In this article, we will take a look at the 5 stocks with consistent growth. To read our analysis of recent market trends, you can go to 15 Stocks with Consistent Growth.
5. Enphase Energy, Inc. (NASDAQ:ENPH)
5-Year Average Sales Growth: 55.82%
Number of Hedge Fund Holders: 50
Enphase Energy, Inc. (NASDAQ:ENPH), based in Fremont, California, is a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems.
On October 30, Goldman Sachs analyst Brian Lee lowered the price target for Enphase Energy, Inc. (NASDAQ:ENPH) shares to $158 from $180 but maintained a ‘Buy’ rating. The target price represents a potential upside of 74.26% based on the share price on November 17.
As of Q2 2023, Enphase Energy, Inc. (NASDAQ:ENPH) shares were held by 50 of the 910 hedge funds tracked by Insider Monkey, valued at more than $773 million. Philippe Laffont’s Coatue Management was the largest hedge fund shareholder with ownership of 0.6 million shares valued at $687 million.
4. Callon Petroleum Company (NYSE:CPE)
5-Year Average Sales Growth: 56.88%
Number of Hedge Fund Holders: 19
Houston, Texas-based Callon Petroleum Company (NYSE:CPE) is an independent oil and natural gas company focused on the acquisition, exploration, and development of high-quality assets in the leading oil plays of West and South Texas.
On July 5, Callon Petroleum Company (NYSE:CPE) announced the closing of previously announced acquisition of Delaware Basin assets from Percussion Petroleum Operating II, LLC for a cash consideration of $249 million and 6.3 million shares of the company. It also announced the divestment of its Eagle Ford assets to Ridgemar Energy Operating, LLC and received $551 million in cash at closing. After the closing of the transactions, a $300 million share repurchase program has become effective for the next two years.
3. Twilio Inc. (NYSE:TWLO)
5-Year Average Sales Growth: 57.73%
Number of Hedge Fund Holders: 49
Founded in 2008, San Francisco, California-based Twilio Inc. (NYSE:TWLO) is a technology company that provides a Customer Engagement Platform which enables companies to use communications and data to add intelligence and security to every step of the customer journey.
On November 8, Twilio Inc. (NYSE:TWLO) released its financial results for Q3 2023. Its revenue increased by 5% y-o-y to $1.0 billion while net loss shrunk by 71% y-o-y to $140 million. The company generated a normalized EPS of $0.58 which was $0.22 more than the consensus estimates.
Following the earnings release, JMP Securities analyst Patrick Walravens reiterated a ‘Market Outperform’ rating for Twilio Inc. (NYSE:TWLO) shares with an unchanged target price of $110. The target price represents an upside potential of 78.72% based on the share price on November 17.
2. New Fortress Energy LLC (NASDAQ:NFE)
5-Year Average Sales Growth: 98.92%
Number of Hedge Fund Holders: 25
New York-based New Fortress Energy LLC (NASDAQ:NFE) is a global energy infrastructure company that develops, finances, and operates natural gas facilities, power plants and logistics solutions to deliver fully integrated, turnkey energy solutions.
On November 7, New Fortress Energy LLC (NASDAQ:NFE) announced the close of up to $575 million in financings to complete construction of its 630 MW Barcarena power plant, which is approximately 37% completed pursuant to a fixed-price, date-certain EPC contract with Mitsubishi and Toyo Setal.
New Fortress Energy LLC (NASDAQ:NFE) is working on a deleveraging plan to strengthen the financial position of the company and has identified non-core assets for potential sale that can bring in nearly $1.0 billion. The divestitures are expected to be undertaken in the next 12 months, according to the company.
1. eXp World Holdings, Inc. (NASDAQ:EXPI)
5-Year Average Sales Growth: 106.29%
Number of Hedge Fund Holders: 10
Bellingham, Washington-based EXp World Holdings, Inc. (NASDAQ:EXPI) offers a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools, and personal development. The holding company provides these services through its businesses eXp Realty®, Virbela and SUCCESS® Enterprises.
On November 2, EXp World Holdings, Inc. (NASDAQ:EXPI) released its financial results for Q3 2023. Its revenue declined by 2% y-o-y to $1.2 billion while it reported a net income of $1.3 million. The normalized EPS for the quarter was in-line with consensus estimates at $0.06.
As of Q2 2023, EXp World Holdings, Inc. (NASDAQ:EXPI) shares were owned by 22 of the 910 hedge funds tracked by Insider Monkey, with a total value of $161 million. Notable hedge fund investors included Point72 Asset Management, Avidity Partners Management, and Renaissance Technologies, among others.
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