5 Best Fast Growth Stocks to Buy Now

Below we present the list of the 5 Best Fast Growth Stocks to Buy Now. For our methodology and a more comprehensive list please see the 10 Best Fast Growth Stocks to Buy Now.

5. Lululemon Athletica inc. (NASDAQ:LULU)

Number of Hedge Fund Shareholders: 50

Fitness apparel company Lululemon Athletica inc. (NASDAQ:LULU) is back on a roll. After a somewhat tepid fiscal 2020 during which EPS declined year-over-year and sales rose by just over 10%, the company followed that up with a big fiscal 2021, growing sales by nearly $2 billion and EPS by 66% to $3.00. Against those tougher comps this year, the company is continuing to excel. In its fiscal Q3 ended July 31, sales jumped by 23% year-over-year, while EPS shot up by 42%.

Nor does Lululemon Athletica inc. (NASDAQ:LULU) expect the gravy train to run dry anytime soon. The company is forecasting another 23% to 24% sales jump year-over-year in Q4 and envisions growing sales to $12.5 billion during its fiscal 2026, close to double what it pulled in during its FY21. With the vast majority of its sales coming from North America, there is untapped expansion opportunities overseas, which should help facilitate that growth.

There’s been growing hedge fund ownership of Lululemon Athletica inc. (NASDAQ:LULU) for three straight quarters, including a 16% jump during Q2. James Parsons’ Junto Capital Management and Steven Boyd’s Armistice Capital added LULU to their 13F portfolios during the quarter.