5 Oversold Growth Stocks to Buy Right Now

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1. Lululemon Athletica Inc. (NASDAQ:LULU)

14-day RSI as of April 5: 18.26

Latest Trailing P/E Ratio: 27.42

Number of Hedge Fund Holders: 52

Vancouver, Canada-based Lululemon Athletica Inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and other sweaty pursuits.

On March 21, Lululemon Athletica Inc. (NASDAQ:LULU) released its financial results for the quarter ended January 28, 2024. Its revenue went up by 16% year-on-year to $3.2 billion while its net income surged by 459% year-on-year to $669 million.

Lululemon Athletica Inc. (NASDAQ:LULU) has been a consistent component of hedge fund portfolios. As of Q4 2023, its shares were held by 52 hedge funds tracked by Insider Monkey. In its Q4 2023 “Artisan Mid Cap Fund” investor letter, Artisan Partners, an investment management company, made the following comments about Lululemon Athletica Inc. (NASDAQ:LULU):

“Lululemon is a designer and retailer of yoga-inspired apparel. An upgraded management team has delivered impressive results in recent years, strengthening all operational functions—supply chain, product design, e-commerce, digital marketing—and driving higher traffic in both brick-and-mortar and online stores. Recent financial results suggest the profit cycle remains nicely in motion as the company beat estimates across both brick-and-mortar and digital sales along with margins.”

You may also like to read 14 Dividend Growth Stocks with Highest Growth Rates and 10 Extreme Dividend Stocks to Buy Now

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