What are the 5 Best Stocks to Buy Right Now?

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1. Facebook, Inc. (NASDAQ: FB)

Number of Hedge Fund Holders: 257   

Facebook, Inc. (NASDAQ: FB) is ranked first on our list of 10 best stocks to buy right now. The company’s shares have offered investors returns exceeding 40% over the course of the past twelve months. The company owns and runs some of the most popular social media platforms like Facebook, with over $2.8 billion monthly active users, and Instagram and WhatsApp, with a combined user base of more than 3 billion. It also has stakes in other technology-related businesses. The company recently posted earnings for the second quarter, reporting a revenue of $29 billion, up 55% year-on-year and beating estimates by over $1 billion. 

On July 29, investment advisory Evercore maintained an Outperform rating on Facebook, Inc. (NASDAQ: FB) stock and raised the price target to $450 from $400, highlighting the second quarter earnings beat of the firm and growth catalysts ahead. 

At the end of the first quarter of 2021, 257 hedge funds in the database of Insider Monkey held stakes worth $40 billion in Facebook, Inc. (NASDAQ: FB), up from 242 in the preceding quarter worth $38 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Facebook, Inc. (NASDAQ: FB) was one of them. Here is what the fund said:

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.” 

You can also take a peek at 10 Best Up and Coming Stocks to Invest In and 15 Stocks that Will Double In 2021.

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