5 Best Growth Stocks to Buy and Hold for Several Years

4. Intuit Inc. ( NASDAQ: INTU)

Number of Hedge Fund Holders: 53

Intuit Inc. ( NASDAQ: INTU) is one of the best growth stocks in the SaaS space as it’s behind some of the most popular Cloud-based finance software like TurboTax, Mint and QuickBooks. Intuit stock has gained 27% year to date.

The company’s revenue in fiscal Q3 jumped 40%. For the fourth quarter, the company expects a revenue in between $2.29 billion – 2.33 billion, well above the consensus of $1.85 billion.

In addition to long-term stock price appreciation, the company also offers a 0.50% dividend yield.

Fisher Asset Management currently owns 1.3 million shares of ISRG, worth $941.96 million. ISRG occupies 0.66% of Fisher’s overall equity.

Ensemble Capital, in their Q1 2021 investor letter, mentioned Intuit Inc. ( NASDAQ: INTU). Here is what the fund said:

“Notable detractors to the Fund’s returns this quarter (included) Intuitive Surgical. Intuitive Surgical’s (6.3% weight in the Fund) growth slowed in 2020 as COVID hit the brakes on many elective surgeries. Given continued COVID-related risks in the US and Europe in 2021, it’s still unclear as to when elective surgeries recover to more normal levels. As such, hospitals may be holding off on planned surgical robot investments until demand rebounds. That said, in Asia, where COVID has been well contained, Intuitive Surgical’s procedures and systems utilizations improved, which bodes well for recovery in the US and EU. Most procedures can’t be delayed indefinitely or canceled, so we continue to expect a resumption of strong, durable growth as the pandemic recedes.”