5 Most Undervalued Growth Stocks To Buy According To Hedge Funds

In this article, we will be taking a look at the 5 most undervalued growth stocks to buy according to hedge funds. To read our detailed analysis of current stock market dynamics, you can go directly to see the 16 Most Undervalued Growth Stocks To Buy According To Hedge Funds.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 173

Share Price Gains Year-t0-Date: 96.5%

Upside Potential: 3.2%

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

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

We saw 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.”