Buy Alert 2 Blockchain Stocks Rated Strong Buy for July 2024
Blockchain technology is swiftly revolutionizing industries well beyond the realm of cryptocurrencies, presenting unmatched transparency, security, and efficiency. This groundbreaking innovation has propelled blockchain stocks—equity in companies that pioneer or incorporate blockchain technology—into the spotlight for astute investors.
Numerous companies are harnessing blockchain to elevate their operating standards, deliver state-of-the-art services, or lead the charge in the cryptocurrency arena. While some businesses are solely dedicated to advancing blockchain and cryptocurrency, others integrate blockchain to fortify their existing successful ventures.
Recognizing this dynamic potential, Finbold has identified two standout stocks with strong buy ratings, poised to bring substantial value to any investment portfolio through their exposure to distributed ledger technologies.
Mastercard Incorporated (NYSE: MA) Stock:
Mastercard Incorporated (NYSE: MA) has earned a coveted spot on Forbes’ 2023 Blockchain 50 list, underscoring its proactive adoption of distributed ledger technology. The company has been actively exploring and embracing blockchain technology through several pivotal initiatives. Notably, the Mastercard Multi-Token Network (MTN), launched in 2023, stands as a blockchain-based platform designed to enhance the security, scalability, and interoperability of transactions within digital asset and blockchain ecosystems.
Furthermore, Mastercard is deeply involved in trials and discussions pertaining to Central Bank Digital Currencies (CBDCs), lending its expertise and guidance to governments navigating CBDC implementation, as officially announced by the company. Additionally, the company spearheads the Start Path Crypto Program, aimed at nurturing innovation by supporting startups in the blockchain and digital asset space, assisting them in scaling their businesses while prioritizing solutions that are energy-efficient and promote a positive social impact.
As for financials, Mastercard boasts a market cap of $406.96 billion and has showcased robust financial health, with $25.7 billion in revenue over the past year and earnings of $11.85 per share. With a dividend of $2.64 per share and a remarkable growth rate of 15.91% year-over-year, the stock is appealing to both growth and income-focused investors. Analysts express high confidence, noting a consensus price target of $524.50, reflecting an impressive 18.89% upside from the current price of $441.16. Ultimately, Mastercard’s strategic acquisitions, strong cash flow, and ongoing innovation position it favorably for sustained growth, rendering it an enticing investment option.
Riot Blockchain, Inc. (NASDAQ: RIOT) Stock:
Riot Blockchain (NASDAQ: RIOT) has solidified its position as a prominent player in the Bitcoin mining sector, continually expanding its capabilities to capitalize on blockchain technology’s potential. A recent deal to procure 31,500 next-generation miners from MicroBT is set to elevate Riot’s self-mining hash rate from 12.4 EH/s to 15.1 EH/s by the end of July. Additionally, Riot’s Corsicana Facility has emerged as the world’s largest Bitcoin mining site, boasting a developed capacity of 1 GW, further amplifying its mining prowess, as formally announced by the company.
Financially, Riot has exhibited strong performance, reporting $79.3 million in revenue, up from $73.2 million the previous year, and achieving a net income of $211.8 million, or $0.82 per share, driven by a 131% surge in Bitcoin (BTC) prices.
Analysts hold a highly optimistic outlook for Riot’s future, with an average price target of $18, signifying a substantial 96.94% increase from the current price of $9.14. With Riot’s bold expansion and investments in advanced technology, the stock presents an appealing option for investors aiming to capitalize on the growth of blockchain technology.
Mastercard and Riot Blockchain stand at the forefront of blockchain innovation in their respective sectors, presenting compelling investment opportunities for July 2024. Mastercard’s integration of blockchain into financial services, coupled with its robust financial performance and strategic initiatives, establishes it as a dependable long-term investment.
Riot Blockchain’s expanding mining operations, robust financial metrics, and substantial growth potential underscore its value as a high-growth investment. These stocks are well-positioned to leverage the transformative power of blockchain, offering investors the potential for substantial returns.
However, investors are advised to exercise caution and conduct comprehensive research given the inherent volatility and risks associated with stock markets.
Disclaimer: The information provided should not be construed as investment advice. Investing entails speculative risks, and capital is at risk when making investment decisions.