On October 23, Chris Grisanti, chief market strategist and senior managing director at MAI Capital Management, joined CNBC’s ‘Power Lunch’ to discuss market outlooks and suggest that the current bull market could last for years. Grisanti said that the current market dynamic is stressful because many investors, who have large gains in just a few names, are feeling nervous. This nervousness comes from the fact that valuations are the second-highest they have been in a hundred years. This situation presents a dilemma: the market appears strong with momentum, good reasons to invest, AI capital spending, the one big beautiful bill, and good early earnings, yet high valuations persist. Grisanti proposed a three-step plan for investors, echoing the Always Be Closing mantra from the film Glengarry Glen Ross, with a rule to Always Be Invested.
One of the steps is to stay invested. The expert stressed that valuation is a terrible timing mechanism; although the market is expensive, it can remain so for years. He referenced managing money during the internet boom, noting 5 years where the market was considered very expensive, and although the boom eventually ended, investors would have lost 4 out of 5 good years by prematurely exiting. Another step is to trim your winners. He suggested that most investors likely have outsized positions in the usual suspects, like companies in the MAG7, which are great but need to be reduced back to a more normal percentage of the portfolio. The capital freed up should then be shifted toward less expensive areas, with the two favorite areas being healthcare and REITs. Additionally, Grisanti loves to buy stocks with a known bad news list because that bad news is already factored into the market and the stock price.
That being said, we’re here with a list of the 20 stocks that should double in 3 years.
Our Methodology
We sifted through financial media reports to compile a list of the top 20 stocks that should double in 3 years. We then picked the stocks that were the most popular among hedge funds and analysts. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q2 2025. The hedge fund data was sourced from Insider Monkey’s database which tracks the moves of over 1000 elite money managers.
Note: All data was sourced on October 24.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
20 Stocks That Should Double in 3 Years
20. Opendoor Technologies Inc. (NASDAQ:OPEN)
Number of Hedge Fund Holders: 21
Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the stocks that should double in 3 years. On October 20, Morgan Stanley analyst Matthew Cost raised the price target on Opendoor Technologies to $6 from $2 and kept an Equal Weight rating on the shares. This sentiment came ahead of the company’s Q3 2025 earnings report, as the firm remains positive that Opendoor will capitalize on its current momentum.
Morgan Stanley is prioritizing evidence of GPU-enabled revenue and returns to overshadow narratives and drive performance. This refers to the winner and loser narratives around Generative AI swirling ahead of Q3 earnings for the internet group.
Opendoor Technologies Inc. (NASDAQ:OPEN) operates a digital platform for residential real estate transactions in the US. It buys and sells homes.
19. Embraer (NYSE:ERJ)
Number of Hedge Fund Holders: 27
Embraer (NYSE:ERJ) is one of the stocks that should double in 3 years. On October 16, Bank of America raised the firm’s price target on Embraer to $70 from $65 and maintained a Buy rating on the shares after attending the company’s 2025 investor day. The firm noted that the company’s supply chain and production management are in focus as Embraer executes on its record backlog and new wins.
Earlier on October 15, Citi analyst Stephen Trent raised the price target on Embraer to $70 from $59 and kept a Buy rating on the shares following the investor day as well. The company’s orders over the last 18 months and its financial results have both been solid.
Embraer (NYSE:ERJ), together with its subsidiaries, designs, develops, manufactures, and sells aircraft and systems worldwide. The company operates through Commercial Aviation, Defense & Security, Executive Aviation, Services & Support, and Other segments.
18. e.l.f. Beauty Inc. (NYSE:ELF)
Number of Hedge Fund Holders: 43
e.l.f. Beauty Inc. (NYSE:ELF) is one of the stocks that should double in 3 years. On October 10, JPMorgan analyst Andrea Teixeira raised the firm’s price target on e.l.f. Beauty to $168 from $130, while keeping an Overweight rating on the shares. This announcement came as part of a Q3 2025 preview for the household, personal care, and beauty group.
