10 Best Metaverse Stocks To Buy According to Hedge Funds

6. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 107

Adobe Inc. (NASDAQ:ADBE) is one of the largest and most diversified software companies globally which focuses on changing the world through personalized digital experiences. The firm empowers everyone to imagine, create, and bring any digital experience to life. Adobe was founded by John Warnock and Charles Geschke in 1982. The firm has three segments including Digital Media, Publishing and Advertising.

Many of Adobe’s existing products such as Photoshop, Illustrator, After Effects, Premiere Pro, and Dimension, are commonly used in the creation of digital content. While the firm has been dominant in the market for two-dimensional content creation, it released a set of new software tools aimed to aid 3D content creation for the metaverse in 2022. During the same year, Adobe Acrobat announced entering the metaverse by introducing immersive document creation, sharing, and e-signing right from any Meta Quest device. Adobe mentioned this move as the new frontier of remote work and collaboration.

Simultaneously, Adobe advanced metaverse with powerful 3D and immersive experiencing by making updates to Adobe Substance 3D, a software suite for 3D content creation which included new plugins and a 3D Materials SDK for developers.

Adobe Inc. (NASDAQ:ADBE) successfully posted record revenue in Q3 2024. The company had a revenue of $5.41 billion in the quarter, up 11% year-over-year. It also delivered cash flows of more than $2 billion. Digital Media segment revenue was up 11% year-over-year while Digital Experience segment revenue climbed 10% year-over-year. The management was optimistic regarding the prospects of future growth considering the massive markets the firm is currently catalyzing.

While Adobe Inc. (NASDAQ:ADBE) has been changing the world through digital experiences for over 40 years and pursues a mission to make the digital world something that everyone can participate in and benefit from, it sees the metaverse as a natural evolution of its mission. The firm ranks on our list of the 10 best metaverse stocks to buy according to hedge funds.