5 best growth stocks to buy for Q4 2024
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One of the most popular investment strategies today is to buy growth stocks. This is because these are stocks of companies that can generate robust profits and large price gains by outperforming other stocks within their respective sectors. In this article, we detail what growth stocks are and how to find the best ones.
What are the top growth stocks to buy?
Copy link to sectionThe table below contains our top 5 growth stocks, as chosen by our experienced team of analysts. To see the latest market information for a particular stock, simply click on the relevant link in the table. Otherwise, read on to find out more about each company and why it is on our list.
| # | Stock symbol | Company name | 5 year performance | Trade now |
|---|---|---|---|---|
| 1 | NFLX | Netflix | 49% | Trade NFLX Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
| 2 | TTD | The Trade Desk Incorporated | 455% | |
| 3 | TSLA | Tesla | 880% | Trade TSLA Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
| 4 | PYPL | PayPal Holdings Incorporated | -26% | Trade PYPL Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
| 5 | SEDG | SolarEdge Technologies Incorporated | 121% | Trade SEDG Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
Scroll down to see our detailed breakdown of each company, analysing their history, fundamental value, and recent market performance.
1. Netflix (NASDAQ: NFLX)
Copy link to section- 1 Year performance: 51.08%
- 2 Year performance: -28.27%
- 3 Year performance: -19.27%
Netflix is the world’s leading video streaming platform, with over 230 million paid memberships across 190 countries. The company has come a long way since its IPO in 2002 and has delivered strong revenue growth in recent years. In its most recent quarter, Netflix generated $7.9 billion in revenue, up 6% year-over-year, though net income declined due to investments in content.
As the pioneer in video streaming, Netflix has excellent brand recognition and continues expanding into new markets. Despite economic conditions affecting other companies, many industry experts see growth from ad-supported plans and a crackdown on shared accounts.
Netflix ticks almost all boxes for investors seeing a best-performing growth stock. It boasts a market cap of over $100 billion and has reinvented how the world watches entertainment. Its first mover advantage in the fast growth streaming industry bodes well for its future.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2. The Trade Desk Incorporated (NASDAQ: TTD)
Copy link to section- YTD performance: 72.86%
- 2 Year performance: -14.54%
- 3 Year performance: -1.12%
Incorporated in 2009 and based in Ventura, California, The Trade Desk is a technology company that provides services in the United States and internationally. It offers an innovative, ‘smart’ approach to advertising that is intended to benefit all of humankind.
The company’s signature product is its self-service, cloud-based platform that allows buyers to create, manage, and optimise data-driven digital advertising campaigns in a variety of different channels and advertisement formats. TTD states that this is a ‘media-buying platform built for the open internet,’ and this platform allows users to run smarter campaigns, grow their audience and build custom solutions, all from a single, innovative hub.
The really eye-catching thing about TTD – and the key reason it has secured a spot on our list – is the sheer scale of its growth. From humble origins in 2016, the platform has grown in value by well over 2,500%. Our list of the top growth stocks simply wouldn’t be complete without one of the fastest-growing companies around.
3. Tesla (NASDAQ: TLSA)
Copy link to section- YTD performance: 83.27%
- 2 Year performance: -43.14%
- 3 Year performance: -9.28%
Tesla is the world’s most valuable electric vehicle automaker and is known for its innovation and impressive sales growth. The company manufactures EVs, solar products, and battery storage solutions and produces self-driving cars.
Tesla has grown annual revenue from $7 billion in 2018 to over $81 billion in 2022. The last quarter saw operating margins reaching industry-leading levels of over 30%. Under Elon Musk’s leadership, Tesla has been and looks set to continue disrupting the auto industry.
Despite near term production and demand challenges, the company expects 50% annual growth in vehicle deliveries over the coming years. It is also building new factories in Austin, Berlin, and beyond to cope with demand. As the EV sector looks set to experience tremendous growth, Tesla exhibits all the qualities of a top growth stock.
