5 Stocks That Will Double In 2023

4. Bill.com Holdings, Inc. (NYSE:BILL)

Number of Hedge Fund Holders: 46

Bill.com Holdings, Inc. (NYSE:BILL) is a leading provider of digital payments and accounting software for small and medium-sized businesses. The company has a strong market position and is growing rapidly. The company is well-positioned to continue its growth in the small and medium-sized business market and is ranked among the stocks that will double by 2023.

On November 3, Bill.com Holdings, Inc. (NYSE:BILL) posted earnings for the fiscal third quarter of 2022. The company reported earnings per share of $0.14 and outperformed estimates by $0.08. The company’s revenue grew by 97.5% year over year and amounted to $229.9 million, ahead of consensus by $19 million. On November 7, Morgan Stanley analyst Keith Weiss revised his price target on Bill.com Holdings, Inc. (NYSE:BILL) to $200 from $220 and maintained an Overweight rating on the shares.

At the end of Q2 2022, 46 hedge funds were bullish on Bill.com Holdings, Inc. (NYSE:BILL) and disclosed stakes of $1.02 billion in the company. Of those, Abdiel Capital Advisors was the top investor in the company and held a position worth $218.5 million.