Best Growth Stocks Right Now

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Contributor, Benzinga
May 19, 2022

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Etsy (XNAS:ETSY)

Etsy operates a top-10 e-commerce marketplace operator in the U.S. and the U.K., with sizable operations in France, Germany, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $13.5 billion in 2021 consolidated gross merchandise volume, the firm has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the fourth quarter of 2021, the firm connected more than 96 million buyers and more than 7.5 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), Elo7 (crafts in Brazil), and Depop (clothing resale).

Etsy
(XNAS:ETSY)
$109.38
Last update: 4:00PM
Day Range- - -
52 Wk Range67.01 - 223.22
Open / Close- / -
Vol / Avg.- / 4.9M
Mkt Cap13.8B
P/E38.65
Div / Yield-
Payout Ratio-
Total Float-

Qualcomm (XNAS:QCOM)

Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company’s key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G and 4G networks. The firm is a leader in 5G network technology as well. Qualcomm’s IP is licensed by virtually all wireless device makers. The firm is also the world’s largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Posting a quarterly revenue growth of 64.70% and earnings growth of 139.90%, Qualcomm announced an acquisition of smaller auto parts company Veoneer in order to increase its share of advanced driver assist systems on new vehicles.

Qualcomm
(XNAS:QCOM)
$150.21
Last update: 4:00PM
Day Range- - -
52 Wk Range118.23 - 193.58
Open / Close- / -
Vol / Avg.- / 9.5M
Mkt Cap168.7B
P/E13.32
Div / Yield3/2.00%
Payout Ratio24.73
Total Float-

Coterra Energy (XNYS:CTRA)

Coterra is an independent exploration and production company with operations in Appalachia and the Permian Basin. It was formed after the 2021 merger with Cabot and Cimarex. At year-end 2021, Coterra’s proved reserves were 2.9 billion barrels of oil equivalent, with net production that year of approximately 431 million barrels of oil equivalent per day (of which 70% was natural gas).

Coterra Energy
(XNYS:CTRA)
$27.92
-0.01[-0.04%]
Last update: 4:00PM
Day Range- - -
52 Wk Range18.39 - 36.55
Open / Close- / -
Vol / Avg.- / 10.7M
Mkt Cap22.2B
P/E6.7
Div / Yield1.61/5.76%
Payout Ratio12.83
Total Float-

Shopify (XNYS:SHOP)

Shopify offers an e-commerce platform primarily to small and midsize businesses. The firm has two segments: subscription solutions (43% of fiscal 2018 revenue) and merchant solutions (57% of fiscal 2018 revenue). The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company’s website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. Merchant solutions are add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.

Shopify
(XNYS:SHOP)
$40.765
-0.045[-0.11%]
Last update: 3:59PM
Day Range- - -
52 Wk Range29.72 - 1393.67
Open / Close- / -
Vol / Avg.- / 16.1M
Mkt Cap51.7B
P/E-
Div / Yield-
Payout Ratio-
Total Float-

Applied Materials (XNAS:AMAT)

Applied Materials is one of the world’s largest suppliers of semiconductor manufacturing equipment, providing materials engineering solutions to help make nearly every chip in the world. The firm’s systems are used in nearly every major process step with the exception of lithography. Key tools include those for chemical and physical vapor deposition, etching, chemical mechanical polishing, wafer- and reticle-inspection, critical dimension measurement, and defect-inspection scanning electron microscopes.

Applied Materials
(XNAS:AMAT)
$109.62
Last update: 4:00PM
Day Range- - -
52 Wk Range82.67 - 167.06
Open / Close- / -
Vol / Avg.- / 7.6M
Mkt Cap95.4B
P/E14.66
Div / Yield1.04/0.95%
Payout Ratio12.83
Total Float-

Growth stocks are made up of companies that are set to grow their earnings and revenue by an abundant amount compared to the rest of the market, which also has an impact on the price of each company’s stocks. This group of companies includes some of the world’s most well-known and largest firms, such as Netflix, Disney, Amazon, and Meta Platforms. 

Stocks in the growth sector, which are holistically represented by the iShares Russell Top 200 Growth ETF (IWY), have broadly outperformed the market as IWY at-large has provided investors with lower returns than these stocks.

Here are the top growth stocks across all sectors.

Overview: Growth Stocks

Growth versus value is one of the oldest battles on the stock market, a rivalry on par with Yankees/Red Sox or Elon Musk and the SEC. Value investors seek out unheralded companies with excellent balance sheets and price ratios. Value stocks, then, are cheap stocks.

On the other hand, investors looking for growth stocks aren’t as concerned about fundamentals. In the world of growth, investors don’t bother looking at the P/E ratio half of the time. Growth investors are concerned with growth — how much the company is expanding in terms of revenue, clientele and market capture.

When investing for growth, investors look for stocks that have the potential to dominate a large swath of the market. Companies looking to fill a niche market won’t suffice, nor will companies that seek to return profits to shareholders like banks or consumer staples. Growth companies reinvest their extra profits back into research and development or expansion, so dividend payments are small or nonexistent. Investors in growth companies are looking for one thing only — stock price appreciation.

Best Online Brokers for Growth Stocks

Growth stocks are some of the most heavily traded shares on the market, so choose the broker with the best features for your type of trading. If you’re looking for long-term appreciation from growth stocks, a commission-free broker works best so you can trim losers and add to winners.

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Features to Look for in Growth Stocks

  • Large potential market of customers: One of the reasons Amazon, Google and Netflix grew to such heights was their potential client base — limited only by the strains of earth’s population. Millions upon millions of people can search on Google, purchase items on Amazon or watch TV and movies on Netflix. The best growth stocks have global potential, so don’t focus on companies that are happy to find their little niche. Think big.
  • Rapid revenue growth: Growth stocks need growth? You don’t say! Yes, every company wants to grow their revenue but growth stocks do it exponentially. Rapid revenue growth doesn’t mean steady increases of 10% each year. We’re looking for companies that are doubling their sales every year or 2.
  • Debt load not cumbersome: Most growth-focused companies have no issues packing on the debt, but there are limits. If debt becomes too much to manage, a high-flying growth stock can quickly plummet.

Growth Stocks Will Find a Way Into Your Portfolio One Way or Another

Investing in growth stocks is in some ways inevitable. Even if you only purchase Target Date Funds in your 401(k), you’re getting in on the action. Most ETFs and mutual funds are composed of the most successful growth stocks in the market like Amazon, Apple, Google, Microsoft, Netflix and Facebook. But the key for truly successful investors is to find that next great growth stock before its CEO is plastered all over the covers of Forbes and Fortune. By looking at revenue growth numbers and potential market capture, you could find the next Amazon before its share price quintuples.

Ready to start investing? Check out Benzinga's top picks for the best online brokers for beginners, how to invest in dividend stocks and the best investing books.