Teixeira projects that most large-cap companies in this group will likely report another weak quarter. This is due to consumer demand in the US, which is still depressed, along with the decelerating trends in Western Europe. JPMorgan adds that this challenging backdrop is intensified by retailers reducing their inventory. Despite the difficult environment, the firm believes that e.l.f. Beauty can positively surprise investors.
e.l.f. Beauty Inc. (NYSE:ELF) is a beauty company that provides cosmetics and skin care products worldwide. The company offers eye, lip, face, paw, and skin care products.
17. Rocket Lab Corporation (NASDAQ:RKLB)
Number of Hedge Fund Holders: 46
Rocket Lab Corporation (NASDAQ:RKLB) is one of the stocks that should double in 3 years. On October 14, Rocket Lab Corporation executed its 15th mission of the year, which marked the first of 21 new launches contracted for Synspective, a Japanese Synthetic Aperture Radar/SAR satellite data and analytics company.
The mission, called Owl New World, was the seventh Electron launch completed for Synspective since its constellation deployment began in December 2020. Rocket Lab is scheduled to conduct a total of 27 missions for Synspective, establishing Electron as the primary launch vehicle for the constellation.
The Electron rocket is recognized in the commercial small-lift launch class for its reliability, rapid execution, and precise satellite deployment accuracy, making it favored by constellation operators globally.
Rocket Lab Corporation (NASDAQ:RKLB) is a space company that provides launch services and space systems solutions in the US, Canada, Japan, and internationally.
16. SoFi Technologies Inc. (NASDAQ:SOFI)
Number of Hedge Fund Holders: 47
SoFi Technologies Inc. (NASDAQ:SOFI) is one of the stocks that should double in 3 years. On October 24, Truist raised the price target on SoFi Technologies to $29 from $23 and maintained a Hold rating on the shares as part of a broader research note, which previewed Q3 2025 earnings in Payments and FinTech.
Q3 results are expected to be strong across the Payments and FinTech sector due to continued healthy consumer spending. However, Truist warns that the Q4 guidance for some companies may disappoint the Street. The anticipated weakness is attributed to tough year-over-year comparisons following a very strong holiday spending season in Q4 last year. Given this mixed outlook, the firm advises investors to remain highly selective when choosing stocks in the Payments and FinTech space.
SoFi Technologies Inc. (NASDAQ:SOFI) provides various financial services in the US, Latin America, Canada, and Hong Kong. It has three segments: Lending, Technology Platform, and Financial Services.
15. Celsius Holdings Inc. (NASDAQ:CELH)
Number of Hedge Fund Holders: 52
Celsius Holdings Inc. (NASDAQ:CELH) is one of the stocks that should double in 3 years. On October 24, Stifel analyst Matthew Smith raised the firm’s price target on Celsius Holdings to $74 from $70 and kept a Buy rating on the shares. This sentiment was announced as a part of the firm’s Q3 2025 food and beverage preview.
Stifel highlighted the continued momentum in the US energy drink category but noted that food-at-home volumes remain weak. Meanwhile, high investment costs and inflation are limiting earnings growth across the sector. The firm maintained its Positive weighting on energy drinks and Neutral weighting on the food group.
Celsius Holdings Inc. (NASDAQ:CELH) develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the US, North America, Europe, the Asia Pacific, and internationally.
14. Target Corporation (NYSE:TGT)
Number of Hedge Fund Holders: 54
Target Corporation (NYSE:TGT) is one of the stocks that should double in 3 years. On October 24, Mizuho Securities analyst David Bellinger maintained a Hold rating on Target without setting a price target.
Earlier on October 2, Truist lowered the firm’s price target on Target to $83 from $102 and kept a Hold rating on the shares.
Target’s sales performance has significantly deteriorated in the past quarter due to several internal errors, such as missteps in merchandising and marketing that have damaged consumer perception and the overall shopping experience. Citing proprietary card data, Truist sharply cut its Q3 2025 comparable sales forecast from down 1.3% to down 4.0%.
The firm advised that Target must urgently accelerate both its merchandise innovation and its capital investment spending to reverse this negative trend.
