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.
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 10%. 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:
Alphabet (GOOGL) – Alphabet is Google’s parent company and manages a wide range of businesses in tech, advertising, AI, and other innovative areas. Its average price target of $215.18 implies a 10.69% upside potential from the current levels. The company’s revenue has grown at a five-year CAGR of about 14%.
Take-Two Interactive (TTWO) – Take-Two Interactive makes popular video games like Grand Theft Auto, Red Dead, NBA 2K, and more. TTWO stock’s average price target of $259.24 implies an upside potential of 16.26%. Its revenue increased at a CAGR of 11% in the past five years.
Ross Stores (ROST) – Ross Stores is an off-price retail chain in the U.S. The stock has a price forecast of $154.85, which implies a 10.8% upside potential. ROST’s revenues have witnessed an 11% 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!