5 Best Growth Stocks to Buy According to Mark Moore’s ThornTree Capital

In this article, we discuss the 5 best growth stocks to buy according to Mark Moore’s ThornTree Capital. If you want to read our detailed analysis of the hedge fund, go directly to see the 10 Best Growth Stocks to Buy According to Mark Moore’s ThornTree Capital.

5. DocuSign, Inc. (NASDAQ:DOCU)

Number of Hedge Fund Holders: 51

DocuSign, Inc. (NASDAQ:DOCU) is an American company that allows businesses to manage electronic agreements. The company made headway with its Q2 results as it posted an EPS of $0.47, beating the estimates by $0.07. Moreover, DocuSign, Inc. (NASDAQ:DOCU) earned $511.8 million in revenues, up 49.6% from the prior-year quarter.

After hitting a low of $79 per share in March 2020, DocuSign, Inc. (NASDAQ:DOCU) is currently traded at $249.6 per share. In the past five years, the share price has surged 528.3%. As of Q3, DocuSign, Inc. (NASDAQ:DOCU) represents 2.55% of ThornTree Capital’s 13F portfolio. Following the company’s strong quarterly earnings, Evercore ISI lifted its price target on the stock to $320 in September, while keeping an Outperform rating on the shares.

As per Insider Monkey’s Q3 data, 51 hedge funds tracked by Insider Monkey held stakes in DocuSign, Inc. (NASDAQ:DOCU), down from 58 in the previous quarter. These stakes hold a consolidated value of over $4.2 billion.

Carillon Tower Advisers mentioned DocuSign, Inc. (NASDAQ:DOCU) in its Q2 2021 investor letter. Here is what the firm has to say:

“DocuSign provides electronic signature solutions. The firm reported an excellent quarter and investors have appreciated the strong growth combined with the excellent margins the company has posted. DocuSign has a long runway of growth ahead and we believe that it remains in a favorable position to continue gaining market share from traditional manual and paper-based signature solutions.”