Although Meta Platforms Inc. (NASDAQ:FB) may be the most obvious choice to go for when targeting metaverse stocks, there are more interesting options that could get investors excited.
Autodesk Inc. (NASDAQ:ADSK) is one of the leading design software providers. And with the gaming industry shifting towards blockchain games, the metaverse could be an exciting opportunity for the company.
Analysts are optimistic about its growth prospects, forecasting an EPS increase of 440% this year and an average annual increase of 28.84% over the next five years.
Technically, Autodesk shares seem to be trading within an ascending channel formation in the intraday chart. As a result, the stock recently bounced off the trendline support, creating an opportunity to buy.
Investors could target extended gains at about $293.79, or higher at $313.75, while $269.96 and $252.69 are crucial support zones.
Fastly Inc. (NYSE:FSLY) is an Infrastructure-as-a-Service company in the edge computing space. Its services are ideal for alleviating latency and data lag in cloud computing and decentralised ecosystems.
Therefore, with more technology companies joining the blockchain space, they will be seeking Fastly’s services to speed up transaction processes. Analysts expect its EPS to increase at an average annual rate of 30% over the next five years.
Technically, Fastly shares seem to be trading within a descending channel formation in the intraday chart. However, the stock recently bounced off the trendline support to create an exciting opportunity for a channel breakout.
Therefore, investors could target profits at about $43.17, or higher at $46.19, while $38.22 and $35.08 are crucial support levels.
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