Growth stocks, valued based on future earnings forecasts, have enjoyed a fantastic run in recent months. The Russell 1000 Growth ETF returned more than 38 percent in 2020, greatly exceeding the Russell 1000 Value Fund’s 2.7 percent return. For the first time since 2001, the Russell 1000 Value ETF outperformed the Russell 1000 Growth ETF. Hedge funds recommend Amazon.com, Facebook, Uber Technologies, and Instacap Holdings, Inc. as some of the greatest growth stocks to buy.
Here is Insider Monkey’s list of the 11 best growth stocks to buy according to hedge funds. Global Payments Inc. came in eleventh. The firm specializes in payment technologies and software. The stock’s Outperform rating was maintained by BMO Capital, which boosted the price objective to $217 from $206. Hedge funds put Thermo Fisher Scientific Inc. tenth on the list of the 11 best growth stocks to buy. The company works in the field of life sciences instruments and services. TMO’s price target was lifted to $655 from $560 by Cowen, who kept an Outperform rating on the stock. Square, Inc. is ranked ninth among hedge funds’ top 11 growth stocks to purchase. The company is based in California and sells payment solutions. Square, Inc.’s stock has been upgraded to an Outperform rating by Evercore ISI, with a $371 price objective. Sea Limited is a technology company established in Singapore with interests in e-commerce, entertainment, and fintech. According to hedge funds on the list of 11 best growth stocks, it is the eighth best growth stock to purchase. Sea Limited’s shares was upgraded from Hold to Buy by Stifel, with a $400 price objective. Hedge funds ranked Salesforce.com, Inc. sixth on their list of the 11 greatest growth stocks to purchase. The business offers cloud computing solutions for businesses. RBC Capital kept its Outperform rating and increased its price objective from $310 to $325. For more details, click 11 Best Growth Stocks To Buy According To Hedge Funds.
