Buy Recommendation 2 Blockchain Stocks Rated Strong Buy for July 2024
Blockchain technology is rapidly reshaping various industries beyond cryptocurrencies, offering unmatched transparency, security, and efficiency. This transformative innovation has catapulted blockchain stocks—equities of firms pioneering or integrating blockchain technology—into the spotlight for discerning investors.
Numerous companies harness blockchain to elevate their operations, deliver cutting-edge services, or lead advancements in the cryptocurrency domain. While some focus exclusively on blockchain and crypto innovation, others integrate blockchain to fortify their established enterprises.
Recognizing this dynamic potential, Finbold has identified two standout stocks with robust buy ratings, poised to significantly enhance any investment portfolio through exposure to distributed ledger technologies.
### Mastercard Incorporated (NYSE: MA) Stock
Mastercard Incorporated (NYSE: MA) has earned accolades on Forbes’ 2023 Blockchain 50 list for its innovative strides in blockchain technology. The company has actively embraced blockchain through several strategic initiatives. Notably, the Mastercard Multi-Token Network (MTN), launched in 2023, enhances security, scalability, and interoperability within digital asset and blockchain ecosystems.
Mastercard also plays a pivotal role in trials and discussions surrounding Central Bank Digital Currencies (CBDCs), providing expertise and guidance to governments exploring CBDC implementation. Additionally, the Start Path Crypto Program fosters blockchain and digital asset startups, emphasizing energy efficiency and positive social impact solutions.
With a market cap of $406.96 billion, Mastercard exhibits robust financial health, generating $25.7 billion in revenue over the past year and earnings of $11.85 per share. The company offers a dividend of $2.64 per share with a notable 15.91% year-over-year growth rate, appealing to both growth and income-oriented investors.
Analysts project a consensus price target of $524.50, suggesting an 18.89% potential upside from the current $441.16 price. Mastercard’s strategic acquisitions, strong cash flow, and continuous innovation position it favorably for sustained growth, making it a compelling investment choice.
### Riot Blockchain, Inc. (NASDAQ: RIOT) Stock
Riot Blockchain (NASDAQ: RIOT) is a key player in Bitcoin mining, expanding its capabilities to harness blockchain’s potential. Recently, Riot secured a deal to acquire 31,500 next-generation miners from MicroBT, increasing its self-mining hash rate from 12.4 EH/s to 15.1 EH/s by July’s end. Furthermore, Riot’s Corsicana Facility, now the world’s largest Bitcoin mining site with a 1 GW capacity, further enhances its mining prowess.
Financially robust, Riot reported $79.3 million in revenue, up from $73.2 million the previous year, with a net income of $211.8 million, or $0.82 per share, driven by a 131% rise in Bitcoin prices.
Analysts foresee promising growth for Riot, with an average price target of $18, implying a substantial 96.94% increase from the current $9.14 price. Riot’s aggressive expansion and investment in advanced mining technologies make it an attractive option for investors eyeing blockchain’s growth potential.
### Conclusion
Mastercard and Riot Blockchain lead the charge in blockchain innovation within their respective sectors, presenting compelling investment opportunities for July 2024. Mastercard’s integration of blockchain in financial services, coupled with its strong financial performance and strategic initiatives, positions it as a dependable long-term investment.
Meanwhile, Riot Blockchain’s expanding mining operations, robust financial metrics, and significant growth potential underscore its appeal as a high-growth investment. These stocks are well-positioned to harness blockchain’s transformative potential, offering investors avenues for substantial returns.
However, prudent investors should conduct thorough research and exercise caution, given the inherent volatility and risks associated with stock market investments.
**Disclaimer:** The content provided here should not be construed as investment advice. Investing carries inherent risks, and capital is at risk when investing.
