Got $1,000? Buy These Hot Growth Stocks Before They Take Off
The stock market has witnessed a remarkable change in fortunes in 2023 following the beating it took last year amid surging inflation and interest rate hikes. Growth stocks have been big drivers of the recovery, surging as inflation has cooled and the Fed has slowed the pace of interest rate hikes. However, there are a few growth stocks that have dipped significantly of late for various reasons.
(NASDAQ: FTNT) and Super Micro Computer (NASDAQ: SMCI) are two such fast-growing companies that investors can lap up at cheaper multiples now. If you have $1,000 in investible cash after paying off your bills and high-interest loans and saving enough for an emergency fund, it may be a good idea to invest that money in these two stocks -- either separately or combined. Let's look at the reasons why.
A $1,000 investment made in Fortinet stock five years ago is worth about $3,300 at recent prices. Fortinet has been able to deliver such terrific gains thanks to the consistent growth in its top and bottom lines over the past five years, driven by the growing demand for the company's cybersecurity offerings.
Source Fool.com
Fortinet Inc. Stock
With 37 Buy predictions and 3 Sell predictions Fortinet Inc. is one of the favorites of our community.
With a target price of 69 € there is a positive potential of 29.53% for Fortinet Inc. compared to the current price of 53.27 €.
