5 Best Cheap Growth Stocks To Buy Now

3. NVIDIA Corporation (NASDAQ:NVDA)

 Number of hedge fund holders: 84

NVIDIA Corporation (NASDAQ:NVDA) offers solutions for graphics, computing, and networking. Given the demand for GPUs, the company’s earnings are expected to grow by an average annual rate of 23.4% over the next 5 years. In the Q2 2022, the company also reported $6.70 billion in revenue and reported normalized EPS of $0.51.

In September, analyst Ambrish Srivastava of BMO Capital decreased the firm’s price target from $230 to $210 while maintaining an Outperform rating on the stock. Analysts have an average price target of $196.99.

Ken Griffin’s Citadel Investment Group is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor. It owns 17.17 million shares that are worth $2.68 billion. At the end of the second quarter of 2022, 84 hedge funds in the database of Insider Monkey held stakes worth $3.31 billion in NVIDIA Corporation (NASDAQ:NVDA).