3 Red-Hot Growth Stocks to Buy in 2023 and Beyond
Many investors have an understandable aversion to growth stocks that have become hits on Wall Street. That's because soaring optimism can be detrimental to your returns due to the rising valuation it brings. And the fact that companies frequently fall short of these elevated expectations boosts the risk that you'll purchase shares just before sentiment turns negative.
Yet some growth stocks are trendy for good reasons that extend beyond simply rising sales. Focusing on businesses that bring more to the financial party, including strong cash flow, market share, and profit margins, can limit your risk of overpaying for hype. Let's look at a few prime examples of popular growth stocks worth adding to your watchlist today.
It's not hard to see why Lululemon (NASDAQ: LULU) has bucked the negative stock-return trend in the retailing industry this year. The athleisure specialist last reported a blistering 20% second-quarter sales increase compared to the 2% uptick that Nike announced. That boost was partly due to its increasing store base, but Lululemon also achieved 9% higher sales at its existing locations.
Source Fool.com
Lululemon Athletica Inc. Stock
Our community is currently high on Lululemon Athletica Inc. with 92 Buy predictions and 6 Sell predictions.
Based on the current price of 215.6 € the target price of 453 € shows a potential of 110.11% for Lululemon Athletica Inc. which would more than double the current price.
