5 Best Young Stocks to Buy Now

1. Coupang, Inc. (NYSE:CPNG)

Number of Hedge Fund Holders: 37    

Coupang, Inc. (NYSE:CPNG) owns and operates an e-commerce business through its mobile applications and Internet websites primarily in South Korea. It is one of the elite IPO stocks to invest in. On August 15, Morgan Stanley analyst Seyon Park maintained an Overweight rating on Coupang, Inc. (NYSE:CPNG) stock and raised the price target to $25 from $18, noting that the company was scaling high margin ads and driving a faster EBITDA trajectory. 

At the end of the second quarter of 2022, 37 hedge funds in the database of Insider Monkey held stakes worth $2.9 billion in Coupang, Inc. (NYSE:CPNG), compared to 39 in the previous quarter worth $3.8 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Coupang, Inc. (NYSE:CPNG) was one of them. Here is what the fund said:

“During the quarter, we also added to our position in the leading Korean e-commerce player, Coupang, Inc. (NYSE:CPNG), taking advantage of the stock’s volatility. While the stock sold off, the business remains robust, growing revenues by 32% in the most recent quarter (year-over-year in constant currency) while gaining market share (the industry grew 8%) and reaching profitability in its product commerce segment three quarters ahead of plan.”

You can also take a peek at 10 Best Stocks to Buy According to Angela Aldrich’s Bayberry Capital Partners and Top 10 Tech Stocks to Buy According to Billionaire Louis Bacon.

Follow Insider Monkey on Twitter