In this article we discuss the top 5 high growth stocks to buy in 2021. If you want to read our detailed analysis of the great stocks to buy this year, go directly to Top 10 High Growth Stocks To Buy in 2021.
5. Tencent Holdings Ltd. (OTC: TCEHY)
Tencent Holdings Ltd. (OTC: TCEHY) is a Shenzhen-based multinational technology firm specializing in internet-related services. It offers products in entertainment, artificial intelligence and other technologies. The company was founded in 1998 by a group of Chinese businessmen. American publication Bloomberg reports that Tencent is the largest video game vendor in the world. It operates a social network, a music service, a web portal, mobile and video gaming firms, as well as e-commerce and smartphone companies.
Tencent has a market cap of $800 billion, making it one of the most valuable companies in the world. It posted a revenue of close to $74 billion in December 2020. Tencent shares have continued to hold steady even after the regulatory scare that has affected other Chinese firms. The stocks of the firm had a strong 2020, closing on a 32% year-over-year growth in value-added services. The online advertising witnessed a growth of 20%. The firm also posted 26% growth in the digital payments and business services section. Shares in the firm have high-growth potential this year.
4. Docebo Inc. (NASDAQ: DCBO)
Docebo (NASDAQ: DCBO) is a Canadian software firm offering learning management systems to companies around the world. It was founded in 2005 by Claudio Erba who still leads the company. The software that the company markets makes it easier for businesses to organize their learning around digitally, thereby significantly reducing the costs of instructor-led courses. In March 2020, the stocks of the firm fell to their lowest ever before rebounding and gaining 650% by the end of the year. Docebo is a growth stock worth buying for investors.
The company has a market cap of close to $2 billion and reported more than $18 million in revenue in December 2020. Last month, the company announced a partnership with Amazon Web Services that led to an increase in stock price. The earnings report of the company from the fourth quarter of 2020 detailed that subscription revenue accounted for more than 89% of total revenue and had appreciated 49% compared to the previous year. The consistency of the share prices indicates that Docebo stock is one slated for growth in 2021.
3. Microsoft Corporation (NASDAQ: MSFT)
Microsoft Corporation (NASDAQ: MSFT) is a Washington-based multinational firm that sells computer software, consumer electronics, and other internet-related services. The company was founded by Bill Gates and Paul Allen in 1975 and is the 21st largest firm in the US in terms of total revenue. The firm is also one of the most valuable publicly traded companies in the world. The initial public offering of the company back in 1986 created three billionaires and some 12,000 millionaires.
The market cap of Microsoft is close to $2 trillion and it posted a revenue of $143 billion in December 2020. The US is presently outstripping other countries in providing the COVID-19 vaccine to its citizens, and it means the US economy will reopen before the other countries. This has led to a rise in share prices of big technology giants, including Microsoft. The share price of the firm is now at an all-time high. Hedge funds are also buying Microsoft stock, indicating it will grow over the course of the next year.
2. Amazon.com Inc. (NASDAQ: AMZN)
Amazon.com Inc. (NASDAQ: AMZN) is an American technology firm primarily in the e-commerce business. It also has ventures in cloud computing, artificial intelligence and digital streaming. The company was founded by Jeff Bezos in 1994 who continues to lead it. Bezos is also one of the richest men in the world, thanks largely to the value of his company. Amazon is the largest internet company worldwide in terms of the revenue it generates. It also has a thriving publishing and consumer electronics arm.
The market cap of Amazon is over $1.6 trillion and the company posted more than $386 billion in revenue last year. The share prices of Amazon are at an all-time high and top analysts in Wall Street are consistently bullish on the future outlook for the firm. Colin Sebastian, an analyst at American investment firm Baird, has deemed Amazon stock a fresh pick for 2021 and maintained a Buy rating for the shares with a price target of $4,000 in mind. Sebastian cited the subscription services model of Amazon as the key to its future growth in the internet market.
1. Genuine Parts Co. (NYSE: GPC)
Genuine Parts Co. (NYSE: GPC) is an American firm that distributes automotive and industrial replacement parts. It also sells office products and electronic materials. The company was founded in 1925 by Carlyle Fraser and is headquartered in Atlanta. It has more than 48,000 employees and 2,800 operation centers around the world. The company is also the owner of the NAPA Auto Parts brand.
Genuine Parts has a market cap of over $16.9 billion and posted a revenue of close to $4 billion in 2020. The stock price of the firm rose at the start of the week and is likely to continue to do so, making it one of the growth stocks for this year.
You can also take a peek at Top 10 Car Company Stocks to Invest In and Ray Dalio’s Top 10 Stock Picks for 2021.
