In this piece, we will take a look at the 13 hot stocks to invest in according to Wall Street analysts. If you want to take a deeper look at some of the hottest stocks of 2023 and 2024, then you can check out 5 Hot Stocks to Invest in According to Wall Street Analysts.
5. Builders FirstSource, Inc. (NYSE:BLDR)
Number of Q4 2023 Hedge Fund Shareholders: 61
Share Price Target Upside: 4.62%
Latest Average Share Price Target: $216
Builders FirstSource, Inc. (NYSE:BLDR) is the well known American home building products retailer headquartered in Irving, Texas. The shares are rated Strong Buy on average, and the average analyst share price target is $216.15. 2024 has been an important year for the stock, particularly after Builders FirstSource, Inc. (NYSE:BLDR) increased its share repurchase program to $1 billion earlier this year.
As of Q4 2023 end, 61 out of the 933 hedge funds profiled by Insider Monkey were Builders FirstSource, Inc. (NYSE:BLDR)’s shareholders. John Smith Clark’s Southpoint Capital Advisors owned the biggest stake which was worth $225 million.
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4. Applied Materials, Inc. (NASDAQ:AMAT)
Number of Q4 2023 Hedge Fund Shareholders: 70
Share Price Target Upside: 5.06%
Latest Average Share Price Target: $215
Applied Materials, Inc. (NASDAQ:AMAT) is one of the biggest semiconductor design and equipment manufacturers in the world. A boom in the semiconductor industry fueled by the hype surrounding artificial intelligence has helped the firm on the financial front as it has beaten analyst EPS estimates in all four of its latest quarters.
By the end of last year’s final quarter, 70 out of the 933 hedge funds tracked by Insider Monkey had invested in the firm. Applied Materials, Inc. (NASDAQ:AMAT)’s largest hedge fund shareholder is David Blood and Al Gore’s Generation Investment Management due to its $1.1 billion stake.
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3. Juniper Networks, Inc. (NYSE:JNPR)
Number of Q4 2023 Hedge Fund Shareholders: 33
Share Price Target Upside: 8.12%
Latest Average Share Price Target: $40
Juniper Networks, Inc. (NYSE:JNPR) is a mid sized networking product company headquartered in Sunnyvale, California. Its investors were in for some great news in March 2024 when Gartner named Juniper Networks, Inc. (NYSE:JNPR) a leader in providing network infrastructure products.
Insider Monkey’s December quarter of 2023 survey covering 933 hedge funds revealed that 33 had bought and owned Juniper Networks, Inc. (NYSE:JNPR)’s shares. Dmitry Balyasny’s Balyasny Asset Management was the biggest investor through its $68.9 million investment.
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Follow Juniper Networks Inc (NYSE:JNPR)
2. Arch Capital Group Ltd. (NASDAQ:ACGL)
Number of Q4 2023 Hedge Fund Shareholders: 40
Share Price Target Upside: 8.58%
Latest Average Share Price Target: $100
Arch Capital Group Ltd. (NASDAQ:ACGL) is an insurance and reinsurance products provider headquartered in Pembroke, Bermuda. The firm has been performing well financially, as it has beaten analyst EPS estimates in all four of its latest quarters.
During last year’s fourth quarter, 40 out of the 933 hedge funds surveyed by Insider Monkey had held a stake in the firm. Arch Capital Group Ltd. (NASDAQ:ACGL)’s largest hedge fund shareholder is Brian Ashford-Russell and Tim Woolley’s Polar Capital as it owns $233 million worth of shares.
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1. Uber Technologies, Inc. (NYSE:UBER)
Number of Q4 2023 Hedge Fund Shareholders: 129
Share Price Target Upside: 9.49%
Latest Average Share Price Target: $86
Uber Technologies, Inc. (NYSE:UBER) is a technology company known for its ride share software platform. 2024 has seen the resurgence of its legal battles regarding contract work, and the firm is leaving Minneapolis after a controversial minimum wage law.
129 out of the 933 hedge funds part of Insider Monkey’s Q4 2023 database were Uber Technologies, Inc. (NYSE:UBER)’s shareholders. D. E. Shaw’s D E Shaw owned the biggest stake which was worth $886 million.
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Should you invest $1,000 in Uber right now?
Before you buy stock in UBER, consider this:
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Disclosure: None. You can also take a look at 11 Most Undervalued Cybersecurity Stocks To Buy According To Analysts and 15 NATO Members with the Largest Militaries.
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