2 Growth Stocks Down 70% That Are Making a Comeback
Shares of Roblox (NYSE: RBLX) and (NYSE: CHWY) were punished for slowing revenue growth last year, but these former stars were never out of the race. These companies serve large markets that should lead to plenty of long-term growth.
On that note, Roblox and Chewy recently reported accelerating revenue to start 2023, and their stock prices are on the move again. Here's why you should consider buying these two growth stocks before better news sends them higher.
Following a slowdown in the gaming industry last year, Roblox has now posted three straight quarters of accelerating growth. In the most recent quarter, bookings -- a non-GAAP (adjusted) measure of revenue -- accelerated to a growth rate of 23% over the year-ago quarter, and the stock has responded, rising 40% year to date.
Source Fool.com
Chewy Inc Stock
The stock is one of the favorites of our community with 36 Buy predictions and 4 Sell predictions.
With a target price of 27 € there is a slightly positive potential of 14.24% for Chewy Inc compared to the current price of 23.64 €.
