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Top 3 Hot Growth Stocks To Buy Right Now

5 Min Read
Last Updated March 27th 2021

The best way to earn life-changing wealth in the stock market, without a second thought, is investing in growth stocks.

Being the beneficiaries of outsized gains, businesses that tend to grow faster in the market deliver handsome returns to shareholders. Therefore, the faster their growth, the bigger the returns are. When it comes to choosing the best stock to buy right now, investors are a bit puzzle

Best Stocks To Buy Right Now For The Long Haul

Choosing the best stocks ceases to be a pain in the neck for you. With detailed research and analyzing bullish trends, we have created a list of three hot growth stocks that are expected to have long-term growth. 

#1: Palantir Technologies (PLTR)

Palantir Technologies is a unique data mining company that aims to augment human intelligence rather than replacing it.

This technology-based company provides data analytics software to high-profile government clients, including the FBI, CIA, and Department of Homeland Security. This shining new growth stock went public through a direct listing on the 30th of September.

Since the day of its debut, the PLTR stock is up by almost 250%. Palantir is a unique software company. It examines large amounts of data that is used for uncovering hidden patterns and helps in informing decision-making.

With digital transformation and the inherent complexity in the economy, analysts predict that the market for companies like Palantir will expand at a compound annual growth rate(GAGR) of 12.3% by a as 2027. 

With a mission to help businesses maximize a large amount of data, Palantir has recently partnered with the technology firm IBM to create a hybrid cloud data platform. This platform, known as "Palantir for IBM Cloud Pak," is expected to have use cases from finance to telecommunication, making it a high potential venture.  

PLTR is the best stock to buy right now because it is expanding its boundaries by experimenting with its product offerings and pricing tiers to reach a broader audience. Initially, the focus was merely on landing large enterprise customers. With its distinctive technology and new advancements, PLTR has the potential to grow into a much larger business, making it a feasible option for investors. 

#2: Zynga (ZNGA)

The global pandemic might have been a stagnant year for most businesses. But the best beneficiary of the lockdown period was the mobile gaming developer Zynga.

People eschewed most forms of public entertainment platforms, which eventually increased the demand for gaming. Therefore, Zynga has posted strong sales growth over the recent years and has a plethora of space for growth in the coming years too. 

Because of its iconic Facebook games like Farmville and Words with Friends, Zynga is overtly popular among retail investors.

With smartphones and technology paving their way into our daily lives, this mobile game developer is expected to expand at a CAGR of 14% within 2025.

Over the past few years, Zynga's user base has expanded from 53 million MAU's (Monthly Active Users) in 2016 to 83 million by the end of its third-quarter in 2020. 

With its acquisition-driven strategy that involves scooping up fast-growing independent studios, Zynga has an increased demand within the video game industry. In addition to this, it has also bought the Turkish developer Peak Games, the makers of the popular game Candy Crush for $1.8 billion, and hyper-casual game maker Rollic for $180 million in 2020. 

These valuable assets will help Zynga in achieving its revenue guidance of $2.6 billion in 2021, making it one of the best stocks to buy right now. Considering its growth and technology, ZYNG has more room for potential growth in the coming years.

#3: Tesla (TSLA) 

Thanks to all its retail investors, Tesla had surged over 700% in 2020.

In terms of its value, Tesla is now the world's largest automaker and a potential leader in the automotive business's fast-growing industry. With its index-beating returns in 2021, investors are curiously waiting for yet another year of record production figures from Tesla, making it one of the best stocks to buy right now. 

In 2019, Tesla sold more than 367,500 cars, which is almost 18% of the global EV sales. Amidst the disruptive effects of COVID-19, Tesla managed to deliver around 499,550 cars, an increase of 36% compared to the previous year. This is why investors see a bright future for Tesla in terms of growth and returns. 

By closing 2020 with a stronger quarter, the management team at Tesla says that they expect more scope of deliveries and production in the coming future. Analysts say that according to an estimate calculation, by 2029, Tesla will acquire an annual selling rate of 3.6 million light vehicles, which is remarkable. 

With Models S and X in the pipeline, Tesla has taken a big step and has undertaken a huge manufacturing expansion. The whole team is dedicated to a mission of building over 20 million electric vehicles a year over the next decade, which is going to drive record-breaking revenue for this valuable stock. 

Check Out: Tesla Stock Price Prediction For 2021 And Beyond

Conclusion

With their strong technology and riveting expansion strategies, these three companies have the potential to deliver market-beating growth over the coming years.

The key to success in the stock market is to invest in such fast-growing stocks and reap good returns in the future.

Growth stocks like these have the potential to keep up their value for many decades and are the best stocks to buy right now to live your millionaire dreams. 

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