5 Best Stocks To Buy According To Josh Resnick’s Jericho Capital Asset Management

In this article, we will be discussing the 5 best stocks to buy according to Josh Resnick’s Jericho Capital Asset Management. If you want to see our detailed analysis of Resnick’s history, investment philosophy, and hedge fund performance, go directly to the 10 Best Stocks To Buy According To Josh Resnick’s Jericho Capital Asset Management.

5. Twilio Inc. (NYSE:TWLO)

Jericho Capital Asset Management’s Stake Value: $213.8 million
Percentage of Jericho Capital Asset Management’s 13F Portfolio: 5.06%
Number of Hedge Fund Holders: 98

Twilio Inc. (NYSE:TWLO) is a California-based cloud communications platform as a service company that allows software developers to make communications functions using its web service APIs.

Jericho Capital Asset Management currently holds 542,649 shares of Twilio Inc. (NYSE:TWLO), amounting to more than $213.8 million in worth and representing 5.06% of the fund’s total portfolio value. Of the 873 elite funds being tracked by Insider Monkey, 98 held stakes in Twilio Inc. (NYSE:TWLO) at the end of the second quarter of 2021, compared to 99 funds in the preceding quarter.

Out of the hedge funds being tracked by Insider Monkey, Catherine Wood’s ARK Investment Management is the leading shareholder in Twilio Inc. (NYSE:TWLO), with over 3.72 million shares worth more than $1.46 billion.

On November 1, Summit Insights analyst Srini Nandury reiterated a Buy rating on Twilio Inc. (NYSE:TWLO) with a $450 price target following the company’s Q3 results.

Lakehouse Capital, in its Q2 2021 investor letter, mentioned Twilio Inc. (NYSE:TWLO). Here is what the fund said:

“The Fund held 20 positions as of the end of June and exited four during the year (including) Twilio. The companies we exited were sold almost entirely on the basis of their valuations getting stretched well past their norms and to levels where the return profile no longer offered the asymmetric upside that led us to invest in the first place. We dislike selling on valuation as great growth companies are hard to find and letting winners run is an important facet of a winning growth strategy, however, we’re not gluttons for punishment either and in each of those cases we redeployed capital towards other high-quality growth companies with less demanding valuations.”