5 Best Digital Money Stocks to Invest In

1. Visa Inc. (NYSE: V)

Number of Hedge Fund Holders: 164

Visa Inc. (NYSE: V) is a payments technology company operating worldwide. It facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It ranks 1st on our list of the best digital money stocks to invest in.

This June, Visa Inc. (NYSE: V) was among the contributors in the $300 million raised by Blockchain Capital to make digital money more accessible, and it also announced its acquisitions of the fintech startup Tink for about $2.1 billion. CFRA also mentioned Visa Inc. (NYSE: V) in its list of best buys in the information technology sector. In the same month, Credit Suisse raised its price target on Visa Inc. (NYSE: V) to $285, while keeping its Outperform rating on the stock. Piper Sandler also has an Overweight rating on Visa Inc. (NYSE: V) with a $260 price target.

In the fiscal second quarter of 2021, Visa Inc. (NYSE: V) had an EPS of $1.38, beating estimates by $0.11. The company’s revenue was $5.73 billion, beating estimates by $175.03 million, and it has a gross profit margin of 96.6%. The stock has gained 12.08% in the past 6 months and 10.05% year to date.

As of the end of the first quarter of 2021, 164 hedge funds out of the 866 tracked by Insider Monkey held stakes in Visa Inc. (NYSE: V), worth roughly $26.5 billion. This is compared to 166 hedge funds in the previous quarter, with a total stake value of about $23.5 billion.

ClearBridge Investments, an investment management firm, mentioned Visa Inc. (NYSE: V) in its first-quarter 2021 investor letter. Here’s what they said:

“To make room for these new names with more attractive outlooks related to the reopening, we sold out of companies where the thesis is not playing out at the pace we expected including Visa.”

You can also take a look at 17 Largest Fintech Companies in the World and 15 Fastest-Growing Fintech Companies.

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