Growth stocks are a type of stock that represents a company with above-average growth potential. These companies are usually young and innovative, and their products or services are in high demand. Growth stocks are often associated with high risk, but they can also offer high returns. For example, a company that successfully brings a new product to market may see its stock price soar.
However, if the product fails to meet customer expectations, the stock price may fall. Although investing in growth stocks can be risky, it can also be very lucrative. For investors who are willing to take risks, growth stocks can offer the potential for significant returns. Given that, check out these growth stocks that are trending in the stock market today.
Growth stocks to buy [Or Avoid] Now
First, let’s look Meta Platforms Inc. (META). Formerly Facebook Inc. is an American multinational technology company. In short, the company has some of the most popular apps today such as Facebook, Instagram, and WhatsApp, in addition to other products and services. Meanwhile, shares of META are down 19.14% in after-hours trading Wednesday at $129.82. That’s because the company on Wednesday reported weaker-than-expected third-quarter 2022 financial results after the market close.
Specifically, Meta Platforms reported Q3 2022 earnings per share of $1.64, along with revenue of $27.7 billion. That was well below analyst consensus estimates, which were earnings of $1.88 per share and revenue of $27.9 billion. Additionally, Meta Platforms reported that it estimates Q4 2022 revenue to be between $30 billion and $32.5 billion.
Mark Zuckerberg, Founder and CEO of Meta, commented:Although we face near-term revenue challenges, the fundamentals are there for a return to stronger revenue growth. We approach 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and become an even stronger company.“
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Adobe (ADBE Stock)
Next, Adobe Inc. (ADBE) is an American multinational computer software company. It is one of the largest software companies in the world by revenue and market capitalization. Additionally, the company has historically focused on creating multimedia and creativity software products, with a more recent foray into digital marketing software. Specifically, the Adobe product line includes Adobe Creative Cloud, Adobe Photoshop, Adobe Illustrator, Adobe InDesign, and Adobe Premiere Pro, among other products and services.
In recent news this week, Adobe announced that it will be working with US Bank (NYSE: USB) to help improve personalization when it comes to their digital and retail customer experiences. US Bank will achieve this by adopting Adobe’s Experience Platform, which helps deliver relevant and engaging user experiences both online and offline.
Anjul Bhambhri, senior vice president of Adobe Experience Cloud, commented:US Bank is a leader in the financial services industry, leading by example as brands prioritize personalization in the digital economy. With Adobe Experience Platform, US Bank marketers can rally around a single view of the customer, driving an ongoing personalization strategy that can evolve with consumer expectations and be in full compliance with stringent rules and regulations. of the sector.“Over the past five trading days, Adobe stock has rebounded 6.46%, closing Wednesday at $320.48 per share.
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