5 Best Upside Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 177

Meta Platforms, Inc. (NASDAQ:META) shares have declined over 64% year to date given rising interest rates have caused capital to move from big tech stocks into Treasury bonds. Furthermore, the company’s substantial metaverse spending and competition from TikTok has led to lower future earnings estimates than before.

Nevertheless, Meta Platforms, Inc. (NASDAQ:META) still has upside in the long term if it keeps its user base and the company further monetizes its user base with future AI services. Shares trade for a forward P/E ratio of 15.1, which is fairly attractive for a company with Meta Platforms, Inc. (NASDAQ:META)’s quality businesses and its potential.