.
On a sequential basis, the number of hedge funds invested in Cigna Corporation (NYSE:CI) decreased by five to 53 funds as of Q4 2021.
2. Apple Inc. (NASDAQ:AAPL) is 0.64% in the green as of 12:13 PM ET after a patent filed by the Cupertino, California-based tech giant suggested that a future version of iPad or iPadOS could have the ability to modify the tablet when attached to an external keyboard. This would provide users with an experience similar to the macOS. There is also a possibility of a MacBook and iPad pairing down the line. Apple Inc. (NASDAQ:AAPL) is one of the most owned stocks amongst the hedge funds.
As of Q4 2021, 134 hedge funds held a stake in Apple Inc. (NASDAQ:AAPL). Fisher Asset Management was the leading investor in Apple Inc. (NASDAQ:AAPL) during Q1 2022, with a stake worth over $11 billion.
1. McKesson Corporation (NYSE:MCK) is up 4.19% as of 12:16 PM ET after the target price of the Irving, Texas-based distributor of pharmaceuticals, medical supplies, and care management tools was increased from $352 to $380 by Eric Coldwell at Baird. The target price provides a potential upside of 20.54% from the last closing price. The analyst maintained an Outperform rating on McKesson Corporation (NYSE:MCK) stock. He further commented that although the Q1 results were mixed, they reflect the continued growth of McKesson Corporation’s (NYSE:MCK) core business.
McKesson Corporation (NYSE:MCK) was owned by 57 hedge funds as of Q4 2021.
You can also take a peek at the 10 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital and 12 Best American Stocks To Buy in 2022.