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4. PayPal Holdings Incorporated (NASDAQ: PYPL)
Copy link to section- YTD performance: -24.90%
- 2 Year performance: -71.48%
- 3 Year performance: -73.73%
Founded in 1998 and headquartered in San Jose, California, it is likely you know what PayPal is, and you have probably used its secure global payment services before. For those of you who haven’t heard of the company, PayPal is a technology platform and digital payments company that enables digital and mobile payments for both consumers and merchants internationally. The company’s suite of products includes PayPal, PayPal Credit, Braintree, Venmo, Xoom, Hyperwallet, and iZettle.
With around 26,500 employees worldwide and led by well-known CEO, Dan Schulman, it is one of the world’s largest tech companies, growing by well over 600% in the last 5 years and achieving a large-cap status. With cryptocurrency payment offerings potentially on the horizon, and with many more areas for potential expansion, Paypal’s impressive rise to prominence shows no sign of letting up.
PYPL has secured a spot on this list because it combines the stability and reputation of a major stock with the exciting growth credential of a start-up tech company. It is a unique value combination that is hard to ignore.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
5. SolarEdge Technologies Incorporated (NASDAQ: SEDG)
Copy link to section- YTD performance: -75.64%
- 2 Year performance: -73.17%
- 3 Year performance: -77.95%
Incorporated in 2006 and based in Herzliya, Israel, SolarEdge is an international corporation that designs, develops, and sells some complicated-sounding technology: direct current (DC) optimised inverter systems for solar photovoltaic (PV) installations. In simpler terms, SEDG plays a role in the creation of functioning solar power systems.
With over 3,000 employees and $1.4 billion in revenue, SEDG is one of the leading companies in its expanding sector and having achieved 1,400% growth in the last 5 years, it will no doubt be looking to build on this momentum.
SolarEdge is primarily on this list because of the nature of the industry it occupies. With the ESG thematic growing increasingly significant, a global segue towards clean energy systems to combat climate change appears to be a reality that is drawing closer. SEDG is a company that is likely to be at the front of the pack to benefit from a green energy revolution.
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Where to buy the best growth stocks
Copy link to sectionIf you want to know where to find the best growth stocks, check out our table below. We have recommended several trading platforms because of their low fees, ease of use, and innovative features. Simply click on one of the links to sign up and get started.
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What is a growth stock?
Copy link to sectionA growth stock is the stock of a company with earnings and revenue are growing faster than its peers in the same industry. Growth stocks might look overpriced if you analyse them solely based on the fundamentals – such as price-to-earnings (P/E) ratios – and this can be true with some available options.
Growth companies tend to reinvest profits to accelerate expansion rather than pay dividends. They often operate in high-growth industries or have first-mover advantage in disruptive new markets. Investors purchase shares banking on continued sales growth and market share gains, leading to stock price appreciation.
While the best growth stocks can offer significant returns, they can also carry a higher level of risk, especially in market downturns. Market cap is often an indicator of a growth stock’s success, as companies with larger market capitalisations have demonstrated consistent growth and may be considered among the best-performing growth stocks.
Investors looking to find growth stocks often seek the guidance of industry experts and closely monitor their past performance, including their most recent quarter and net income. Investing in growth stocks can effectively diversify an investment portfolio by incorporating individual stocks or growth ETFs, which track a selection of high-growth stocks.
Are growth stocks a good investment?
Copy link to sectionGrowth stocks can be a good investment, though it depends on circumstances. Certainly, a stock that demonstrates strong earnings and revenue growth has excellent potential to generate returns; however, it is important to take a close look both at the company you’re investing in and the broader prevailing market conditions.
When a stock is riding high, there’s always the chance this is because it is overvalued due to market sentiment, and it is set for a crash landing. Additionally, bear markets can torpedo even the most promising growth stocks, leaving them to sink to the bottom of the market and leaving you vulnerable to capital losses.
Growth stocks are largely fuelled by market sentiment and expectations, so as a result, it is best to invest in growth stocks when market conditions are bullish because this is when stocks of this type perform the best. You can check out the latest analysis concerning growth stocks throughout the investment sphere below:
More of the best performing stocks
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