5 Most Promising Growth Stocks According to Analysts

In this piece, we will take a look at the five most promising growth stocks according to analysts. If you want to learn all about growth investments and its lucrative potential, then read 13 Most Promising Growth Stocks According to Analysts.

5. Eli Lilly and Company (NYSE:LLY)

Average Analyst Share Price Upside: 10%

Eli Lilly and Company (NYSE:LLY) is another big pharma giant. Its weight loss drug continues to be one of the strongest on the market, as the results of a study revealed in December 2023 that patients using Eli Lilly and Company (NYSE:LLY)’s treatment shed nearly twice the weight in percentage terms when compared to a rival product.

During Q3 2023, 102 out of the 910 hedge funds covered by Insider Monkey were Eli Lilly and Company (NYSE:LLY)’s shareholders. Ken Fisher’s Fisher Asset Management was the biggest shareholder among these as it held a $2.3 billion stake.

4. Oracle Corporation (NYSE:ORCL)

Average Analyst Share Price Upside: 11%

Oracle Corporation (NYSE:ORCL) is one of the largest and most dominant enterprise resource planning (ERP) product providers in the world. The firm has beaten analyst EPS estimates in all four of its latest quarters and the shares are rated Buy on average.

After digging through 910 hedge funds for their September quarter of 2023 shareholdings, Insider Monkey discovered that 88 had bought the firm’s shares. Oracle Corporation (NYSE:ORCL)’s largest investor in our database is Ken Fisher’s Fisher Asset Management as it owns $1.9 billion worth of shares.

3. Alphabet Inc. (NASDAQ:GOOGL)

Average Analyst Share Price Upside: 12%

Alphabet Inc. (NASDAQ:GOOGL) is a mega cap technology firm with a commanding presence across several lucrative technology sectors. December 2023 has been all about antitrust woes at the firm’s Google division as after it lost a court case, it also announced a $700 million settlement related to its Android software.

By the end of this year’s third quarter, 221 out of the 910 hedge funds profiled by Insider Monkey were Alphabet Inc. (NASDAQ:GOOGL)’s shareholders. Out of these, the biggest stakeholder was Ken Fisher’s Fisher Asset Management through a $5.7 billion stake.

2. NVIDIA Corporation (NASDAQ:NVDA)

Average Analyst Share Price Upside: 17%

NVIDIA Corporation (NASDAQ:NVDA) is a GPU designer and seller. Despite the fact that its shares are up by 249% year to date, analysts have rated them as Strong Buy on average and priced in an additional 17% upside through an average share price target of $588.54.

As of September 2023 end, 180 out of the 910 hedge funds covered by Insider Monkey’s research had bought and owned the firm’s shares. NVIDIA Corporation (NASDAQ:NVDA)’s largest hedge fund investor is Rajiv Jain’s GQG Partners as it owns $6.1 billion worth of shares.

1. ConocoPhillips (NYSE:COP)

Average Analyst Share Price Upside: 20%

ConocoPhillips (NYSE:COP) is an American oil and gas exploration and production company with operations all over the world. November and December were busy months for the firm as its LNG production and shipments in Australia were halted when a tanker got stuck.

62 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 database were ConocoPhillips (NYSE:COP)’s investors. Natixis Global Asset Management’s Harris Associates was the biggest shareholder due to its $1.6 billion stake.

Disclosure: None. You can also take a look at 14 Best Automation Stocks To Buy Now and Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks.

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