Growth stocks have experienced a tough time lately, thanks to the combination of inflationary issues and rumoured interest rate increases. However, although this appears to be negative at first glance, it also provides scope to invest in many of these exciting stocks whilst they are trading at a discount.
With that in mind, let’s discuss the top 5 growth stocks available in the market right now before highlighting where you can invest in these stocks today – with 0% commissions!
The Top 5 Growth Stocks to Buy Today
Presented below are our picks for the five best growth stocks UK, derived through in-depth research and analysis:
- NVIDIA (NASDAQ: NVDA) – Overall Best Growth Stock to Buy Today
- Shopify (NYSE: SHOP) – Top E-Commerce Stock with Incredible Potential
- Block (NYSE: SQ) – Leading FinTech Stock Available at a Discount
- Snowflake (NYSE: SNOW) – Exciting Growth Stock with Warren Buffet’s Backing
- Airbnb (NASDAQ: ABNB) – Best Growth Stock in the Travel Industry
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A Closer Look at the Top 5 Growth Stocks to Buy Today
Now that you’ve got a brief overview of what the best growth stocks are, let’s examine each of these companies in more detail:
1. NVIDIA (NASDAQ: NVDA) – Overall Best Growth Stock to Buy Today
Our number one pick when it comes to growth stocks is NVIDIA. NVIDIA is a multinational tech company that primarily focuses on producing GPUs. These GPUs are vital to many industries, such as gaming and electric vehicles, which has helped NVIDIA’s shares skyrocket over the past year.
Gaming revenue is one of the critical drivers of NVIDIA’s growth, which amounted to over $3.4bn during Q4 2021. Market analysts expect this area of NVIDIA’s business to continue multiplying, given the company’s massive market share and the overall outlook for the sector. Finally, NVIDIA has also dipped its toes into the crypto market with a specially-designed GPU for mining – adding another colossal revenue stream with long-term sustainability.
71.81 % of retail investor accounts lose money when trading CFDs with this provider.
2. Shopify (NYSE: SHOP) – Top E-Commerce Stock with Incredible Potential
Another exciting growth stock to consider is Shopify. Shopify is a huge e-commerce company that provides a proprietary platform for online stores to utilise. This platform makes selling goods and services online easy for entrepreneurs and handles all aspects of the business, such as payment processing, shipping, and customer engagement.
Shopify’s shares reached an all-time high of $1763 in November 2021, although they have since plummeted by around 67%. However, the company is still performing well financially, with revenue increasing by 41% in Q4 2021. In addition, gross merchandise volume and adjusted EPS increased compared to Q4 2020 – hinting that the stock may be undervalued at current levels.
71.81 % of retail investor accounts lose money when trading CFDs with this provider.
3. Block (NYSE: SQ) – Leading FinTech Stock Available at a Discount
Block, formerly called Square, is the financial services company co-founded by Jack Dorsey – the former Twitter CEO. The company offers a way for SMEs to facilitate payments and provides software for point-of-sale systems. In addition, Block is the company behind the super-popular Cash App, which is used for money transfers via mobile.
Like Shopify, Block’s shares have had a tough time recently, although the bearish momentum seems to have halted. The company’s recent earnings report noted that adjusted EPS and revenue both beat analyst estimates comfortably. Given that management has stated that they expect gross profits to rise every quarter this year, there is undoubtedly scope for Block’s shares to rebound in the months ahead.
71.81 % of retail investor accounts lose money when trading CFDs with this provider.
4. Snowflake (NYSE: SNOW) – Exciting Growth Stock with Warren Buffet’s Backing
Snowflake is a cloud-computing company that made headlines last year when it was announced that Warren Buffett had a private stake in the company. Snowflake offers data storage and analytics services, which have become increasingly in-demand given the rapid digitisation of many industries.
Shares are down by around 49% from November’s highs, providing scope for investors to purchase them at a discount. Full-year revenue more than doubled in Snowflake’s fiscal 2021, whilst the company also grew its number of high-revenue clients exponentially, which highlights the positive trajectory that Snowflake is on.
71.81 % of retail investor accounts lose money when trading CFDs with this provider.
5. Airbnb (NASDAQ: ABNB) – Best Growth Stock in the Travel Industry
Rounding off our list of the top growth stocks is Airbnb. Airbnb needs no introduction, as the lodging giant has become a crucial part of how people travel these days. Given the trend towards working from home, Airbnb has seen positive growth in key metrics.
During the COVID-19 pandemic, Airbnb cut costs drastically, which is paying off when it comes to net income. Furthermore, Airbnb’s revenue in 2021 was actually higher than the year before the pandemic – showcasing the tremendous growth experienced by the company in recent times.
71.81 % of retail investor accounts lose money when trading CFDs with this provider.
How to Buy the Top 5 Growth Stocks
If you’re looking to invest in any of the stocks mentioned above, we’d recommend creating an account with Alvexo.
Alvexo is an established CFD broker that offers 0% commissions and tight spreads on a vast selection of stocks from numerous major exchanges. In addition, Alvexo allows users to trade on their web-based platform or user-friendly mobile app – with full support for PayPal deposits!
If you’d like to buy stocks with Alvexo right away, presented below are the four quick steps to take in order to do so:
- Step 1 – Sign Up for an Alvexo Account: Navigate to Alvexo’s website and click ‘Sign Up‘. Provide your full name and email address before choosing a password for your account.
- Step 2 – Complete Account Verification: Complete Alvexo’s KYC checks and then upload photo ID (e.g. passport) and proof of address (e.g. bank statement).
- Step 3 – Deposit: Click ‘Deposit’ and enter how much you’d like to find your Alvexo account with. The minimum deposit amount is €500 (£419), which you can complete via credit/debit card, bank transfer, or e-wallet.
- Step 4 – Buy Growth Stocks: Search for the growth stock you’d like to invest in and click ‘Buy’. Enter your position size in the order box (denoted in lots) and click ‘Buy’ again to confirm your position.
Top 5 Growth Stocks to Buy Today – Conclusion
In conclusion, this article has discussed the top 5 growth stocks available in the market right now, providing you with the knowledge you need to make an informed investment decision.
If you’d like to invest in these growth stocks today, we’d recommend using Alvexo. Alvexo is a respected CFD broker that charges no commissions when placing a trade, as all fees are included in the broker’s tight spread. Furthermore, Alvexo is regulated by CySEC and employs strict security protocols to safeguard clients’ confidentiality.
71.81 % of retail investor accounts lose money when trading CFDs with this provider.
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