5 High Growth SaaS Stocks that are Profitable

In this piece, we will take a look at five high growth SaaS stocks that are profitable. For more stocks, head on over to 12 High Growth SaaS Stocks that are Profitable.

5. Qualys, Inc. (NASDAQ:QLYS)

Q/Q Sales Growth: 19%

Number of Hedge Fund Holders in Q3 2022: 25

Qualys, Inc. (NASDAQ:QLYS) is an information technology firm with a wide variety of capabilities in its portfolio that allow users to maintain policy compliance, run threat detection, scan applications for threats, and run firewalls. It is headquartered in Foster City, California.

Qualys, Inc. (NASDAQ:QLYS)’s fiscal quarter ending in December 2022 saw the firm rake in $130 million in revenue. Since it had earned $109.7 million through net sales in the year ago quarter, this marked a 19% annual growth. By the end of 2022’s third quarter, 25 of the 920 hedge funds polled by Insider Monkey had bought a stake in Qualys, Inc. (NASDAQ:QLYS).

Terry Smith’s Fundsmith LLP is Qualys, Inc. (NASDAQ:QLYS)’s largest investor. It owns 658,407 shares that are worth $73 million.

4. ServiceNow, Inc. (NYSE:NOW)

Q/Q Sales Growth: 20%

Number of Hedge Fund Holders in Q3 2022: 103

ServiceNow, Inc. (NYSE:NOW) is a cloud computing company that provides a platform to enable firms to manage their IT systems, run analytics, and develop products. The firm is headquartered in Santa Clara, California.

ServiceNow, Inc. (NYSE:NOW)’s fiscal quarter that ended in December 2022 saw the firm rake in $1.9 billion in revenue, marking a strong 20% annual growth. Additionally,  the firm raked in a whopping $325 million in profit for the full year 2022. 103 of the 920 hedge funds polled by Insider Monkey during Q3 2022 had bought ServiceNow, Inc. (NYSE:NOW)’s shares.

ServiceNow, Inc. (NYSE:NOW)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 1.3 million shares that are worth $508 million.

3. BlackLine, Inc. (NASDAQ:BL)

Q/Q Sales Growth: 21%

Number of Hedge Fund Holders in Q3 2022: 23

BlackLine, Inc. (NASDAQ:BL) is a financial automation company that enables users to reconcile their accounts, make journal entries, and discover balance sheet anomalies. It is based in Woodland Hills, California.

By the end of its December 2022 quarter, BlackLine, Inc. (NASDAQ:BL)’s revenue for the three months had stood at $139 million, allowing a sizeable 21% annual growth. Insider Monkey took a look at 920 hedge fund holdings for the third quarter of last year to determine that 23 had owned a stake in the firm.

BlackLine, Inc. (NASDAQ:BL)’s largest investor is Greg Poole’s Echo Street Capital Management which owns 1.2 million shares that are worth $80 million.

2. Intuit Inc. (NASDAQ:INTU)

Q/Q Sales Growth: 25%

Number of Hedge Fund Holders in Q3 2022: 86

Intuit Inc. (NASDAQ:INTU) is a financial software and services provider that is headquartered in Mountain View, California. Its products allow customers to manage their payrolls and payments.

Intuit Inc. (NASDAQ:INTU) reported $2.5 billion in revenue for its quarter ending in October 2022, for a flat 25% annual growth. The firm’s trailing twelve month net income is $1.8 billion, boosted primarily by its quarter that ended in April 2022 which saw a $1.7 billion net profit. 86 of the 920 hedge funds polled by Insider Monkey in Q3 2022 had held a stake in the firm.

Ken Fisher’s Fisher Asset Management is Intuit Inc. (NASDAQ:INTU)’s largest shareholder. It owns 2.4 million shares that are worth $939 million.

1. SentinelOne, Inc. (NYSE:S)

Q/Q Sales Growth: 106%

Number of Hedge Fund Holders in Q3 2022:

SentinelOne, Inc. (NYSE:S) is a cybersecurity company that delivers automated threat detection products and services. It is based in Mountain View, California.

SentinelOne, Inc. (NYSE:S) had a bumper third quarter of the fiscal year 2023 that saw the firm report $115 million in revenue, almost double the $56 million that it had raked in the year ago quarter. By the end of last year’s third quarter, 30 of the 920 hedge funds surveyed by Insider Monkey had bought the company’s shares.

SentinelOne, Inc. (NYSE:S)’s largest investor is Dan Loeb’s Third Point which owns 14.7 million shares that are worth $214 million.

Disclosure: None. You can also take a peek at 15 Biggest Insurance Companies in the World and 15 Most Creative Companies in the World.

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