In this article, we discuss the 5 best stocks to make money. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Stocks to Make Money.
5. 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS)
Number of Hedge Fund Holders: 24
1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) markets gifts for different occasions. Craig-Hallum and DA Davidson are bullish on the stock heading into the holiday season on the back of improved guidance and solid third quarter earnings results. There has been a lot of chatter around the company on Reddit forums as the new ecommerce ventures of the firm go online, promising a boost in total sales and profits.
1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) is the largest gourmet food and floral gift provider, controlling nearly 27% of the total market share. Labor shortages have failed to significantly affect margins for the firm, as investors had earlier feared.
At the end of the second quarter of 2021, 24 hedge funds in the database of Insider Monkey held stakes worth $93 million in 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), up from 22 the preceding quarter worth $62 million.
4. Open Lending Corporation (NASDAQ:LPRO)
Number of Hedge Fund Holders: 24
Open Lending Corporation (NASDAQ:LPRO) provides risk analytics solutions. The stock has soared in recent weeks after reports that Stellantis, an automotive firm, had acquired First Investor Financial Services. Open Lending had established a partnership with First Investor in the third quarter that will likely lead to a huge new opportunity for the firm if it can extend it to Stellantis as a whole.
Raymond James analyst John Davis recently maintained a Strong Buy rating on Open Lending Corporation (NASDAQ:LPRO) stock with a price target of $52, noting that the rumored Stellantis deal would boost earnings of the company by 80%.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Washington Harbour Partners is a leading shareholder in Open Lending Corporation (NASDAQ:LPRO) with 2.1 million shares worth more than $91 million.
3. Coinbase Global, Inc. (NASDAQ:COIN)
Number of Hedge Fund Holders: 49
Coinbase Global, Inc. (NASDAQ:COIN) operates as a fintech firm for the crypto economy. The firm recently beat market estimates on earnings per share for the third quarter by $0.19 but missed on revenue. However, analysts like Canaccord, JPM Securities, and Piper Sandler have reaffirmed their bullish long-term outlook on the stock after the earnings call, touting the potential of NFTs direct deposits as huge catalysts for growth.
Coinbase Global, Inc. (NASDAQ:COIN) stock has also benefited from a recent rally in cryptocurrencies, with popular coins like Bitcoin and Ether climbing to record highs as smaller ones like Cardano and Litecoin also increase in value.
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.
2. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 60
Tesla, Inc. (NASDAQ:TSLA) has perhaps been the hottest stock in the market in the past few months, going on an incredible rally that saw share price climb 700% in a few months at the start of the year and then taking a breather through the second quarter before bouncing back in the third, climbing the $1 trillion market cap barrier. The stock has room to climb further after reports that suggest that the company is planning to open a second electric vehicle factory in Shanghai.
Tesla, Inc. (NASDAQ:TSLA) recently revealed that it had sold 54,391 China-made cars in October and shipped 40,666 of them. Between June and September this year, the firm had produced 237,823 vehicles and delivered 241,391 of them, up 64% and 73% year-on-year, respectively.
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. Atlassian Corporation Plc (NASDAQ:TEAM)
Number of Hedge Fund Holders: 64
Atlassian Corporation Plc (NASDAQ:TEAM) is an application software firm. The stock has returned more than 137% to shareholders over the past twelve months. Most of this rally has been on the back of a successful cloud transition of the firm that has helped it beat market estimates on earnings over the last two quarters. The subscription revenue of the company is also increasing, evidenced by the 50% increase registered in the second quarter.
Canaccord analyst David Hynes recently raised the price target on Atlassian Corporation Plc (NASDAQ:TEAM) stock to $500 from $325 and maintained a Buy rating, noting that raised guidance and subscription growth pointed to the positive direction the firm was taking.
At the end of the second quarter of 2021, 64 hedge funds in the database of Insider Monkey held stakes worth $4.1 billion in Atlassian Corporation Plc (NASDAQ:TEAM), down from 67 the preceding quarter worth $3.9 billion.
Here is what Baron Opportunity Fund has to say about Atlassian Corporation Plc (NASDAQ:TEAM) in its Q2 2021 investor letter:
“Atlassian Corporation Plc is a software leader that makes tools that are used by thousands of teams worldwide, thus its ticker TEAM. Atlassian’s tools “help teams collaborate, build, and create together” (quote from Atlassian’s website), with an emphasis on designing, developing, and maintaining software, including JIRA for team planning and project management, Confluence for team content creation and sharing, HipChat for team messaging and communications, Bitbucket for team software code sharing and management, and JIRA Service Desk for team services and support use cases. Atlassian is the recognized market leader for information technology team planning and project management software, and has extended its product offering into tangential areas, such as those listed above. The company is in the midst of transitioning its business model to the cloud, which will help it drive faster product innovation, more seamlessly integrate its product families, and raise the effective price realization for its suite of products. Atlassian is run by its two visionary founders, has strong competitive advantages, and we think it should be able to grow revenue over 25% for many years with best-in-class free cash flow margins.”
You can also take a peek at 10 Best EV SPACs to Buy Now and 10 Best Lithium and Phosphate Stocks to Buy Now.
