For the uninitiated, growth stocks are stocks that are expected to outperform the market or their industry peers in terms of growth. These stocks have the potential to provide investors with significant capital appreciation over the long term. Growth stocks are available in many industries, including technology, healthcare, and consumer goods.
Investing in growth stocks can allow investors to potentially profit from the growth of innovative and disruptive companies at the forefront of their respective industries. However, it is critical to consider various factors that may influence the stock’s performance, such as industry trends, economic conditions, and company-specific factors such as financial health and management.
Overall, investing in growth stocks can provide investors with the opportunity to generate significant long-term returns. To manage risk, do your research, and carefully evaluate the risks and opportunities. By doing so, investors can make informed decisions and potentially achieve their investment goals. Investing in growth stocks necessitates a long-term perspective and a tolerance for higher volatility, as these stocks may not always outperform the broader market. With that said, here are two growth names to watch in the stock market today.
Growth Stocks To Buy [Or Sell] In March 2023
- lululemon Athletica Inc. (NASDAQ: LULU)
- Meta Platforms Inc. (NASDAQ: META)
lululemon Athletica (LULU Stock)
To start, Lululemon Athletica Inc. (LULU) is a Canadian apparel company that specializes in athletic and athleisure clothing. With a focus on high-quality products and a loyal customer base, LULU has continued to expand its offerings and provide innovative and stylish apparel options to customers worldwide.
Back in December 2022, lululemon athletica reported its 3rd quarter 2022 financial and operating results. Specifically, in the quarter LULU announced earnings of $2.00 per share, with revenue of $1.9 billion. As a result, revenue increased by 28% versus the same period, the previous year. Meanwhile, the company said it anticipates Q4 2022 earnings between $4.20 to $4.30 per share and revenue estimates of $2.605 billion to $2.655 billion.
Moving along, since the start of 2023, shares of LULU stock have dropped by 3.83%. While, off the open on Wednesday morning, LULU stock is trading slightly higher so far by 0.52% at $310.82 per share.
[Read More] Dividend Stocks To Buy Now? 3 For Your Watchlist
Meta Platforms (META Stock)
Second, Meta Platforms Inc. (META), formerly known as Facebook, is a social media and technology company that operates a range of platforms, including Facebook, Instagram, WhatsApp, and others.
At the beginning of last month, Meta released its Q4 2022 and full-year 2022 financial results. Getting right into it, the company reported better-than-expected 4th quarter 2022 results. They notched in an EPS of $3.00 versus analysts’ estimates of $2.12 per share. While revenue came in at $32.2 billion for the quarter, versus estimates of $31.8 billion. In addition, Meta also said that estimates Q1 2023 revenue to come in between the range of $26 billion to $28.5 billion.
Year-to-date META stock has recovered by 41.12% so far. Meanwhile, during Wednesday morning’s trading session, shares of META stock opened higher by 0.74%, trading at $176.24 per share.
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