Markets

Insider Trading

Hedge Funds

Retirement

Opinion

11 Best Gig Economy Stocks to Buy According to Hedge Funds

Page 1 of 10

In this article, we will take a look at the 11 Best Gig Economy Stocks to Buy According to Hedge Funds.

During the COVID-19 pandemic, the gig economy stocks experienced one of the most profitable periods. As remote work opportunities increased, individuals and freelancers took advantage of the growing gig economy trend. However, post-pandemic the gig economy stocks came back to their normal trend. Still, the remote culture got a massive push that continues to grow and support most of the gig economy companies today.

Also Read: Jim Cramer Discusses These 11 Stocks & President Trump’s Sovereign Wealth Fund

According to the report from ResearchAndMarkets, the global market for freelance platforms is expected to reach $13.8 billion by 2030, growing from $4.8 billion in 2023. Whereas, research from Payoneer shows that the U.S. and the U.K. are two of the top destinations for freelancers, with diverse markets offering a range of opportunities for freelancers. Brazil, Pakistan, Ukraine, and the Philippines are also top locations with large and highly skilled workforces that support the global freelance market.

Asia remains one of the fast-growing freelance markets backed by India, Bangladesh, Pakistan, Ukraine, and the Philippines, with a large pool of talented workers and a burgeoning tech industry. Russia and Serbia are also experiencing a surge in freelancers, with more businesses looking for freelance contractors.

The North American market remains the highest-paid market for remote or freelance work. The average hourly rate in North America is around $44, while Western Europe follows next with an average per-hour rate of $31. Freelancers in Asia earn around $22 per hour on average, as per the report.

The growing freelance market and remote work are driving the gig economy and it can be a great time to invest in gig economy stocks. With that, let’s take a look at the 11 Best Gig Economy Stocks to Buy According to Hedge Funds.

Our Methodology

We shifted through ETFs and online rankings to compile a list of gig economy stocks. We have selected the 11 gig economy stocks to buy with the highest number of hedge fund holders, as of Q3 2024. The stocks are ranked in ascending order based on hedge fund sentiment.

Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

11 Best Gig Economy Stocks to Buy According to Hedge Funds

11. Upwork Inc. (NASDAQ:UPWK)

No. of Hedge Fund Holders: 24

Upwork Inc. (NASDAQ:UPWK) is a communication services company that operates a global freelancing platform, connecting various businesses with individuals and agencies. With the gig economy continuing to expand, the company is well-positioned to benefit from this structural shift in the labour market. Upwork reportedly holds the largest market share in the global freelance market.

On January 6, Jefferies analyst Brent Thill upgraded the price target on UPWK shares from $19 to $20, maintaining a Buy rating on the stock. The analyst shared thoughts on Upwork, stating that a seasonally challenging Q1 leads the firm to believe in a more cautious, selective approach heading into 2025. However, Thill expects the company to accelerate in the second half of 2025, driven by more contributions from AI and as “positive revisions on conservative guidance come through.”

In Q3 2024, Upwork Inc. (NASDAQ:UPWK) posted record net income and a 193% rise in FCF, driven by its one-off billing schedule and cost-reduction initiatives. The company is also focusing on driving the audience towards its newly launched Business Plus membership, targeting to attract more consistent client spending. The company is expected to generate between $756 million and $761 million in revenues for the full year 2024, up by nearly 9.7% or 10.4% year-over-year.

10. Payoneer Global Inc. (NASDAQ:PAYO)

No. of Hedge Fund Holders: 30

Payoneer Global Inc. (NASDAQ:PAYO) is a financial technology company that allows SMBs to make transactions and do business globally. The company has penetrated global markets, particularly in emerging markets, to meet the demand for online payments. The company has built its market around SMBs and manages their cross-border and other needs from a single platform. Payoneer supports over 100 banking and payment service providers internationally.

On February 3, Deutsche Bank analyst Nate Svensson initiated coverage on PAYO shares with a Buy rating and a price target of $13 per share. The analyst initiated the rating on the stock highlighting the company’s strong positioning in cross-border fintech services for SMBs. Payoneer operates in over 190 countries and serves more than 2 million active customers, which allows the firm to benefit from key fintech trends. Svensson stated that the firm has the potential to accelerate core revenue growth beyond 2025. The analyst also cited risks including the company’s exposure to macro-sensitive micro-SMBs in emerging markets.

On the back of strong performance in the third quarter of 2024, Payoneer Global Inc. (NASDAQ:PAYO) increased the full-year 2024 guidance for revenue and adjusted EBITDA by $30 million. In Q3, the company posted a record-breaking quarter in both volume and revenue, with total volume soaring for a seventh consecutive quarter to 25%. The company’s B2B volume increased by 57% during the quarter, adding to Payoneer’s overall growth and revenue.

Page 1 of 10

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29.99, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.99.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…