10 Best Vegan Stocks to Buy According to Analysts

3. Laird Superfood, Inc. (NYSE:LSF)

Analyst Upside: 117.39%

Number of Hedge Fund Holders: 6

Laird Superfood, Inc. (NYSE:LSF), along with its subsidiary, Picky Bars, LLC, is a consumer products platform company that manufactures and markets plant-based and functional foods. Its core Laird Superfood platform encompasses Creamer coffee creamers, harvest snacks, functional roasted and instant coffees, teas, hot chocolate, and Hydrate hydration products and beverage-enhancing supplements.

2024 was a transformational year for the company in its development into a high-growth premium brand with strong margins and unlimited potential. It attained 27% top-line growth in 2024, with net sales reaching $43.3 million, up from $34.2 million in 2023. Net sales in fiscal Q4 2024 grew to $11.6 million, a 26% increase over fiscal Q4 2023. This growth rate significantly surpassed the consumer goods and food industry averages, where top-line growth stands at around 3% to 5% annually.

Laird Superfood, Inc. (NYSE:LSF) maintained gross margins at nearly 41% for 2024, reflecting a roughly 11-point leap from the 30.1% it reported for 2023. This growth was attributed to strategic sourcing, a shift to a variable cost manufacturing model, and disciplined trade spend management. The company ranks third on our list of the 10 best vegan stocks to buy according to analysts.