In this article, we discuss the 5 stocks that will double in 2021. If you want to read our detailed analysis of these stocks, go directly to the 15 Stocks that Will Double In 2021.
5. Masonite International Corporation (NYSE: DOOR)
Number of Hedge Fund Holders: 31
Masonite International Corporation (NYSE: DOOR) is placed fifth on our list of 15 stocks that will double in 2021. The company’s shares have returned 20% to investors in the past year. The company is headquartered in Florida and makes and sells doors for interior and exterior purposes. On June 24, the firm announced that it would be investing in a new manufacturing facility in South Carolina. According to the firm, the new facility would employ 220 workers and would start functioning as soon as early 2022.
On May 27, investment advisory resumed coverage of Masonite International Corporation (NYSE: DOOR) stock with a Buy rating and a price target of $148, highlighting that the was expected to benefit from the boom in housing prices as the leading door manufacturer.
At the end of the first quarter of 2021, 31 hedge funds in the database of Insider Monkey held stakes worth $405 million in Masonite International Corporation (NYSE: DOOR), up from 28 the preceding quarter worth $414 million.
4. Jazz Pharmaceuticals plc (NASDAQ: JAZZ)
Number of Hedge Fund Holders: 37
Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is an Ireland-based pharmaceutical firm. It is ranked fourth on our list of 15 stocks that will double in 2021. The stock has returned 51% to investors over the past twelve months. The company was founded in 2003 and has a market cap of over $10 billion. It posted more than $2.3 billion in revenue last year. The firm focuses on developing medicines related to neurological problems, including sleep disorders, movement disorders, and others.
On July 23, investment advisory RBC Capital reiterated an Outperform rating on Jazz Pharmaceuticals plc (NASDAQ: JAZZ) stock and raised the price target to $216 from $190, underlining that new products of the firm would be important growth catalysts.
At the end of the first quarter of 2021, 37 hedge funds in the database of Insider Monkey held stakes worth $1.2 billion in Jazz Pharmaceuticals plc (NASDAQ: JAZZ), up from 29 in the preceding quarter worth $1.3 billion.
3. MongoDB, Inc. (NASDAQ: MDB)
Number of Hedge Fund Holders: 46
MongoDB, Inc. (NASDAQ: MDB) is a New York-based firm that owns and operates a general purpose database platform. It is placed third on our list of 15 stocks that will double in 2021. The company’s shares have returned 67% to investors over the past year. On June 3, the firm posted earnings for the first quarter, reporting earnings per share of -$0.15, beating predictions by $0.21. The revenue over the period was $181 million, up 39% year-on-year and beating estimates by $11 million.
On July 14, investment advisory Canaccord maintained a Buy rating on MongoDB, Inc. (NASDAQ: MDB) stock and raised the price target to $395 from $375, noting the growth in data management in the industry with developers wanting easy to manage platforms.
At the end of the first quarter of 2021, 46 hedge funds in the database of Insider Monkey held stakes worth $1.5 billion in MongoDB, Inc. (NASDAQ: MDB), up from 36 in the previous quarter worth $2.1 billion.
2. Zynga Inc. (NASDAQ: ZNGA)
Number of Hedge Fund Holders: 47
Zynga Inc. (NASDAQ: ZNGA) stock has offered investors returns exceeding 5.4% over the course of the past year. It is ranked second on our list of 15 stocks that will double in 2021. The firm is headquartered in California and provides social game services. On May 5, in earnings results for the first quarter, the firm reported earnings per share of -$0.02, beating estimates by $0.02.The revenue over the period was $680 million, up 68% compared to the revenue over the same period last year.
On May 6, investment advisory Bank of America upgraded Zynga Inc. (NASDAQ: ZNGA) stock to Buy from Neutral with a price target of $13.5, appreciating the strong quarterly results posted by the firm with double digits organic growth.
At the end of the first quarter of 2021, 47 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Zynga Inc. (NASDAQ: ZNGA), down from 52 in the previous quarter worth $1 billion.
In its Q4 2020 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Zynga Inc. (NASDAQ: ZNGA) was one of them. Here is what the fund said:
“We also added to our position in Zynga. Our multiyear investment campaign in Zynga has been based on a new management team’s ability to drive steady growth in the company’s base portfolio of games, expand margins, reinvigorate the new game development pipeline and use its strong balance sheet to acquire complementary games and studios. Shares have been pressured in recent quarters, presumably because of investor concerns about the company’s moderating growth rate and Apple’s pending new privacy policy which will make it more difficult for Zynga to both efficiently acquire new players and sell advertising in its games. We believe the company has multiple growth levers it can pull in the periods ahead, including the rollout of new games, acquisitions, further penetration into international markets and entry into new gaming categories, to name a few. Furthermore, our research suggests the Apple privacy policy change is manageable for larger mobile game developers such as Zynga. Given our strong conviction in the profit cycle, we used recent weakness to add to our position.”
1. ViacomCBS Inc. (NASDAQ: VIAC)
Number of Hedge Fund Holders: 89
ViacomCBS Inc. (NASDAQ: VIAC) is placed first on our list of 15 stocks that will double in 2021. The company’s shares have offered investors returns exceeding 62% over the course of the past twelve months. The firm is based in New York and markets media and entertainment services. It has a market cap of over $27 billion and posted more than $25 billion in revenue last year. The firm was founded in 1986. The firm beat market expectations on revenue and earnings per share in the first quarter.
On May 20, investment advisory Bank of America upgraded ViacomCBS Inc. (NASDAQ: VIAC) stock to buy from Underperform. The price target was also raised to $53 from $38 with the advisory expecting further media consolidation that would benefit the firm.
At the end of the first quarter of 2021, 89 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in ViacomCBS Inc. (NASDAQ: VIAC), up from 44 the preceding quarter worth $919 million.
You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Consumer Discretionary Stocks to Buy Now.
