In September, the measure of new orders in the services industry increased to 63.5, up from 63.2 in August. In September, the non-manufacturing activity index rose to 61.9 from 61.7 in August, indicating expanding the services sector. Even after global immunization programs, inflation fears have plagued the progress of an economic recovery. The services sector accounts for more than two-thirds of all economic activity in the United States. Investors who want to take advantage of this should look at hedge funds’ best stock picks at the conclusion of the second quarter of 2021.
Here is Insider Monkey’s list of the 10 growth stock picks by hedge funds. Biogen Inc. is ranked tenth among hedge funds’ top ten growth stock ideas. The firm works on medicines to treat neurological and neurodegenerative illnesses. Biogen was added to Needham’s coverage with a Buy rating and a $400 price target. PANW is ranked ninth. The company is based in California and offers cybersecurity solutions. Palo Alto Networks, Inc.’s stock has a Buy rating from Deutsche Bank, with a price objective of $560 up from $515. Workday, Inc. is a cloud-based enterprise software company based in California. It is ranked eighth among hedge funds’ top ten growth stock picks. Needham kept its Buy recommendation and increased the price objective to $310 from $290. MercadoLibre, Inc. is ranked seventh among hedge funds’ top 10 growth stock recommendations. The company is based in Argentina and runs an internet commerce platform. BTIG, an investment advisory firm, maintained a Buy rating with a $1,930 price objective on August 5. JD.com is ranked sixth among hedge funds’ top ten growth stock choices. In China, the company owns and manages an ecommerce platform. JD.com, Inc. stock received a Buy rating from Stifel, with a price objective of $100 up from $90. For more details, click 10 Growth Stock Picks By Hedge Funds.
