5 Best Economic Recovery Stocks to Buy

In this piece, we will take a look at the five best economic recovery stocks to buy. If you want to take a look at factors driving the stock market and more stocks, check out 10 Best Economic Recovery Stocks to Buy.

5. Alteryx, Inc. (NYSE:AYX)

Number of Hedge Funds In Q1 2023: 42

Alteryx, Inc. (NYSE:AYX) is a software company that provides data analytics and collection products. Bank of America started off July 2023 on a good note for the firm, when it upgraded its shares to Buy from Neutral. It expanded its software portfolio in June, by adding compatibility for data sharing with Snowflake.

42 of the 943 hedge funds part of Insider Monkey’s database had owned Alteryx, Inc. (NYSE:AYX)’s during Q1 2023. The firm’s largest hedge fund shareholder is Brian Bares’ Bares Capital Management through its $125 million investment.

4. Natera, Inc. (NASDAQ:NTRA)

Number of Hedge Funds In Q1 2023: 47

Natera, Inc. (NASDAQ:NTRA) is a healthcare company that develops diagnostic products for childbearing mothers. It’s one of the hottest stocks on our list, with an average share rating of Strong Buy and an average share price target of $73.79.

Insider Monkey dug through 943 hedge funds for their first quarter of 2023 investments to discover that 47 had held a stake in the firm. Natera, Inc. (NASDAQ:NTRA)’s biggest shareholder in our database is Derrick Tang’s Kynam Capital owning a $192 million stake courtesy of 2.9 million shares.

3. Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Number of Hedge Funds In Q1 2023: 57

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is a biotechnology company that develops a variety of treatments for diseases such as muscular dystrophy and genetic mutations. Its average share price target has a $65 upside, and the average rating is Strong Buy.

As of March 2023, 57 of the 943 hedge funds part of Insider Monkey’s database had invested in Sarepta Therapeutics, Inc. (NASDAQ:SRPT). Kurt Von Emster’s VenBio Select Advisor is the largest investor with a $503 million stake.

2. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Funds In Q1 2023: 62

PDD Holdings Inc. (NASDAQ:PDD) is an electronic commerce company that enables merchants to sell their products to general consumers. A whopping 20 out of 48 analysts had rated the shares as Strong Buy in June, and 25 more had rated them as Buy.

By the end of 2023’s first quarter, 62 out of the 943 hedge funds profiled by Insider Monkey had held the firm’s shares. Among these, Lei Zhang’s Hillhouse Capital Management is PDD Holdings Inc. (NASDAQ:PDD)’s biggest investor through an investment of $807 million.

1. Sea Limited (NYSE:SE)

Number of Hedge Funds In Q1 2023: 65

Sea Limited (NYSE:SE) is a diversified technology company that provides financial services, electronic commerce, and other offerings. It has an average share price target of $94, but the firm’s latest quarter saw it miss analyst estimates. However, these came after a quarter where it had smashed them out of the park.

65 of the 943 hedge funds had owned Sea Limited (NYSE:SE)’s shares during this year’s March quarter. The firm’s largest shareholder is Jay Chen’s Himension Capital through its $406 million stake.

Disclosure: None. You can also take a look at 10 Momentum Stocks Billionaires Are Loading Up On and 11 Most Undervalued Foreign Stocks To Buy.

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