In this article, we discuss 5 high growth international stocks to buy. If you want to see more stocks in this selection, check out 11 High Growth International Stocks to Buy.
5. SolarEdge Technologies, Inc. (NASDAQ:SEDG)
Number of Hedge Fund Holders: 43
Quarterly Revenue Growth YoY as of December 30, 2022: 61.40%
SolarEdge Technologies, Inc. (NASDAQ:SEDG) was incorporated in 2006 and is headquartered in Herzliya, Israel. The company designs, develops, and markets direct current optimized inverter systems for solar photovoltaic installations worldwide. It is one of the top high growth international stocks to invest in. On February 13, SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported a Q4 non-GAAP EPS of $2.86 and a revenue of $890.7 million, outperforming Wall Street estimates by $1.27 and $11.64 million, respectively.
On February 15, Wells Fargo analyst Michael Blum raised the firm’s price target on SolarEdge Technologies, Inc. (NASDAQ:SEDG) to $374 from $367 and reiterated an Overweight rating on the shares following the Q4 results and Q1 guidance that topped expectations. Europe strength is anticipated to offset U.S. weakness, the firm noted, adding that battery shipments will experience supply chain constraints in the short-term.
According to Insider Monkey’s Q4 data, 43 hedge funds were long SolarEdge Technologies, Inc. (NASDAQ:SEDG), compared to 44 funds in the prior quarter. Richard Mashaal’s Rima Senvest Management is the largest stakeholder of the company, with 759,071 shares worth $215 million.
Here is what ClearBridge International Growth EAFE Portfolio has to say about SolarEdge Technologies, Inc. (NASDAQ:SEDG) in its Q2 2022 investor letter:
“We are well-positioned to participate in the accelerating energy transition. High and rising utility costs combined with policy support are driving increased penetration of home solar plus storage systems in Europe. Israel-based SolarEdge Technologies (NASDAQ:SEDG) expects to see significant growth in solar installations in this market led by Germany and Italy, among others, where consumers are not only demanding solar on the roof but a complete system solution including batteries. This phenomenon is accelerating revenue growth for these companies.”
Follow Solaredge Technologies Inc. (NASDAQ:SEDG)
Follow Solaredge Technologies Inc. (NASDAQ:SEDG)
4. PDD Holdings Inc. (NASDAQ:PDD)
Number of Hedge Fund Holders: 57
Quarterly Revenue Growth YoY as of September 29, 2022: 65.00%
PDD Holdings Inc. (NASDAQ:PDD) was incorporated in 2015 and is headquartered in Shanghai, China. It operates an e-commerce platform in the People’s Republic of China. It is one of the best high growth international stocks to invest in, as Q3 revenue of $4.99 billion climbed 65.0% year-over-year, beating estimates by $690 million, due to an increase in revenues from online marketing services and transaction services.
On December 9, KGI Securities analyst Andrew Cheng upgraded PDD Holdings Inc. (NASDAQ:PDD) to Outperform from Neutral with a $110 price target.
According to Insider Monkey’s fourth quarter database, 57 hedge funds were bullish on PDD Holdings Inc. (NASDAQ:PDD), compared to 54 funds in the prior quarter. D E Shaw is the biggest stakeholder of the company, with 5.7 million shares worth $468 million.
Here is what Tao Value has to say about PDD Holdings Inc. (NASDAQ:PDD) in its Q4 2021 investor letter:
“On the detracting side, one of our largest detractors includes PDD Holdings Inc. (NASDAQ:PDD). PDD Holdings Inc. (NASDAQ:PDD) reported the second consecutive GAAP profit quarter yet missed on the revenue due to nation-wide consumption weakness & scaled back Sales & Marketing efforts. Market disliked it and the stock price plunged on the earnings. In my opinion, the accounting profits proved the original thesis of using S&M to acquire users and using great shopping experience to keep them. After realizing the first growth curve, Pinduoduo now shifted its focus & investment to agriculture. It is still very early, but the reduced size due to price drop warrants a position to watch and continue to grow with such a team with a strong culture.”
Follow Pinduoduo Inc. (NASDAQ:PDD)
Follow Pinduoduo Inc. (NASDAQ:PDD)
3. Genmab A/S (NASDAQ:GMAB)
Number of Hedge Fund Holders: 12
Quarterly Revenue Growth YoY as of December 30, 2022: 72.2%
Genmab A/S (NASDAQ:GMAB) was founded in 1999 and is headquartered in Copenhagen, Denmark. The company develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. On February 23, Genmab A/S (NASDAQ:GMAB) reported FY 2022 GAAP EPS of DKK83.65 and a revenue of DKK14.6 billion, up 72.2% year-over-year. Genmab A/S (NASDAQ:GMAB) expects its 2023 revenue to be in the range of DKK 14,600 million – 16,100 million, compared to DKK 14,595 million in 2022. It is one of the top high growth international stocks to monitor.
