Crashing Tech Stocks: Hidden Gems Amidst the Market Mayhem
4 Growth Stocks Down 20% or More to Buy Right Now
The stock market can be a rollercoaster, and sometimes even the best companies can see their shares plummet. But for savvy investors, this can be a golden opportunity to buy top-notch growth stocks at a discount. According to our research, these four growth stocks have seen their shares decline by 20% or more in the past three months. But we believe they're poised for a rebound and are worth considering for your portfolio.
- Shopify (NYSE: SHOP)
E-commerce powerhouse Shopify has seen its shares fall 24% over the past three months. But don't let that scare you off. The company's Q1 earnings report showed a 47% year-over-year increase in revenue, and its gross merchandise volume (GMV) rose 43%. With more and more consumers turning to online shopping, Shopify's position as a leading e-commerce platform makes it a compelling buy.
- Zoom Video Communications (NASDAQ: ZM)
Video conferencing leader Zoom has seen its shares decline 22% over the past three months. But the company's Q1 earnings report showed a 7% year-over-year increase in revenue, and its customer base continues to grow. With more companies shifting to remote work, Zoom's video conferencing platform is more essential than ever.
- DocuSign (NASDAQ: DOCU)
Electronic signature and document management leader DocuSign has seen its shares fall 26% over the past three months. But the company's Q1 earnings report showed a 40% year-over-year increase in revenue, and its customer base continues to grow. With more companies digitizing their workflows, DocuSign's platform is well-positioned for long-term growth.
- Peloton Interactive (NASDAQ: PTON)
Fitness equipment and subscription service leader Peloton has seen its shares decline 21% over the past three months. But the company's Q1 earnings report showed a 64% year-over-year increase in revenue, and its customer base continues to grow. With more consumers prioritizing their health and fitness, Peloton's platform is well-positioned for long-term growth.
These four growth stocks may have seen their shares decline in recent months, but we believe they're poised for a rebound. With strong fundamentals, growing customer bases, and essential products or services, they're worth considering for your portfolio. Just remember to do your own research and consider your own risk tolerance before making any investment decisions.