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Growth stocks are a hot category at the moment. But if you’re a growth investor or looking for the next "big" thing, we have 5 stocks for you to consider.
We scanned the market for some of the hottest growth stocks to buy this July, and we found several opportunities with a 25% plus upside. So what are those stocks and the opportunities they represent? Find out below.
Analysts Expect Duolingo to Rocket
Duolingo ( Nasdaq: DUOL ) is a company that’s focused on teaching its users how to speak new languages. It gives lessons on more than 40 different languages through its intuitive mobile app. If you want to speak the language of stock growth, this is one to look into.
10 analysts are currently weighing in on the stock. Six rate it a Buy, 3 rate it a Hold, and only one rates it a Sell. Where the stock really shines is in the consensus price target. At the moment, the stock boasts a $256.50 price target, representing a potential 37.33% upside.
So, what’s driving all that growth?
The company is driving incredible revenue growth. In the most recent quarter, it reported 45% year-over-year growth and increased its revenue projections. At the same time, earnings are seeing impressive growth too, making Duolingo a stock that’s hard to ignore.
Full Truck Alliance Can Drive You to Profits
Full Truck Alliance (NYSE: YMM) is a digital platform that connects truckers to loads in an attempt to ensure that drivers always have a full load when delivering goods. The platform currently has nearly two and a quarter million active shippers, representing more than 18% year-over-year growth.
Five analysts are weighing in on the stock at the moment. Four of them rate it a Buy, one rates it a Hold, and the stock has no Sell ratings, suggesting that this is a strong stock to add to your portfolio. Moreover, it has an $11.02 price target, representing a 25.74% potential upside.
The company generated $1.188 billion in revenue in the most recent quarter. That’s 25.3% more than the company generated in the same quarter one year ago. And profit growth has been even more impressive — up over 200% year-over-year in the most recent quarter.
Live Nation Entertainment Is Bringing Growth to Life
Live Nation Entertainment (NYSE: LYV) is an entertainment company that handles live events around the world. In particular, the company is centered around promoting and selling live event tickets for some of the largest entertainers in the world.
17 analysts are currently weighing in on the stock, giving it a “Strong Buy” consensus. Of those 17 analysts, 16 rate the stock a Buy, one rates it a Hold, and it has no Sell ratings to speak of. Moreover, the stock boasts a $118.79 consensus price target, representing a potential 25.74% upside.
The company generated $23.421 billion in the 12 months that ended on March 31, representing 30.08% year-over-year growth. Though the company isn’t profitable at the moment, margin and revenue growth continue to impress investors and analysts alike, setting the stage for strong price growth ahead.
Polaris Can Power Portfolio Profits
Polaris ( NYSE: PII ) is an American power sports company. It designs, engineers, manufactures, and sells power sports vehicles like side-by-sides, four-wheelers, and more. And, it has a strong history as a leading brand in the United States and abroad.
Nine analysts are currently weighing in on the stock, giving it a Moderate Buy rating. Three of those analysts rate the stock a Buy, while six rate it a Hold. At the moment, Polaris has no Sell ratings to speak of. But its price target is where it currently shines. The consensus price target on the stock is $94, representing the potential for a 25.45% upside.
While revenue and earnings are down on a year-over-year basis, the company recently beat earnings expectations by over 150%. If it continues to beat expectations, it could produce significant growth for investors.
Yelp May Bring Your Portfolio to New Heights
Yelp ( NYSE: YELP ) is a technology company that manages Yelp.com as well as a mobile app and Yelp Guest Manager — a service designed to manage table reservations at restaurants. The company’s brand is trusted across the United States, and its website is a go-to source for consumer reviews.
Five analysts are currently weighing in on the stock; two rate it a Buy, and three rate it a Hold. There are currently no Sell ratings on the stock. Moreover, analysts are expecting strong growth ahead. The consensus price target on the stock is currently $45.60, representing a potential 25.03% upside.
The Bottom Line
If you’re looking for a strong growth stock to add to your portfolio, consider diving into one of the stocks mentioned above. Duolingo, Full Truck Alliance, Live Nation Entertainment, Polaris, and Yelp all boast consensus price targets that point to 25% or higher growth over the next year. Consider buying shares now so you don’t miss out on the growth that could be ahead.
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