Growth stocks represent companies poised for rapid expansion, beating both the overall market and industry peers. This growth potential translates to large capital appreciation for investors. Also, investing in growth stocks can be a long-term strategy, as these companies reinvest profits to drive future expansion.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
One way to identify these stocks is through their past revenue or earnings growth. Today, we have shortlisted stocks whose revenue has grown at a five-year CAGR of more than 5%. Along with this parameter, we have zeroed in on stocks that have received Strong Buy ratings from Wall Street analysts.
Here are this week’s stocks:
Autodesk (ADSK) – Autodesk is a software company known for its expertise in design, engineering, and 3D modeling tools. Its average price target of $345.11 implies an 18.81% upside potential from the current levels. The company’s revenue has grown at a five-year CAGR of over 10%.
Snowflake (SNOW) – This cloud-based data platform provides data warehousing, analytics, and sharing solutions for businesses. SNOW stock’s average price target of $229.88 implies an upside potential of 7.54%. Its revenue increased at a CAGR of about 44% in the past five years.
Dave (DAVE) – This fintech company provides banking services and financial tools to help users manage money and avoid overdraft fees. The stock has a price forecast of $248.17, which implies a 21.78% upside potential. DAVE’s revenues have witnessed a 23.3% five-year CAGR.
What Is TipRanks’ Smart Growth Newsletter?
TipRanks’ Smart Growth Newsletter provides top growth investment ideas on a weekly basis, based on TipRanks’ data and analysis. The newsletter includes macroeconomic, market-wide, and company-specific analysis to help investors understand the trends that may influence their growth investments.
Stay ahead of the market – subscribe now!