5 Most Promising Growth Stocks According to Analysts

4. Ebix, Inc. (NASDAQ:EBIX)

Number of Hedge Fund Holders: 17

Average Price Target by Analysts: $96.75

Shares of California-based software company Ebix, Inc. (NASDAQ:EBIX) are trading at around $17 as of February 21 morning. Analysts’ average price target for the stock is $96.75. This shows a huge upside potential from current levels. In November, Ebix, Inc. (NASDAQ:EBIX) posted its third quarter results. Adjusted EPS in the period came in at $0.70. Revenue in the quarter jumped about 34.5% on a YoY basis to reach $257.9 million, beating estimates by $46.15 million.

Ebix, Inc. (NASDAQ:EBIX) recently announced that its annuity exchange AnnuityNet4 (AN4) saw record volumes in 2022, driven by favorable market conditions and interest rate dynamics.

Transactions on the platform surpassed 580,000, showing a YoY growth of 36%.

Hedge funds are also increasing their bets in Ebix, Inc. (NASDAQ:EBIX). At the end of the third quarter, 17 funds had stakes in Ebix, Inc. (NASDAQ:EBIX), up from 13 funds in the previous quarter.