5 Best Growth Stocks for 2022

Page 1 of 5

In this article, we discuss the 5 best growth stocks for 2022. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Growth Stocks for 2022.

5. Sprout Social, Inc. (NASDAQ:SPT)

Number of Hedge Fund Holders: 29    

Sprout Social, Inc. (NASDAQ:SPT) makes and sells web-based social media management tools. The company recently announced that it would be bringing social messaging app WhatsApp into the Sprout product suite. This will enable the firm to offer personalized customer service to enterprise clients. WhatsApp has over 2.5 billion active users globally. 

Needham analyst Scott Berg recently raised the price target on Sprout Social, Inc. (NASDAQ:SPT) stock to $160 from $110 and kept a Buy rating on the shares, noting that there was confidence in the ability of the firm to deliver 30%+ revenue growth for the coming years. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Zevenbergen Capital Investments is a leading shareholder in Sprout Social, Inc. (NASDAQ:SPT) with 1.2 million shares worth more than $153 million. 

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Sprout Social, Inc. (NASDAQ:SPT) was one of them. Here is what the fund said:

“Sprout Social (is one of the) companies that have become go-to platforms for small and medium size businesses (SMBs) engaged in e-commerce and social media marketing, rebounded strongly in the quarter after being caught in the selloff among high-multiple growth names since Vaccine Monday. These and the portfolio’s other disruptors had thrived through the first part of the pandemic, leading us to trim positions into strength and reallocate cash into more attractively priced evolving opportunities and steady compounders that had been overly punished by lockdowns and a drop in economic activity.”

Page 1 of 5