Growth stocks are a type of stock that represents a company with the potential for above-average growth. These companies are typically young and innovative, and their products or services are in high demand. Growth stocks are often associated with high risk, but they can also offer high rewards. For example, a company that is successfully able to bring a new product to market may see its stock price skyrocket.
However, if the product fails to meet customer expectations, the stock price may plummet. While investing in growth stocks can be risky, it can also be very lucrative. For investors who are willing to take on some risk, growth stocks can offer the potential for significant returns. Considering this, check out these growth stocks trending in the stock market today.
Growth Stocks To Buy [Or Avoid] Now
- Meta Platforms Inc. (NASDAQ: META)
- Adobe Inc. (NASDAQ: ADBE)
Meta Platforms (META Stock)
First, let’s look at Meta Platforms Inc. (META). The formerly named Facebook Inc. is an American multinational technology company. In brief, the company owns some of the most popular applications today such as Facebook, Instagram, and WhatsApp, on top of other products and services. Meanwhile, shares of META stock are down 19.14% during after-hours trading on Wednesday at $129.82. This is a result of the company releasing weaker-than-expected third-quarter 2022 financial results Wednesday after the stock market close.
Specifically, Meta Platforms reported Q3 2022 earnings of $1.64 a share, along with revenue of $27.7 billion. This was well below analysts’ consensus estimates, which were earnings of $1.88 per share, and revenue of $27.9 billion. In addition, Meta Platforms reported that it estimates Q4 2022 revenue to come in between $30 billion to $32.5 billion.
Mark Zuckerberg, Meta founder, and CEO commented, “While we face near-term challenges on revenue, the fundamentals are there for a return to stronger revenue growth. We’re approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company.“
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Adobe (ADBE Stock)
Next, Adobe Inc (ADBE) is an American multinational computer software company. It is one of the largest software companies in the world by revenue and market capitalization. Moreover, the company has historically focused on the creation of multimedia and creativity software products, with a more recent foray towards digital marketing software. Most notably, Adobe’s product line includes Adobe Creative Cloud, Adobe Photoshop, Adobe Illustrator, Adobe InDesign, and Adobe Premiere Pro, among other products and services.
In recent news, this week Adobe announced that it will work with U.S. Bank (NYSE: USB) to help enhance the personalization in regards to their digital and retail customer experiences. U.S. Bank will accomplish this by adopting Adobe’s Experience Platform, which helps deliver relevant and engaging user experiences online and offline.
Anjul Bhambhri, senior vice president at Adobe Experience Cloud, commented, “U.S. Bank is a leader in the financial services sector, setting an example as brands prioritize making the digital economy more personal. With Adobe Experience Platform, marketers at U.S. Bank can rally around a single view of the customer, driving an always-on personalization strategy that can evolve with consumer expectations and be in full compliance with strict industry rules and regulations.” Over the last five trading days, Adobe stock has rebounded 6.46%, closing out Wednesday at $320.48 a share.
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