5 Best Blockchain Stocks to Buy Now, According to Analysts – February 2024
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5 Best Blockchain Stocks to Buy Now, According to Analysts – February 2024

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Investors looking for strong returns can consider investing in the growing blockchain industry. In this article, we have highlighted five such stocks that are currently loved by analysts.

Blockchain stocks have become increasingly popular as the industry is still in its early stages, thus offering the potential for significant growth. Blockchain companies offer an advanced database mechanism that facilitates transparent information sharing within a business network. However, investment in these stocks comes with certain challenges related to volatility and regulatory factors.

To help identify the best blockchain stocks for your portfolio, we have leveraged the TipRanks’ Stock Screener tool. These stocks have received a Strong Buy rating from analysts. Further, the average analysts’ price targets reflect a solid upside potential of more than 10%.

Here are five such stocks for investors to consider.

  • Block (NYSE:SQ) – Block is a financial services and digital payments company. SQ’s average price target implies an upside potential of 13.9%. Following the release of Q4 earnings on February 22, 18 analysts assigned a Buy rating to the stock.  
  • Bitfarms (NASDAQ:BITF) – Bitfarms is a leading blockchain infrastructure company focused on mining cryptocurrencies sustainably and at scale. BITF stock’s price forecast of $3.88 implies 28.5% upside potential.
  • Cipher Mining (NASDAQ:CIFR) – This cryptocurrency mining company is focused on sustainable and efficient operations to secure and maintain blockchain networks. CIFR stock’s average price target implies an upside potential of 108.9%.
  • Applied Digital (NASDAQ:APLD) – APLD is a technology company known for innovations like VeriChip, a human-implantable microchip for identification and access control. The stock has an average price target of $13.67, which implies a 238% upside potential from current levels.
  • Riot Platforms (NASDAQ:RIOT) – Riot Blockchain is a cryptocurrency mining company focused on Bitcoin mining operations. Based on the average price target, RIOT stock has an upside potential of 20.5%. Last week, two analysts rated the stock a Buy.



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