5 Cheap Stocks to Buy That Outperformed in 2022

1. Visa Inc. (NYSE:V)

Year to Date Return as of December 14: -3.66%

Number of Hedge Fund Holders: 165

Visa Inc. (NYSE:V) ranks #1 on our list of 12 Cheap Stocks to Buy That Outperformed in 2022 given 165 hedge funds in our database owned shares of the payments leader at the end of the third quarter. Although shares of Visa Inc. (NYSE:V) have declined 3.66% year to date, they have outperformed the S&P 500’s decline of 16.7% in the same period. There could be upside in the long term as analysts have a price target of $249.36 per share.

RiverPark Large Growth Fund commented on Visa Inc. (NYSE:V) in a 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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