5 Best Reddit Stocks To Invest In

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 166

Visa Inc. (NYSE:V) is a San Francisco, California-based digital payments provider through its credit, debit, and prepaid cards.

The company’s Q4 2022 results were widely discussed on Reddit as it outperformed revenue and earnings estimates for the period. Revenue increased from $6.56 billion in Q4 2021 to $7.79 billion in Q4 2022, surpassing the analysts’ forecast of $7.75 billion. Meanwhile, the adjusted EPS of $1.93 was six cents higher than the consensus estimates. Redditors also positively welcomed the company’s 20% increase in dividends and the announcement of a $12 billion share buyback plan. Following the quarterly results, James Fotheringham at BMO Capital gave Visa Inc. (NYSE:V) stock an Outperform rating along with a target price of $241 in an update issued to investors on October 27. The analyst considers Visa Inc. (NYSE:V) stock as an integral holding because it provides safety against inflation and recession, making it one of the best Reddit stocks to invest in.

Here’s what RiverPark Funds said about Visa Inc. (NYSE:V) in its Q3 2022 investor letter:

“We reinitiated a small position in Visa, which we had previously owned for years (selling out of the position at higher levels in February). We continue to believe that the long-term secular growth trend towards digital payments remains intact and has been further enhanced by the COVID crisis. The growth in debit cards, contactless payments, e-commerce, and now, buynow-pay-later (BNPL), are all driving digital payment penetration, and we continue to be impressed with the long-term growth potential of V (and our other payment holdings Mastercard, Adyen, and PayPal).”

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