Blockchain
2 Blockchain Stocks With Strong Buy Rating For July 2024
Blockchain Technology is rapidly transforming sectors far beyond cryptocurrenciesoffering unparalleled transparency, security and efficiency. This innovation has made blockchain actions—shares of companies that develop or integrate blockchain technology—very interesting for experienced investors.
Numerous companies are leveraging blockchain to improve their operations, provide cutting-edge services, or drive advancements in cryptocurrency sectorWhile some companies are fully dedicated to blockchain and cryptocurrency innovation, others are integrating blockchain to strengthen their existing and successful businesses.
Recognizing this dynamic potential, Finbold has identified two extraordinary projects actions with strong buy ratings, promising to add significant value to any investment portfolio through exposure to distributed ledger technologies
Mastercard Incorporated (NYSE: MA) stock.
Mastercard Incorporated (NYSE: BUT) Its innovative approach to blockchain earned it a spot on Forbes’ 2023 Blockchain 50 list, underscoring its aggressive pursuit of distributed ledger technology.
Mastercard has been actively involved in the exploration and adoption of blockchain technology through several key initiatives. The Mastercard multi-token network (MTN), Launched in 2023is a blockchain-based platform designed to make transactions within digital asset and blockchain ecosystems more secure, scalable, and interoperable.
Additionally, Mastercard is actively involved in experiments and discussions regarding central bank digital currencies (CBDC), offering expertise and guidance to governments exploring CBDC implementation, such as announced from the company.
THE agency also manages the Start Path Crypto program, which fosters innovation by supporting startups in the blockchain and digital asset space, helping them scale their businesses by prioritizing energy-efficient solutions that drive positive social impact.
12-month price target for MA stock on Wall Street. Source: TipRanks
Mastercard boasts a market capitalization of $406.96 billion and has proven to be solid financial health, generating revenue of $25.7 billion over the past year and earning $11.85 a share.
The company offers a dividend of $2.64 per share with an impressive growth rate of 15.91% per year, making it attractive to both growth and income-oriented investors.
Analyst confidence is high, with a consensus price target of $524.50, representing an upside of 18.89% from the current price of $441.16. Mastercard’s strategic acquisitions, strong cash flow, and continued innovation position it well for sustained growth, making it an attractive buy.
Riot Blockchain, Inc. (NASDAQ: RIOT) Stock
Riot Blockchain (NASDAQ: RIOT) is a major player in the Bitcoin Mining industry, continually expanding its capabilities to capitalize on the potential of blockchain technology. Riot recently signed an agreement for purchase 31,500 next-generation miners from MicroBT, increasing its auto-mining hash rate from 12.4 EH/s to 15.1 EH/s by the end of July.
Additionally, Riot’s Corsicana Facility, now the largest Bitcoin mining site in the world with a developed capacity of 1 GW, further enhances its mining capacity as announced from the company.
Financially, Riot performed very well, posting revenue of $79.3 million, up from $73.2 million last year, and net income of $211.8 million, or $0.82 per share, driven by a 131% increase in Bitcoin (BTC) prices.
Analysts are very bullish on Riot’s future, with an average price target of $18, indicating a substantial upside of 96.94% from the current price of $9.14. Riot’s aggressive expansion and investment in advanced technology make it an attractive option for investors looking to capitalize on the growth of blockchain technology.
Mastercard and Riot Blockchain are at the forefront of blockchain innovation in their respective industries, making them attractive investment opportunities for July 2024. Mastercard’s integration of blockchain into financial services, combined with its strong financial performance and initiatives strategic strategies, positions it as a reliable long-term investment.
Riot Blockchain’s expanding mining operations, strong financial metrics, and significant growth potential highlight its value as a high-growth investment. These stocks are well positioned to harness the transformative power of blockchain, offering investors opportunities for substantial returns.
However, investors should remain cautious and conduct thorough research due to the volatility and inherent risks of stock markets
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.