5 Best Growth Stocks To Invest In Now

In this article, we will be taking a look at the 5 best growth stocks to invest in now. To read our detailed analysis of current stock market news, you can go directly to see the 10 Best Growth Stocks To Invest In Now.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 173

Share Price Gains Year-to-Date: 87.4%

NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It is based in Santa Clara, California.

A Buy rating and $1000 price target were maintained on NVIDIA Corporation (NASDAQ:NVDA) on March 22 by UBS analysts.

There were 173 hedge funds long NVIDIA Corporation (NASDAQ:NVDA) in the fourth quarter, with a total stake value of $33.8 billion.

Orbis Investment Management mentioned NVIDIA Corporation (NASDAQ:NVDA) in its fourth-quarter 2023 investor letter:

“Never before has following the crowd made so much money. Nor, in our estimation, so little sense. But just look at the opportunities the crowd has left for those of us willing to take a different view. We could wax lyrical about the glaring difference in value between Korean banks priced at 4 times earnings, versus Apple at 28 times, despite diverging fundamentals—Apple is increasingly at risk of bans in China, while Korean banks could double their dividends.

Or how the thick margin of safety at Intel, backed by listed stakes and real saleable assets, compares to the slim margin for error at NVIDIA Corporation (NASDAQ:NVDA), trading at 13 times next year’s projected revenue. That revenue that could be competed away over time, while Intel’s semiconductor “fabs” in the US are increasingly valuable as the east and the west drift further apart.”

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 214

Share Price Gains Year-to-Date: 9.2%

At the end of the fourth quarter, 214 hedge funds were long Alphabet Inc. (NASDAQ:GOOGL), with a total stake value of $28.8 billion.

Alphabet Inc. (NASDAQ:GOOGL) is an interactive media and services company based in Mountain View, California. It develops and sells apps and digital content in Google Play and YouTube, among more.

Wedbush analysts maintained an Outperform rating and a $175 price target on Alphabet Inc. (NASDAQ:GOOGL) on March 22.

Pershing Square Holdings said this about Alphabet Inc. (NASDAQ:GOOGL) in its fourth-quarter 2023 investor letter:

“In early 2023, we initiated an investment in Alphabet Inc. (NASDAQ:GOOG), the parent company of Google, at a highly attractive valuation during a period when apprehension about the company’s competitive positioning in AI overshadowed the high-quality nature of its business and strong growth prospects.

Since we initiated our position, the company has delivered impressive operating results. With two of the highest ROI and most resilient ad formats in Search and YouTube, Google occupies a dominant position in the secularly fast-growing digital advertising market. As the digital advertising market recovered over the course of the year, revenue growth in Google’s advertising business accelerated from 3% in Q1 2023 to 10% in Q4 2023. Moreover, the company realized significant progress on its substantial margin expansion opportunity and maintained a robust capital return program. In 2023, operating profit margins expanded by approximately 225 basis points (bps), excluding one-time severance and real estate charges, as the Cloud segment reached breakeven profitability. We expect continued cost control, automation efficiencies, and operating leverage in under-earning segments (Cloud & YouTube) to sustain margin expansion as Google invests behind AI initiatives.

The company is using its ample free cash flow to repurchase approximately 4% of its outstanding shares on an annual basis…” (Click here to read the full text)

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 242

Share Price Gains Year-to-Date: 41.6%

Meta Platforms, Inc. (NASDAQ:META) operates social media platforms and offers augmented reality products, among more. It is based in Menlo Park, California.

We saw 242 hedge funds long Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, with a total stake value of $44.2 billion.

As of March 18, Roth MKM analysts hold a Buy rating and a $500 price target on Meta Platforms, Inc. (NASDAQ:META).

Ruane, Cunniff & Goldfarb mentioned Meta Platforms, Inc. (NASDAQ:META) in its fourth-quarter 2023 investor letter:

“Two additional trims, in Meta Platforms, Inc. (NASDAQ:META) and Carmax, were more substantive in nature. When Meta’s stock declined in 2022, we judged it to be significantly mispriced and held our ground through the bottom. We trimmed the position serially last year as the stock soared because we were wary of holding a large position exposed to significant regulatory risks, particularly in Europe. We are comfortable owning Meta at today’s much-reduced weighting and current valuation. The smaller position size reflects our updated assessment of the balance of long-term risk versus reward.”

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 293

Share Price Gains Year-to-Date: 19.9%

An Outperform rating and a $200 price target were held on Amazon.com, Inc. (NASDAQ:AMZN) on March 27 by Telsey Advisory Group analysts.

Amazon.com, Inc. (NASDAQ:AMZN) was spotted in the portfolios of 293 hedge funds in the fourth quarter, with a total stake value of $50.9 billion.

Based in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) is a broad-line retail company. It is engaged in the e-commerce business.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 302

Share Price Gains Year-to-Date: 13.6%

Our hedge fund data for the fourth quarter shows 302 hedge funds long Microsoft Corporation (NASDAQ:MSFT), with a total stake value of $87.3 billion.

Microsoft Corporation (NASDAQ:MSFT) is a systems software company. It is based in Redmond, Washington.

Wedbush analysts hold an Outperform rating and a $500 price target on Microsoft Corporation (NASDAQ:MSFT) as of March 26.

Should you invest $1,000 in Microsoft right now?

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See also 15 Best Stocks For Long Term Growth and 18 High Growth Low PE Stocks.