13 Best Meme Stocks To Buy Right Now

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2. MicroStrategy Incorporated (NASDAQ:MSTR)

Number of Hedge Fund Holders: 44

MicroStrategy Incorporated (NASDAQ:MSTR) offers AI-powered enterprise analytics software and services across the US, the Middle East, Europe, Africa, and other global markets. Investors have drawn comparisons between MicroStrategy and other meme stocks due to its heavy investment in Bitcoin last year, even as the cryptocurrency continued to reach new highs. On February 7, Keefe, Bruyette & Woods initiated coverage of the stock, assigning it an Outperform rating and a price target of $560.

In 2024, MicroStrategy Incorporated (NASDAQ:MSTR) generated about $464 million in total revenue, a 7% decline from the previous year, mainly due to its shift from on-premise software to cloud-based services. However, subscription services saw strong growth, with Q4 revenue rising 48% year-over-year and full-year revenue reaching $106.7 million, a 32% increase. This growth was driven by a 57% increase in subscription billings in Q4, reaching approximately $65 million. To strengthen its financial position, MSTR raised $584 million through perpetual preferred stock and issued $21.7 billion in Class A shares. Since August 2020, it has allocated $836 million from software operations to Bitcoin purchases. These financial strategies have helped MicroStrategy raise $31 billion in capital. It is one of the best meme stocks to buy.

According to Insider Monkey’s fourth quarter database, 44 hedge funds were bullish on MicroStrategy Incorporated (NASDAQ:MSTR), increasing significantly from 25 funds in the last quarter.

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