On February 23, Danske Bank analyst Thomas Bowers upgraded Genmab A/S (NASDAQ:GMAB) to Buy from Hold with a DKK 3,200 price target.
According to Insider Monkey’s fourth quarter database, 12 hedge funds were bullish on Genmab A/S (NASDAQ:GMAB), and Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company, with 401,154 shares worth $17 million.
Artisan Partners made the following comment about Genmab A/S (NASDAQ:GMAB) in its Q4 2022 investor letter:
“Genmab A/S (NASDAQ:GMAB) is a developer of monoclonal antibody products for the treatment of life-threatening and debilitating diseases. Growth remains strong (+35% YoY in the most recent quarter) for Darzalex, the company’s leading therapy for multiple myeloma, and we continue to find Genmab’s new product pipeline as attractive. However, we trimmed the position based on valuation to support more compelling opportunities within biotech.”
Follow Genmab A/S (NASDAQ:GMAB)
Follow Genmab A/S (NASDAQ:GMAB)
2. Tenaris S.A. (NYSE:TS)
Number of Hedge Fund Holders: 16
Quarterly Revenue Growth YoY as of September 29, 2022: 76.00%
Tenaris S.A. (NYSE:TS) was incorporated in 2001 and is based in Luxembourg. The company produces and commercializes seamless and welded steel tubular products, providing related services for the energy industry and other industrial applications. On February 15, Tenaris S.A. (NYSE:TS) reported a Q4 GAAP EPS of $0.68, missing Street forecasts by $0.70. The revenue of $3.62 billion climbed 76% on a year-over-year basis, beating Wall Street consensus by $70 million.
On February 17, Cowen analyst Marc Bianchi raised the firm’s price target on Tenaris S.A. (NYSE:TS) to $49 from $45 and maintained an Outperform rating on the shares. The analyst noted that the company is looking at peakish margins, but its valuation is attractive on a mid-cycle basis.
According to Insider Monkey’s Q4 data, 16 hedge funds were bullish on Tenaris S.A. (NYSE:TS), compared to 17 funds in the prior quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP is the biggest position holder in the company, with 883,433 shares worth $31 million.
Here is what Artisan Partners has to say about Tenaris S.A. (NYSE:TS) in its Q2 2021 investor letter:
“The holdings that dampened returns in Q2 (includes) Tenaris. The share price was down less than 4% in local currency, and there was no significant fundamental reason to point to. Year to date, the share price of the company is up significantly.”
Follow Tenaris S A (NYSE:TS)
Follow Tenaris S A (NYSE:TS)
1. Woodside Energy Group Ltd (NYSE:WDS)
Number of Hedge Fund Holders: 9
Quarterly Revenue Growth YoY as of December 30, 2022: 142.00%
Woodside Energy Group Ltd (NYSE:WDS) was founded in 1954 and is headquartered in Perth, Australia. The company focuses on the exploration, development, production, and marketing of hydrocarbons in Oceania, Asia, Canada, Africa, and internationally. It produces liquefied natural gas, pipeline natural gas, condensate, liquefied petroleum gas, and crude oil. On February 27, Woodside Energy Group Ltd (NYSE:WDS) reported FY 2022 revenue of $16.82 billion, beating Wall Street estimates by $140 million and up 142% year-over-year. It is one of the best high growth international stocks to monitor.
On December 11, Henry Meyer, an analyst at Goldman Sachs, started coverage of Woodside Energy Group Ltd (NYSE:WDS) by assigning it a Buy rating and setting a target price of A$41.80. According to the analyst’s research note, Woodside Energy Group Ltd (NYSE:WDS) has become one of the biggest independent oil and gas producers globally after merging with BHP Petroleum. The analyst predicts that Woodside Energy Group Ltd (NYSE:WDS) will earn record profits until 2023 due to its exceptional access to spot prices for liquefied natural gas and oil, which he believes will remain high.
According to Insider Monkey’s Q4 data, 9 hedge funds were long Woodside Energy Group Ltd (NYSE:WDS), compared to 10 funds in the last quarter.
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