10 Best Growth Stocks To Buy According To George Soros

8. Jacobs Solutions Inc. (NYSE:J)

Soros Fund Management’s Stake Value: $52.12 Million

Number of Hedge Fund Holders: 34

Jacobs Solutions Inc. (NYSE:J) ranks eighth on our list of the best growth stocks to buy according to George Soros, and makes up 0.93% of the portfolio. The fund increased its position in the stock by 7% during the second quarter of 2024. Jacobs Solutions Inc. (NYSE:J) engages in the provision of engineering, technical, professional, and construction services, with a specialized focus on building data centers, life sciences facilities, and spacecraft.

The company provides its services in more than 40 countries. In the fiscal third quarter of 2024, the company logged $4.23 billion in revenue and had a backlog of $30.6 billion, up by 6% year-over-year. Jacobs Solutions Inc. (NYSE:J) is consistently growing and that has been brought to fruition because of its focus on portfolio optimization and high-growth sectors.

The company is benefiting from the growth in technology. Its recent spin-off may tremendously expand the company’s position in the technology industry. Jacobs Solutions Inc. (NYSE:J) is set to merge its Critical Mission Solutions and Cyber & Intelligence Government Services Businesses with Amentum. This will make Jacobs a pure-play technology company, creating new and improved opportunities for its employees.

On the financial front, Jacobs Solutions generated $10.9 billion in revenue in FY 2023, excluding segments to be merged. Total revenue for the business was $16 billion, showcasing how crucial and dominant its tech line is. Analysts are bullish on J and its future growth potential. Their 12-month median price target of $165 points to a 10% upside from current levels.