5 Stocks Hedge Funds and Wall Street Analysts Are Crazy About

In this article, we discuss 5 stocks hedge funds and Wall Street analysts are crazy about. If you want to see more stocks in this selection, check out 16 Stocks Hedge Funds and Wall Street Analysts Are Crazy About.

5. General Motors Company (NYSE:GM)

Upside Potential: 63.62%
Number of Hedge Fund Holders: 72

General Motors Company (NYSE:GM) is one of the stock hedge funds, and Wall Street analysts are crazy about going by its edge in designing, building, and selling trucks, crossovers, dares, and automobile parts. The company has been making waves in developing electric and self-driving cars to strengthen its industry edge.

The automaker has launched an all-electric car six years after selling its mass-market brands in the region. The move allows the company to build scale in the electric business. The launch comes on the stock hitting a three-year low amid escalating workers strikes in the US. The deep pullback means the stock is trading at a significant discount.

Based on 15 Wall Street analysts offering 12-month price targets for General Motors Company (NYSE:GM) in the last three months, the average price target is $48.53, with a high forecast of $95.00 and a low forecast of $28.00. The average price target represents a 63.62% change from the last price of $29.66.

General Motors Company (NYSE:GM) had 72 hedge fund investors at the end of June 30 this year, out of the 910 hedge funds profiled by Insider Monkey. The firm’s largest investor is Harris Associates, which maintained roughly 38.53 million shares for about $1.49 billion of General Motors Company (NYSE:GM).

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4. Alibaba Group Holding Limited (NYSE:BABA)

Upside Potential: 67.63%
Number of Hedge Fund Holders: 112

Alibaba Group Holding Limited (NYSE:BABA) has always been the go-to company for investors eyeing exposure in China’s robust internet sector. The company offers essential tech infrastructure and marketing solutions for businesses to connect and operate. It’s among China’s top internet firms, operating in seven key segments: China Commerce, International Commerce, Local Consumer Services, Cloud, Digital Media, Innovation Initiatives, and more.

With China’s economy recovering from the COVID-19 slowdown, Alibaba Group Holding Limited (NYSE:BABA) is one company well poised to benefit from increased consumer spending. The growth of China’s e-commerce market is much more substantial than any headwind that might hit the entire retail sector, affirms Wave Alibaba is a stock hedge fund and Wall Street analysts are crazy about.

The average price target for Alibaba Group Holding Limited (NYSE:BABA) is $140.84. This is based on 19 Wall Street analysts’ 12-month price targets issued in the past 3 months. The highest analyst price target is $187; the lowest forecast is $100. The average price target represents a 67.63% Increase from the current price of $84.02.

Insider Monkey took a look at hedge fund portfolios for Alibaba Group Holding Limited (NYSE:BABA) Q2 and found out that 112 had a stake in the company. Appaloosa Management LP was the firm’s largest shareholder which had roughly 4.48 million shares for about $372.99 million of Alibaba Group Holding Limited (NYSE:BABA).

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3. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Upside Potential: 67.98%
Number of Hedge Fund Holders: 67

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a communication services play that hedge funds and Wall Street analysts are crazy about owing to its discounted valuation. As a media and entertainment giant, the company produces and releases feature films for exhibition in theatres. It also has and licenses television programs to third parties and networks.

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is one stock trading at a significant discount after a steep pullback from its all-time highs. With its cheap valuation, it is one of the stock hedge funds that Wall Street analysts are crazy about while considering its long-term prospects.

Based on 15 Wall Street analysts offering 12-month price targets for Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the last three months, the average price target is $17.42, with a high forecast of $26.00 and a low forecast of $13.00. The average price target represents a 67.98% change from the last price of $10.37.

At the end of Q2 this year, Warner Bros. Discovery, Inc. (NASDAQ:WBD) had 67 hedge fund investors out of 910 profiled by the Insider Monkey database, up from 63 in the preceding quarter.

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2. Tenet Healthcare Corporation (NYSE:THC)  

Upside Potential: 75.49%
Number of Hedge Fund Holders: 74

Tenet Healthcare Corporation (NYSE:THC) is a diverse healthcare services provider, running general hospitals with acute care and intensive care units.

Tenet Healthcare Corporation (NYSE:THC) remains one of the best stocks to buy, according to hedge funds and Wall Street analysts, as the company continues to see positive momentum with robust same-facility volume and revenue growth. Strategic growth initiatives and operating discipline affirm the company’s ability to generate long-term value.

Based on 13 Wall Street analysts offering 12-month price targets for Tenet Healthcare Corporation (NYSE:THC) in the last three months, the average price target is $94.92, with a high forecast of $105.00 and a low forecast of $86.00. The average price target represents a 75.49% change from the last price of $54.09.

Out of 910 hedge funds profiled by Insider Monkey, there were around 74 hedge fund investors who had invested in Tenet Healthcare Corporation (NYSE:THC). Larry Robbins-led Glenview Capital was the largest shareholder of Tenet Healthcare Corporation (NYSE:THC), which owned around 6.47 million shares that are valued at $526.43 million.

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1. Block, Inc. (NYSE:SQ)

Upside Potential: 84.99%
Number of Hedge Fund Holders: 66

Based in San Francisco, California, Block, Inc. (NYSE:SQ) is a company that develops and offers tools that allow sellers to accept card payments and provide reporting and analytics. The company offers hardware products, including Square Register, which combines point-of-sale software and payments technology.

Shares of Block, Inc. (NYSE:SQ) have had a rough run going by the deep pullback. Nevertheless, the company is getting a new CEO, with CEO Alyssa Henry stepping down. Management changes could be the catalyst to reinvigorate the company’s prospects.

Based on 32 Wall Street analysts offering 12-month price targets for Block, Inc. (NYSE:SQ) in the last three months, the average price target is $79.86, with a high forecast of $110.00 and a low forecast of $46.00. The average price target represents an 84.99% change from the last price of $43.17.

Insider Monkey took a look at Block, Inc. (NYSE:SQ) hedge funds at the end of Q2 and found out that 66 had invested in the company with Catherine D. Wood‘s ARK Investment Management, the largest stockholder with 10.73 million shares that were worth $714.09 million.

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