Target Corporation (NYSE:TGT) operates as a general merchandise retailer in the US. The company offers apparel, beauty products, food & beverage products, electronics, and other household essentials.
13. Dutch Bros Inc. (NYSE:BROS)
Number of Hedge Fund Holders: 60
Dutch Bros Inc. (NYSE:BROS) is one of the stocks that should double in 3 years. On October 24, Bank of America lowered the firm’s price target on Dutch Bros to $73 from $90, while maintaining a Buy rating on the shares. This sentiment followed a disappointing Q2 2025 earnings season that severely dampened market sentiment.
The firm noted that investor enthusiasm for restaurant stocks is now decidedly absent. The analyst at BofA grew more cautious because macroeconomic pressures are widening and now hurting spending beyond just low-income consumers. BofA believes that for stocks currently trading cheaply, the market will only reward them if they can show evidence that their earnings remain stable.
Dutch Bros Inc. (NYSE:BROS), together with its subsidiaries, operates and franchises drive-thru shops in the US. It operates through Company-Operated Shops and Franchising, and Other segments.
12. Reddit Inc. (NYSE:RDDT)
Number of Hedge Fund Holders: 74
Reddit Inc. (NYSE:RDDT) is one of the stocks that should double in 3 years. On October 15, Truist raised the firm’s price target on Reddit to $260 from $225 and maintained a Buy rating on the shares. This announcement came as the firm anticipates several key drivers that will boost the company’s performance in the near-to mid-term.
These include strong Q3 2025 results and optimistic Q4 2025 guidance, alongside several product and growth initiatives: a soon-to-be-released unified search and answers product, international expansion, new lower-funnel ad products for shopping, automation and B2B tools for advertisers, direct partnerships with publishers, and increased traffic from data licensing deals. Additionally, Truist expects Q3 results to likely hit the high end of expectations.
Reddit Inc. (NYSE:RDDT) operates a digital community in the US and internationally. The company’s platform enables users to engage in conversations, explore passions, research new hobbies, exchange goods & services, create new communities & experiences, share laughs, and find belonging.
11. Palantir Technologies Inc. (NASDAQ:PLTR)
Number of Hedge Fund Holders: 78
Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks that should double in 3 years. On October 23, Lumen Technologies Inc. (NYSE:LUMN) and Palantir Technologies announced a new multi-year partnership designed to accelerate the secure and rapid deployment of AI within businesses.
The partnership will integrate Palantir’s foundry and AI platform with Lumen’s connectivity fabric, which is a digital networking solution for bridging the gap between advanced AI capabilities and high-performance network infrastructure required for enterprise AI transformation. Bloomberg reported that Lumen has agreed to spend ~$200 million on Palantir software over a period of several years.
Palantir Technologies Inc. (NASDAQ:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the US, the UK, and internationally.
Lumen Technologies Inc. (NYSE:LUMN) is a networking company that provides integrated products and services to business and mass customers in the US and internationally
10. PayPal Holdings Inc. (NASDAQ:PYPL)
Number of Hedge Fund Holders: 89
PayPal Holdings Inc. (NASDAQ:PYPL) is one of the stocks that should double in 3 years. On October 24, Truist lowered the firm’s price target on PayPal to $65 from $68 and maintained a Sell rating on the shares. This announcement came as part of the firm’s broader research note previewing Q3 2025 earnings in Payments and FinTech.
Truist projects that the overall Q3 2025 results for the Payments and FinTech sector should be strong, largely because consumer spending has remained resilient. However, the firm is concerned that Q4 guidance for some companies may fall below Street expectations. The potential weakness is due to tough comparisons following the exceptionally strong holiday spending season seen in Q4 last year. Truist advised investors to remain selective when choosing where to allocate capital in the FinTech space.
PayPal Holdings Inc. (NASDAQ:PYPL) operates a technology platform that enables digital payments for merchants and consumers worldwide.
9. Pinterest Inc. (NYSE:PINS)
Number of Hedge Fund Holders: 93
Pinterest Inc. (NYSE:PINS) is one of the stocks that should double in 3 years. On October 24, Stifel analyst Mark Kelley kept a Buy rating and $47 price target on Pinterest. The sentiment came as part of a broader research note previewing Q3 2025 results in Digital Ads. Based on the firm’s recent advertising checks, Q3 growth generally improved over Q2, with September being the strongest month of the quarter.
