3 Top Growth Stocks That Are Best To Buy Now

Last Updated July 23rd 2021
7 Min Read

It's still not late for investors to try their hands in the top growth stocks in the market today. Even after the big market run-up in 2020, some of the popular tech stocks are still not overbought, and investors have a good opportunity to invest in these growth stocks right now.

Investing in growth stocks has its benefits. Fundamentally the aim is to secure a wealthy future for the long haul. They increase their revenue faster than average businesses in the market, making it the best long-term investment. Here are the three best stocks to buy right now for a secured future. 

 

Top Growth Stocks That Are Best To Buy Now

Some of the best growth stocks remain a lucrative field for investors and are well deserving of their premium prices. Here is a closer look at the best three growth stocks in the market today to help you out on which stock to buy now for a profitable return.

#1: Twilio (TWLO)

With impressive customer care metrics, Twilio, the cloud-based communication specialist is soaring to new heights. Leveraging machine learning, cloud computing, and mobile apps, Twilio help businesses interact with their customers daily. In the wake of the global pandemic, the world completely became digital. Therefore, cloud-computing platforms like Twilio have grown more bullish as people shifted from physical contact centers to cloud-based platforms. Thanks to the big spike in its revenue share, specialists for Twilio have more than tripled. 

Despite generating less than $2 billion in trailing- 12-month revenue, Twilio has boasted almost a $70 billion market capitalization. Its revenue grew 57% in the first quarter, 46% in the second quarter, and 52% in the third quarter of 2020. With a 65% up in the fourth quarter, Twilio has reported a revenue of $548.1 million, making it one of the best stocks to buy now. 

As of September, Twilio had 208,000 active customer accounts, which increased to a total of 221,000. Thanks to its strong customer growth and drastic improvement, Twilio's momentum has fueled a significant increase with its top-line growing 59% year-by-year. Highlighting its momentum, Twilio's co-founder and CEO, Jeff Lawson said that, "the tech company is capitalizing on a "generational opportunity." 

With a diversified customer base and sharp, high rise in its fourth quarter, the stock has enough space for its growth in the long haul. Twilio is also spending quite a good amount on back-office processes, sales, and marketing, intending to target new opportunities. Investors can have a chance of getting good returns as Twilio is poised for more growth and opportunities in the coming future.

#2: Facebook (FB)

Facebook, the social media giant, has had an epic run since its public exposure in 2012. The past few years were a tough time for Facebook with privacy-related issues, political, and several legal issues that even the media took over. But amidst all these challenging times, Facebook generated a net income of $17.9 billion over the first three quarters of 2020. Facebook has been highly profitable, with a revenue of 57.9 billion by the end of its third-quarter in 2020. 

The massive global addition to its active subscribers has fueled Facebook's shares to surge nearly 450%. Despite all the controversies surrounding Facebook, its monthly average user count increased almost 14% from a year ago. This makes it one of the wealthiest organizations and one of the best growth stocks with plenty of opportunities for investors. 

Facebook and its subsidiaries, Instagram and WhatsApp, remain popular as ever, with consumers voting for their time and dollars. The company has almost 2.6 billion daily active users across its family of social networks that include Facebook, Messenger, WhatsApp, and Instagram. And in the coming years, this userbase is expected to grow dramatically with digital transformation. Facebook drives half of its profit from ads in this digital advertising landscape and the growth of its virtual reality business, Oculus. 

With a rich active user base and a lucrative business in the market, Facebook is poised to a premium-price stock with a profitable long-time value. If you are looking for a growth stock that could make you a fortune in the long haul, this is it. 

#3: Tesla (TSLA)

With the increase in its sales and revenue over the past few years, Tesla has an eye-popping value in the market today. It is one of the best stocks to buy now because it is the world's largest automaker by value. Even amidst the pandemic, Tesla's revenue has shown a significant rise. It is a stock that has sufficient space for growth in the coming years and hope for investors. 

As mentioned in the Morningstar US Market Index, Tesla is the sixth-largest company by equity market capitalization with a market value of $825 billion. It has a record number of both production and deliveries over the past years, which has made Tesla the largest car company in the world. The company almost came close to delivering 499,647 products across the globe. 

The management team at Tesla sees more scope for deliveries in the coming future. Tesla has closed 2020 with a stronger quarter and thus is an excellent addition to your investment portfolio. Estimates say that auto sales of Tesla will grow from a half-million in 2020 to an annual selling rate of 3.6 million light vehicles in 2029. 

There is hope for growth in the market value of Tesla with its current production and sales rate. By announcing the delivery of 189,750 electric vehicles in the fourth quarter, Tesla has prolifically set a new quarterly record and remains one of the best growth stocks in the market today. 

Don’t Miss: Tesla Stock Price Prediction For 2021 And Beyond

Best Stocks To Buy Now: In Conclusion 

The stock markets are bouncing back with double strength as the pandemic's aftereffects are settling down slowly. It is the best time to invest your hard-earned saving in growth stocks because they have a potential hope for good future returns. The above three stocks have shown a certain business momentum, strong historical revenue, and potential long-term growth, which makes them the best stocks to buy now and for the foreseeable future.

eToro - Buy stocks with 0% Commission

etoro broker

eToro have proven themselves trustworthy within the stock market over many years – we recommend you try them out.

Your capital is at risk. Other fees may apply

Check Out:

9‌ ‌Stocks‌ ‌That‌ ‌Could‌ ‌Make‌ ‌You‌ ‌A‌ ‌Millionaire

Top 15 Stocks Will Explode In 2021

5 Unstoppable Stocks At All-Time Highs That You Can Still Buy

7 Top Long-Term ‘Millionaire-Maker’ Stocks To Buy In 2021

Top 10 British Shares To Consider For 2021 

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.