JPMorgan’s Top 5 Stock Picks for 2023

In this piece, we will take a look at JPMorgan’s top five stock picks for 2023. For more top stock picks, head on over to JPMorgan’s Top 15 Stock Picks for 2023.

5. ChargePoint Holdings, Inc. (NYSE:CHPT)

Year to Date Share Price Growth as of February 8, 2023: 40.07%

Number of Hedge Fund Holders In Q3 2022: 13

ChargePoint Holdings, Inc. (NYSE:CHPT) is an electric vehicle charging equipment provider that provides its products and services all over the globe. The firm is headquartered in Campbell, California.

ChargePoint Holdings, Inc. (NYSE:CHPT) made a big announcement in January 2023 when it revealed that it has entered into an agreement with Mercedes-Benz to develop a 400 hub strong charging network in the U.S. and Canada. 13 of the 920 hedge fund portfolios analyzed by Insider Monkey in Q3 2022 consisted of a stake in the firm.

4. Wizz Air Holdings Plc (LON:WIZZ.L)

Year to Date Share Price Growth as of February 8, 2023: 50.63%

Number of Hedge Fund Holders In Q3 2022: N/A

Wizz Air Holdings Plc (LON:WIZZ.L) is a British passenger airliner based in Saint Helier, Jersey, the Channel Islands. The firm conducts flights in Europe and the Middle East, and it has more than a hundred aircraft in its fleet.

Since its a budget carrier, Wizz Air Holdings Plc (LON:WIZZ.L) responded to the recent inflationary wave and dour economic sentiment by closing its oldest route between Ohrid, Macedonia and London after running it for eight years in February 2023.

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

Year to Date Share Price Growth as of February 8, 2023: 50.72%

Number of Hedge Fund Holders In Q3 2022: 177

Meta Platforms, Inc. (NASDAQ:META) is one of the world’s largest social media companies. The firm owns Facebook, Instagram, and WhatsApp, and is based in Menlo Park, California.

Meta Platforms, Inc. (NASDAQ:META) has been the darling of investors lately, as its chief Mark Zuckerberg shifted gears in February 2023 and announced that the firm will now focus on cost efficiency as opposed to pumping billions into projects. By the end of 2022’s third quarter, 177 of the 920 hedge funds part of Insider Monkey’s survey had invested in the company.

Meta Platforms, Inc. (NASDAQ:META)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 11.8 million shares that are worth $1.6 billion.

2. Spotify Technology S.A. (NYSE:SPOT)

Year to Date Share Price Growth as of February 8, 2023: 52.05%

Number of Hedge Fund Holders In Q3 2022: 57

Spotify Technology S.A. (NYSE:SPOT) is a software company that operates an audio streaming platform. This allows users to listen to music and podcasts alongside other programs.

Spotify Technology S.A. (NYSE:SPOT) is currently facing demands from artists such as Drake to pay them ‘bonuses’ if they end up beating record views for their content. Insider Monkey took a look at 920 hedge fund holdings for last year’s September quarter to discover that 57 had bought Spotify Technology S.A. (NYSE:SPOT)’s shares.

Out of these, Catherine D. Woods’ ARK Investment Management is Spotify Technology S.A. (NYSE:SPOT)’s largest investor. It owns 800,291 shares that are worth $69 million.

1. Peloton Interactive, Inc. (NASDAQ:PTON)

Year to Date Share Price Growth as of February 8, 2023: 91.75%

Number of Hedge Fund Holders In Q3 2022: 45

Peloton Interactive, Inc. (NASDAQ:PTON) is an American health and fitness company that is headquartered in New York. It provides a collaboration platform that enables people to exercise with each other and equipment such as exercise bikes.

The darling of Wall Street during the coronavirus pandemic, Peloton Interactive, Inc. (NASDAQ:PTON) saw its share price tank in 2022 as reopening and inflation hammered its business. However, this year, it’s back up by 91.75% and according to JPMorgan, it cash flows are improving and subscribers are growing as Peloton Interactive, Inc. (NASDAQ:PTON) takes the right step toward revenue growth. The bank increased the company’s share price target to $19 from $13 in February 2022 and kept an Overweight rating on the shares. In Q3 2022, 45 of the 920 hedge funds polled by Insider Monkey had invested in the company.

Peloton Interactive, Inc. (NASDAQ:PTON)’s largest hedge fund investor is Anand Desai’s Darsana Capital Partners which owns ten million shares that are worth $69 million.

Disclosure: None. You can also take a peek at 14 Small Cap Stocks with Huge Potential and 10 Best February Dividend Stocks To Buy.

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