S&P 500   5,123.41
DOW   37,983.24
QQQ   438.27
Stock market today: Wall Street falls sharply to close out its worst week since October
5 Semiconductor Giants: Navigating the Recent Pullback
2 Stocks to Buy on The Dip: One a Value, the Other High-Yielding
Breakout Alert: Coinbase's Consolidation Is About To End
Closing prices for crude oil, gold and other commodities
3 Key Stocks Helping to Drive the EV Race
You Can Follow BlackRock’s Market View for Your Money
S&P 500   5,123.41
DOW   37,983.24
QQQ   438.27
Stock market today: Wall Street falls sharply to close out its worst week since October
5 Semiconductor Giants: Navigating the Recent Pullback
2 Stocks to Buy on The Dip: One a Value, the Other High-Yielding
Breakout Alert: Coinbase's Consolidation Is About To End
Closing prices for crude oil, gold and other commodities
3 Key Stocks Helping to Drive the EV Race
You Can Follow BlackRock’s Market View for Your Money
S&P 500   5,123.41
DOW   37,983.24
QQQ   438.27
Stock market today: Wall Street falls sharply to close out its worst week since October
5 Semiconductor Giants: Navigating the Recent Pullback
2 Stocks to Buy on The Dip: One a Value, the Other High-Yielding
Breakout Alert: Coinbase's Consolidation Is About To End
Closing prices for crude oil, gold and other commodities
3 Key Stocks Helping to Drive the EV Race
You Can Follow BlackRock’s Market View for Your Money
S&P 500   5,123.41
DOW   37,983.24
QQQ   438.27
Stock market today: Wall Street falls sharply to close out its worst week since October
5 Semiconductor Giants: Navigating the Recent Pullback
2 Stocks to Buy on The Dip: One a Value, the Other High-Yielding
Breakout Alert: Coinbase's Consolidation Is About To End
Closing prices for crude oil, gold and other commodities
3 Key Stocks Helping to Drive the EV Race
You Can Follow BlackRock’s Market View for Your Money

3 Growth Stocks Gearing Up for More Gains

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g class="alignleft" src="https://www.marketbeat.com/logos/articles/small_Depositphotos_233598072_s-2019.jpg" alt="3 Growth Stocks Gearing Up for More Gains" width="660" height="408" />Even though the overall market has been flashing some warnings signs lately, that shouldn’t keep investors from initiating positions in quality growth stocks with strong upside potential. It’s been interesting to track the names that have held up the best during the last few weeks of market weakness, particularly since keeping a keen eye on stocks with relative strength can provide hints about their potential to rally in the future.

While some of the big winners in the growth space from last year haven’t been able to replicate their strong performance in 2021, new leaders are constantly emerging and delivering outperformance for investors that are paying attention. There are a few growth stocks at the moment that seem poised to provide significant alpha in the coming weeks, especially if we get an end-of-the-year rally. The bottom line is that it’s always a good idea to keep an eye on standout names in the growth space and learn a little bit about what makes their businesses unique, which is why we’ve put together a list of 3 growth stocks gearing up for more gains below.

dLocal Ltd (NASDAQ: DLO)

dLocal is an Uruguay-based company that has developed an intriguing all-in-one payment platform that connects global merchants to emerging markets. When you stop to consider how difficult it can be for companies to do cross-border transactions in less developed areas of the world like Latin America, it’s easy to recognize why dLocal’s platform has so much potential. The company’s cloud-based payment platform helps merchants to reach billions of customers, accept payments, send payouts, and settle funds globally by eliminating some of the complexities of cross-border payments which include currency conversion and frequently changing local laws and regulations.

This is a very attractive growth stock given how its platform is appealing to almost any business looking to offer its products and services in emerging markets. The company’s key verticals include retail, streaming, ride-hailing, financial institutions, advertising, SaaS, travel, gaming, and more, and the dLocal already counts high-profile names like Amazon, Uber, Tripadvisor, and Nike among its customers. The company delivered very strong Q2 results including revenues of $59 million, up 186% year-over-year, and $1.5 billion in total payment volume, up 319% year-over-year, which confirms that global merchants are becoming increasingly interested in what dLocal's platform has to offer.

Anaplan (NYSE: PLAN)

Next up is Anaplan, a company that provides cloud-based business planning and forecasting used to help its customers achieve productivity gains and cost savings. What sets Anaplan apart in a sea of cloud software companies is the fact that it is considered to be the industry leader in Enterprise Performance Management, which is an area of the software space that can lead to massive improvements in the financial performance of a business. The company’s platform can also solve issues that are related to traditional enterprise planning tasks such as manual data entry on Excel, which can help businesses to avoid costly errors.

Anaplan should benefit from an increase in enterprise IT spending as companies gain more confidence that the negative impacts of COVID-19 are subsiding, which is another reason to consider adding shares. Anaplan recently reported Q2 subscription revenue of $130.8 million, up 34.6% year-over-year, and boosted its total revenue guidance for fiscal 2022. It’s clear that Anaplan’s management is happy with the direction of the company, and it’s a growth stock that provides a great opportunity to capitalize on the ongoing digital transformations of companies all over the world. 

Snapchat (NYSE: SNAP)

This burgeoning social media company delivered impressive earnings results last quarter, yet the stock really hasn’t done much since the release. That could be changing soon, as Snapchat has consolidated for a few months and could finally be on its way towards a breakout. If you aren’t familiar with Snapchat, it’s a social networking site that allows users to post, view, and interact with videos and still images. There’s a lot to like about how attractive the company’s network is for advertisers, particularly since Snapchat is a platform that tends to appeal to a younger demographic.

Additionally, the rollout of 5G networks around the world should only help to increase Snapchat’s global reach. The company posted strong daily active user growth and revenue growth in Q2, which rose 23% and 116% year-over-year, respectively. Snapchat might just be the best social media growth stock out there, and a move over previous intraday all-time highs of $80.85 could help to ignite a rally.
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Should you invest $1,000 in Snap right now?

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Snap (SNAP)
3.2465 of 5 stars
$10.85-4.5%N/A-13.07Hold$13.70
Anaplan (PLAN)
0 of 5 stars
$63.73flatN/A-44.88N/A
DLocal (DLO)
3.2708 of 5 stars
$15.97-2.3%N/A32.59Hold$19.78
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