5 Best Advertising Agency Stocks to Buy

1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 194

Meta Platforms, Inc. (NASDAQ:META) is the second biggest player in the online ads market and the company’s efforts to reignite growth are working as evident from its Q1 results. Meta Platforms, Inc. (NASDAQ:META)’s ad revenue in the first quarter of 2023 jumped about 4.1% on a YoY basis to reach $28.1 billion.

Meta Platforms, Inc. (NASDAQ:META) has a special Media and Creative Agency hub which provides resources to small businesses to find ways to promote and advertise their business on the Facebook platform. A total of 194 hedge funds tracked by Insider Monkey were long Meta Platforms, Inc. (NASDAQ:META) as of the end of the fourth quarter of 2022.

Giverny Capital made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q1 2023 investor letter:

“Meta Platforms, Inc. (NASDAQ:META) was our leading performer, up 76% for the quarter. I have written quite a bit about Meta in prior letters and I feel like I got the basics right: Meta never had an earnings or engagement problem so much as an expense management problem. Once founder and CEO Mark Zuckerberg announced layoffs and a new commitment to efficiency, the stock doubled in a few months.”

You can also take a peek at 10 Most Profitable Small Businesses in 2023 and 10 Best April Dividend Stocks To Buy.