In this article, we discuss the 5 best aggressive stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 11 Best Aggressive Stocks To Buy Now.
5. Roblox Corporation (NYSE:RBLX)
Number of Hedge Fund Holders: 49
BTIG analyst Clark Lampen recently initiated coverage of Roblox Corporation (NYSE:RBLX) stock with a Buy rating and a price target of $98, underlining that the firm had solid daily active user and developer growth despite tough competition. The firm owns and runs an online entertainment platform. Over the past few days, the interactive services offered by the online platform have been compared to advertisements of a rebranded Facebook.
Roblox Corporation (NYSE:RBLX) recently proposed a senior notes offering worth $1 billion. The firm intends to use the offering, open only to institutional buyers, for general corporate purposes.
At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $4.9 billion in Roblox Corporation (NYSE:RBLX), up from 46 in the previous quarter worth $3.3 billion.
In its Q2 2021 investor letter, Guardian Fund, an asset management firm, highlighted a few stocks and Roblox Corporation (NYSE:RBLX) was one of them. Here is what the fund said:
“The wonder-tale stories of children’s books show us that there are infinite possibilities of stories and worlds. The metaverse, the idea that describes the shared 3D spaces in a virtual universe, is enabling people to create fiction. Over the past six months, we initiated a new investment in Roblox. The firm was founded in 1989 by David Baszucki and Erik Kassel when they programmed a physics lab where students could study how cars would crash.
Today, Roblox has become a leading platform with a mission to build a human co-experience that enables billions of users to play, learn, and build friendships in the metaverse. Recent advances in cloud computing, computing devices, and machine learning, enable the materialization of the metaverse. Take what we have in virtual reality today and fast-forward a few decades. Humans will be able to experience unimaginable things and in a couple of millennia virtual economies are likely to become bigger than the physical trade on planet Earth.
Over the first quarter of 2021, Roblox reported 140% revenue growth, 42.1 million daily active users, and 9.7 billion engaged hours. The opportunity for this platform is massive.”
4. Coinbase Global, Inc. (NASDAQ:COIN)
Number of Hedge Fund Holders: 49
Coinbase Global, Inc. (NASDAQ:COIN) owns and runs a crypto exchange platform. Since a blockbuster debut on the stock market in April, the stock has slumped in value amid a Chinese government crackdown against crypto and regulatory uncertainty in the United States. However, it is becoming increasingly evident that blockchain technology is here to stay. Even hedge funds have turned bullish on the tech in recent months.
On October 26, investment advisory Piper Sandler maintained an Overweight rating on Coinbase Global, Inc. (NASDAQ:COIN) stock and raised the price target to $360 from $335, pointing to the greater mainstream adoption of crypto as the basis for the bullish view.
Among the hedge funds being tracked by Insider Monkey, New York-based firm ARK Investment Management is a leading shareholder in Coinbase Global, Inc. (NASDAQ:COIN) with 5.6 million shares worth more than $1.4 billion.
3. Zoom Video Communications, Inc. (NASDAQ:ZM)
Number of Hedge Fund Holders: 59
Zoom Video Communications, Inc. (NASDAQ:ZM) went on a record rally through the pandemic as businesses were forced to shift to digital. Since vaccinations have allowed for the resumption of normal activity, the stock has slumped in value. In the past twelve months, it is now down 38%. However, the company has been busy monetizing the platform and focusing on enterprise solutions to reinvent itself.
Zoom Video Communications, Inc. (NASDAQ:ZM) stock recently soared by 40% after JPMorgan upgraded it to Overweight from Neutral with a price target of $385, noting that the stock may fall further in the coming months and offer investors a better risk/reward profile.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Tiger Global Management LLC is a leading shareholder in Zoom Video Communications, Inc. (NASDAQ:ZM) with 4.2 million shares worth more than $1.6 billion.
In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Zoom Video Communications, Inc. (NASDAQ:ZM) was one of them. Here is what the fund said:
“We concluded our campaigns in Zoom Video Communications. We have been paring our position in Zoom for several quarters, anticipating the reduced need for video conferencing as vaccination rates climb and people return to their workplaces. That said, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—sustainably higher remote work arrangements, more online learning and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YoY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we decided to end our successful investment campaign in favor of opportunities in our pipeline with more attractive near-term growth prospects.”
2. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 60
Tesla, Inc. (NASDAQ:TSLA) has been perhaps the single biggest disruptive force in the market over the past few years. The stock has crossed $1 trillion in market capitalization and is far ahead of other automakers in terms of EV sales and deliveries across the world. However, there have been increased murmurings about the valuation of the firm in recent months, with investors like Michael Burry placing multi-million dollar short bets against the firm.
Piper Sandler analyst Alexander Potter recently raised the price target on Tesla, Inc. (NASDAQ:TSLA) stock to $1,300 from $1,200 and kept an Overweight rating, noting that EV launches of other brands were falling flat.
At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc. (NASDAQ:TSLA), down from 62 in the previous quarter worth $10 billion.
Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2021 investor letter:
“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”
1. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
Number of Hedge Fund Holders: 66
In early September, Needham analyst Alex Henderson had maintained a Buy rating on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock and raised the price target to $340 from $335, noting that the quarterly earnings of the firm were “superb”. The company markets security solutions for cloud companies. As the cloud market grows, so does the business of CrowdStrike.
In October, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) announced a series of new security products that offer customers better response times and faster detection of threats. The stock climbed over 7% after the products were announced.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) with 7.5 million shares worth more than $1.8 billion.
In its Q1 2021 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was one of them. Here is what the fund said:
“CrowdStrike provides cloud-based software used in the security of computers, servers, and mobile phones. The stock pulled back a bit during the quarter as investor sentiment shifted away from stocks with higher valuation multiples. We remain shareholders, as the protection of enterprise assets and cloud workloads from various forms of cyberattacks remains more important than ever for many enterprises, and we believe this will continue to result in a strong demand environment for CrowdStrike’s innovative products and services.”
You can also take a peek at 10 Best Medical Stocks Under $10 and 10 Best Cash App Stocks to Invest In.