However, Kelley cautions that Q4 guidance across the sector likely won’t be exciting. This is due to tough year-over-year comparisons, ongoing tariff issues, and general macroeconomic uncertainty, even though the overall digital advertising environment remains supportive.
Separately, Pinterest is noted as a strong exception. The platform continues to improve for both users and advertisers, making it a more attractive option for a growing number of advertisers, especially heading into the crucial holiday quarter.
Pinterest Inc. (NYSE:PINS) operates as a visual search and discovery platform in the US, Canada, Europe, and internationally.
8. Micron Technology Inc. (NASDAQ:MU)
Number of Hedge Fund Holders: 94
Micron Technology Inc. (NASDAQ:MU) is one of the stocks that should double in 3 years. On October 22, Micron Technology announced that it is now sampling its 192GB SOCAMM2 (small outline compression attached memory modules) to customers to broaden the adoption of low-power memory solutions within AI data centers.
The new product extends Micron’s leadership in power-efficient solutions for AI infrastructure, particularly as the data center ecosystem transforms toward more energy-efficient models. The new 192GB SOCAMM2, built with LPDDR5X, delivers 50% more capacity than Micron’s first-to-market LPDRAM SOCAMM within the same compact footprint.
The capacity increase can reduce time to first token/TTFT by over 80% in real-time inference workloads. Furthermore, the module uses Micron’s most advanced 1-gamma DRAM process technology to achieve a greater than 20% improvement in power efficiency. These power savings are substantial for full-rack AI installations, which can include 40+ terabytes of CPU-attached low-power DRAM main memory. The modular design of SOCAMM2 also improves serviceability and allows for future capacity expansion.
Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and sells memory and storage products in the US, Taiwan, Singapore, Japan, Malaysia, China, India, and internationally.
7. Tesla Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 115
Tesla Inc. (NASDAQ:TSLA) is one of the stocks that should double in 3 years. On October 24, Freedom Capital analyst Dmitriy Pozdnyakov upgraded Tesla to Hold from Sell with a price target of $406, which was raised from $338. Freedom Capital views Tesla’s Q3 2025 report as a sign that it is nearing the realization of its new segment potential.
The updated model lineup has successfully stabilized electric vehicle delivery volumes, and the firm believes that Tesla is likely to return to delivery growth. Freedom Capital Markets cited these early signs of delivery stabilization as the primary reason for their updated view.
Tesla Inc. (NASDAQ:TSLA) designs, develops, manufactures, leases, and sells EVs, and energy generation & storage systems in the US, China, and internationally.
6. MercadoLibre Inc. (NASDAQ:MELI)
Number of Hedge Fund Holders: 116
MercadoLibre Inc. (NASDAQ:MELI) is one of the stocks that should double in 3 years. On October 21, Barclays analyst Trevor Young lowered the firm’s price target on MercadoLibre to $2,800 from $3,000 and kept an Overweight rating on the shares as part of a broader Q3 2025 earnings preview. Barclays believes that the rising competitive intensity and income estimate cuts are weighing on the company.
Earlier on October 13, Susquehanna lowered the firm’s price target on MercadoLibre to $2,900 from $2,975, while keeping a Positive rating on the shares. The firm lowered its estimates as it noted that MercadoLibre is ready to be in more of an investment mode with broader free shipping, increased sales & marketing, the accelerated rollout of credit, and a number of tech initiatives.
MercadoLibre Inc. (NASDAQ:MELI) operates online commerce platforms in Brazil, Mexico, Argentina, and internationally.
5. Uber Technologies Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 152
Uber Technologies Inc. (NYSE:UBER) is one of the stocks that should double in 3 years. On October 24, Stifel raised the firm’s price target on Uber to $124 from $116 and kept a Buy rating on the shares. This decision came as part of a broader research note that previewed Q3 2025 results in the e-commerce sector. Stifel cited headlines intra-quarter related to autonomous cars pressuring the stock down a bit, but also pointed out that the Q3 results look reasonable.
