Growth stocks have dominated Wall Street since the recession ended more than twelve years ago. The combination of historically low borrowing rates and an extremely accommodating Federal Reserve has allowed fast-growing companies to borrow cheaply. Here's how rapid growth was possible.
But for some growth stocks, the road to the top is just now beginning. Allowing for the fact that Wall Street's consensus estimates are subject to change, the following four companies are projected to see revenue growth between 509% and 3.324 % expected. This makes them one of the fastest growing stocks in the world.
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Novavax: Expected revenue growth of 711% through 2024
The first stock with insane revenue growth potential is biotech stock Novavax (WKN: A2PKMZ ). After the company reported sales last year of 475.6 million. US dollars, Wall Street expects annual sales by 2024 to reach nearly. U.S. dollar (consensus).
NVX-CoV2373 vaccine against COVID-19 is a big seller for Novavax. Although there's more to a COVID-19 vaccine than headline vaccine efficacy (VE), Novavax has been able to achieve VEs of 89.7% (U.K. study) and. 90.4% (U.S. and Mexican study convincing. These impressive stats should help Novavax displace the seemingly less effective COVID-19 vaccines from Johnson & Johnson and AstraZeneca to become the No. 3 COVID-19 vaccine maker in the world.
The big hurdle for Novavax so far has not been efficacy, but execution. Concerns have been raised about the purity of the vaccines being produced. In addition, Novavax shareholders have had to endure numerous delays in applying for emergency use authorizations (EUAs) in key markets. The good news is that management finally seems to be overcoming these hurdles: NVX-CoV2373 received its first EUA in Indonesia less than two weeks ago, and the company filed for tentative approval in Australia, Canada, and New Zealand.
What investors should really keep an eye on is the company's combination vaccine development program. Novavax working on flu and COVID-19 vaccine combination that could potentially launch ahead of competition. If Novavax continues to lead in innovation, the stock could be an absolute bargain at its current valuation.
Jushi Holdings: expected revenue growth through 2024 of 1.023 %
It should surprise no one that U.S. cannabis stocks are on track to be among the fastest-growing companies through 2024. The U.S. is the epicenter of the legal cannabis market.
Small-cap multi-state operator (MSO) Jushi Holdings (WKN: A2PMFM ) is looking to capitalize on this rapid growth. FactSet estimates that Jushi's revenue will increase from 80.8 million. US dollars in 2020 to 907 million. US dollar will rise in 2024.
For now, Jushi is still a small player. The company has recently increased its 26. Sales outlet opened, which is little compared to some US competitors. Jushi, however, has a good plan to grow the business.
The key to this company's success is its focus on cannabis markets with limited licenses. In particular, Jushi should get most of its revenue from Virginia, Pennsylvania and Illinois. Aside from the fact that all three markets have billions of dollars in annual sales potential (Illinois has already surpassed the $1 billion mark in annual cannabis sales in 2020), they all restrict retail licensing.
Illinois and Pennsylvania limit the number of dispensing sites in operation and the number of licenses an individual business may hold. Virginia, on the other hand, issues licenses by jurisdiction. The point is that regulators are intentionally limiting competition. This gives Jushi a good opportunity to build its brands and gain a loyal following.
In addition, despite its small size, Jushi's management has prudently deployed some of the company's capital to acquire pharmacies in attractive markets. Soon Jushi will have a store in Las Vegas, Nevada, and earlier this year the company bought into Southern California. California is the largest cannabis market in the world by annual revenue.
Zogenix: expected sales growth by 2024 of 3.324 %
Novavax isn't the only biotech stock whose sales are expected to soar through 2024. Small-cap drugmaker Zogenix (WKN: A14V7E ) is expected to increase its annual sales from 13.6 million. U.S. dollars in 2020 to an estimated 467 million. Increase U.S. dollars in 2024 – an increase of more than 3.300 %.
Zogenix's main revenue driver is Fintepla, a drug currently approved by the Food and Drug Administration (FDA) to treat a rare form of childhood epilepsy called Dravet syndrome. Fintepla's net sales to September 2021 exceeded 51 million. US Dollar.
The real key to this tremendous sales growth, however, is that Zogenix is expanding Fintepla's field of application. Last quarter, the company submitted a supplemental New Drug Application to the FDA to include Lennox-Gastaut Syndrome (LGS). LGS is another rare form of childhood epilepsy.
Recently published interim results from the ongoing open-label Phase 3 study of Fintepla for LGS patients showed a median seizure reduction of 39.4% at three months and 51.8% for patients treated between 10. and 12. Suffering from illness before the age of. In other words, Fintepla seems to have a good chance of having its approval extended in 2022.
The biggest question mark for Zogenix is how it will fit into the Dravet/LGS space. Cannabinoid-focused drugmaker GW Pharmaceuticals, acquired by Jazz Pharmaceuticals, has beaten Zogenix to market with Epidiolex. Given that there have been few targeted treatments for Dravet/LGS patients, the two companies could coexist. But only time will tell.
Coinbase Global: expected revenue growth of 509% by 2024
A fourth and final company that qualifies as one of the fastest-growing stocks in the world through 2024 is cryptocurrency exchange and digital ecosystem Coinbase Global (WKN: A2QP7J ). Coinbase, which went public earlier this year, reported 2020 revenue of 1.28 billion. US dollar. By 2024, the company is expected to grow annual revenue from nearly 7.8 billion. Earn US dollars.
Coinbase's rapid growth is due to the fact that it is the preferred platform for trading and investing in cryptocurrencies. Between the third quarter of 2020 and the third quarter of 2021, the number of monthly transacting users more than tripled to 7.4 million, while assets held on the platform of 36 billion. US dollars to 255 billion. US dollar has risen. As long as Coinbase's main revenue streams continue – Bitcoin and Ethereum – the company has a good chance of remaining highly profitable.
However, of the four high-growth companies listed here, Coinbase is the stock with the most risk. That's because Coinbase is too dependent on revenue from the two major cryptocurrency companies, and investor sentiment can change abruptly.
And while Coinbase has more than 73 million verified users, it wouldn't be difficult for a competing platform to undercut the fees it charges. We've watched these price wars erode the earnings potential of traditional brokerage firms on Wall Street. The same fate should probably await Coinbase as well.
I expect we'll see those revenue expectations for 2023 and beyond shrink in the coming months and years.
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Sean Williams owns shares of Jushi Holdings. The Motley Fool owns and recommends Bitcoin, Ethereum, FactSet Research Systems and Jushi Holdings. The Motley Fool recommends Johnson & Johnson. This article appeared on 11.11.2021 on Fool.com and has been translated for our German readers.
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