In this article, we will take a look at the top 5 financial stocks today. For a detailed analysis of these companies, go directly to the Top 10 Financial Stocks Today.
5. Coinbase Global, Inc. (NASDAQ: COIN)
Number of Hedge Fund Holders: N/A
Coinbase Global, Inc. (NASDAQ: COIN) is a Delaware-based cryptocurrency exchange firm. It is ranked fifth on our list of top 10 financial stocks today and was founded in 2012. Coinbase lets users deal in popular crypto currencies like Bitcoin and Ethereum, as well as others. The exchange went public last month at a blockbuster initial public offering, but share price has fallen over the past few days as retail investors looking to turn a quick profit on their investments abandon the ship. However, the core business of the firm bodes well for future growth.
Coinbase Global, Inc. (NASDAQ: COIN) stock was given an Outperform rating by investment advisory Oppenheimer on May 10 with a price target of $434. However, the share price of the firm still dropped close to 2% after the ratings update in tandem with an overall lull for the crypto industry in general throughout the market.
Despite initial misgivings, several hedge funds have disclosed holdings in crypto-related stocks in recent weeks, including Third Point LLC and Ark Investment Management, among others.