Biontech Stock – Best Growth Stocks To Buy In April 2021? 4 Names To Watch
Will These Top Growth Stocks Climb Next Month?
Investors looking for growth stocks will need to search far and wide for stocks that are outperforming the broader market consistently. Admittedly, the stock market’s recent decline propelled by rising Treasury yields, inflation concerns, and tech sell-off may present challenges for investors to locate top growth stocks to buy.
With many investors speculating that a stock market crash is imminent, the recent dip in the market may strengthen their belief. Although the valuation concerns may be valid, investors must also note that some of the skyrocketing stock prices are justifiable. Over here, I’m referring to stocks like Chewy Inc. (NYSE: CHWY) and Lululemon Athletica (NASDAQ: LULU) that have solid fundamentals and a positive long-term outlook. And not companies with good stories to tell but lack fundamentals.
The thing with finding growth stocks to buy may not be straightforward as it seems, as growth stock can be found in any industry. The great news, however, is that you don’t have to allocate a big proportion of your savings to start investing in the stock market today. And whenever you’re ready to allocate some funds into the stock market, would these growth stocks be great investment options right now? Let’s find out.
Top Growth Stocks To Watch This Week
Palantir Technologies Inc.
First up, Palantir is a company that builds and deploys software platforms for enterprises in the U.S. and globally. These include the U.S. Army and the UK. National Health Service. Through COVID-19, Palantir has been seeing higher traction from the public health space. Its services have been used to track COVID-19 data from hospitals and to trace the spread of the virus. Given its enviable base of clientele, it is not surprising investors are watching PLTR stock closely. Having lost over 40% in market value since the start of February, some investors may be looking to buy PLTR stock on dips.
Source: TD Ameritrade TOS
From its most recent quarter, the company reported sales of $322 million and adjusted earnings of $0.06 per share. This is higher than Wall Street’s projections of $300 million in revenue and earnings of $0.02 per share. In anticipation of such results coupled with the strong hype on social media, Palantir stock skyrocketed to its all-time high of $45 per share before retreating to the current level. While the tech sell-off may have contributed to the recent weakness in PLTR stock, it is worth noting that the lockup period was also lifted in the past month.
All in all, Palantir remains an attractive investment because the company continues to build a book of contracts. As the company expands, shareholders could be looking at respectable long-term rewards. If you believe in the long-term potential of PLTR stock, you could be looking at a stock to buy and hold for the years to come.
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Coming up next, BioNTech needs no introduction as it partners with Pfizer (NYSE: PFE) for its COVID-19 vaccine. The company is one of the stocks making big moves on Tuesday’s intraday trading. This came after the German biotech announced its fourth quarter and full-year 2020 results. From the report, revenue came in at 354.4 million euros. This result reflected a huge 1,134% year-over-year increase. And that’s not all, the company’s bottom line also improved dramatically. To put things into context, BioNTech announced a net profit of 366.9 million euros in the fourth quarter, while the same period last year saw a net loss of 58.2 million for the company.
(BNTX)-stock.jpg” alt=”best growth stocks to buy ((BNTX) stock)”/>Source: TD Ameritrade TOS
It’s no secret that its fourth-quarter was all about its vaccine candidate BNT162b2. The company currently shares its net profits equally with Pfizer for sales of the vaccine globally, except in China. If we are to look closely, its Q4 result yesterday may just be the tip of the iceberg. Why? The company expects to generate revenue of around 9.8 billion euros from the current supply deals for BNT162b2, which total roughly 1.4 billion doses.
In addition, the company is also reportedly working on a third booster to increase efficacy against the South African variant. With the company continuing to move forward, could (BNTX) stock be a top growth stock to watch right now?
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One way to capitalize on momentum trading is to bet on stocks in industries that are heating up, and DraftKings is one of them. The company’s strong growth rate and digital-only business model help set it apart from its traditional brick-and-mortar casinos. Admirably, DKNG stock has been relatively steady when the market continues to exhibit signs of weaknesses. Perhaps it was the strong quarterly report followed by a series of price upgrades from investment banks that strengthened its stock price level.
Source: TD Ameritrade TOS
If that wasn’t the case, Cathie Wood’s optimism in DKNG stock was another catalyst for the company. ARK Invest, which focuses on disruptive companies, is highly optimistic about what DKNG has to offer. After all, national online gambling is growing at a rate of 13.2% annually and more states are aiming for legalization.
There are good reasons to believe that DKNG stock has more room to grow in the long run. If you are bullish on the online gaming niche, then DKNG stock is your possible bet among the hyper-growth companies.
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Last on the list, Coupang Inc. is a high-profile recent IPO stock to watch. It was the largest foreign company offering since Alibaba (NYSE: (BA)(BA)) came public in 2014. The South Korean company saw its share price skyrocketed 41% higher on its first day of trading. For those unfamiliar, the company made a name for itself through its guaranteed same-day or next-day delivery service. While CPNG stock has retreated from its all-time high of $69 per share, the stock appears to be showing signs of recovery this week. So, what happened?
Source: TD Ameritrade TOS
CPNG stock price jumped after SoftBank Group Corp CEO Masayoshi said the conglomerate is considering bringing services like Coupang to Japan. If you are only reading the headline, then you might have missed the details. To be clear, this is not to say that Coupang is launching in Japan, Rather, it is about having a service similar to Coupang in Japan. Nevertheless, as Coupang slowly snaps up market shares in South Korea, does it make sense to be bullish on CPNG stock in the long run?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.