Earlier on October 15, Guggenheim analyst Taylor Manley initiated coverage of Uber with a Buy rating and $140 price target. The firm is positive on the company’s industry-leading network, technology, and brand equity. The debate over autonomous vehicle adoption will continue to drive investor sentiment. Bulls will focus on the potential for market expansion, while bears will highlight the risk of disintermediation.
Uber Technologies Inc. (NYSE:UBER) develops and operates proprietary technology applications internationally. It operates through three segments: Mobility, Delivery, and Freight.
4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 187
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the stocks that should double in 3 years. On October 22, DBS analyst maintained a Buy rating on Taiwan Semiconductor Manufacturing Company with a price target of $346.00.
Earlier on October 17, Barclays analyst Simon Coles raised the firm’s price target on Taiwan Semiconductor Manufacturing Company to $355 from $330 and kept an Overweight rating on the shares.
Barclays’ sentiment came out as Taiwan Semiconductor Manufacturing Company reported strong Q3 2025 results and offered early hints that 2026 is heading for another strong year. The firm specifically highlighted that demand for the company’s chips from AI is strengthening faster than previously expected.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), together with its subsidiaries, manufactures, packages, tests, and sells ICs and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the US, and internationally.
3. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 219
Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks that should double in 3 years. On October 23, Alphabet Inc.’s Google and Anthropic PBC, which is a rapidly growing AI startup, announced a significant deal that will deepen their existing partnership. The agreement involves Google supplying Anthropic with up to 1 million of its specialized tensor processing units/TPUs, which are custom-designed chips used to accelerate ML workloads.
The arrangement is reportedly worth tens of billions of dollars and is slated for TPU deployment in 2026, bringing more than a gigawatt of capacity online relatively soon. This deal is one of the largest commitments yet in the AI hardware arms race, securing vastly more computing capacity for Anthropic.
By tapping into Google’s TPUs, Anthropic gains access to advanced chip infrastructure outside of Nvidia Corp.’s (NASDAQ:NVDA) offerings, reducing its reliance on scarce and costly GPUs. Google has already invested ~$3 billion in Anthropic, including $2 billion in 2023 and another $1 billion early this year.
Alphabet Inc. (NASDAQ:GOOGL) offers various products and platforms in the US, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America through Google Services, Google Cloud, and Other Bets segments.
2. Meta Platforms Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 260
Meta Platforms Inc. (NASDAQ:META) is one of the stocks that should double in 3 years. On October 24, Truist analyst Youssef Squali lifted the price target for Meta to $900 from $880 and reaffirmed a Buy rating. The decision was made as the firm is highly optimistic about the company’s prospects heading into its Q3 2025 earnings announcement.
Squali anticipates that results will be in line with or slightly ahead of the estimated 22% year-over-year revenue growth. This forecast is built upon two core operational drivers: sustained strong user engagement and improving monetization achieved through better ranking and recommendation algorithms across the platform.
A major factor shaping the company’s current narrative is its intense focus on accelerating AI progress. During the quarter, the company committed substantial resources to this goal through partnerships and infrastructure build-out.
Meta Platforms Inc. (NASDAQ:META) develops products that enable people to connect and share with friends & family through mobile devices, personal computers, virtual reality & mixed reality headsets, augmented reality, and wearables worldwide.
1. Amazon.com Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 335
Amazon.com Inc. (NASDAQ:AMZN) is one of the stocks that should double in 3 years. On October 24, KeyBanc resumed coverage of Amazon.com with an Overweight rating and $300 price target. KeyBanc believes that the growth in the retail business is being driven by advertising revenue, which provides a clear path for grocery to become a much larger and significant part of the business over the medium term.
The firm also argues that investors have become too pessimistic about the Cloud business, which could show improving growth heading into 2026, and has created an attractive entry point for the share. KeyBanc pointed out that Amazon’s current valuation multiple is well below historical levels.
Amazon.com Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores in North America and internationally.
While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
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