On June 27, Dan Ives of Wedbush Securities appeared on Bloomberg’s “Bloomberg The Close” to suggest that the tech bull market is just getting started, and so he expects a strong second half of the year. Ives believes that the current market rally is in its early stages, particularly when it comes to the software phase of the AI revolution and its impact on consumers. Addressing investor comfort with funding such ventures without immediate returns, like early investments in data centers and AI, Ives stated that investors do not want to be left out of this rapidly expanding market. He characterized the current AI landscape as a Game of Thrones arms race, with tech companies intensifying their focus.
Regarding company valuations, particularly in light of traditional metrics seemingly not applying to some of these high-growth AI companies, Dan dismissed the concerns of bears who can’t find AI in the spreadsheets. He argued that investors must look 3, 5, or even 7 years out to assess monetization opportunities. He concluded that focusing solely on one-year valuations causes investors to miss every transformational growth stock over the last 20 years. Ives noted that AI’s influence is now spreading beyond just a few major names to the “second, third, fourth derivatives” of tech. He concluded that it is still 10 p.m. in the AI party that goes to 4 a.m., which indicates room for continued growth and innovation across the tech sector, led by companies in the MAG7.
That being said, we’re here with a list of the 10 best NASDAQ growth stocks to buy for the next 3 years.
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Methodology
We sifted through the Finviz stock screener and financial media reports to compile a list of the top NASDAQ growth stocks to buy for the next 3 years. We then selected 10 stocks with a 3-year revenue CAGR of over 15%. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024, which was sourced from Insider Monkey’s database.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Best NASDAQ Growth Stocks to Buy for the Next 3 Years
10. Applied Digital Corporation (NASDAQ:APLD)
3-Year Revenue CAGR: 499.62%
Number of Hedge Fund Holders: 26
Applied Digital Corporation (NASDAQ:APLD) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 30, BASX, which is a wholly-owned subsidiary of AAON Inc. (NASDAQ:AAON), announced a partnership with Applied Digital Corporation. This collaboration deploys advanced cooling solutions for Applied Digital’s purpose-built AI data center campus in Ellendale, North Dakota, known as Polaris Forge 1.
This partnership involves BASX designing and manufacturing a customized free-cooling chiller system specifically optimized for cold-climate operation at Applied Digital’s Polaris Forge 1 AI factory. The system is engineered to reduce power demand and requires zero water consumption, which addresses the unique AI infrastructure demands that necessitate 15x to 30x the power density of traditional data centers.
The free cooling chiller system operates in 3 optimized modes, all without using water: Full Free Cooling, which rejects 100% of the IT load using only pumps and fans; Partial Free Cooling, which uses ambient air for as much load as possible, supplementing with direct expansion/DX cooling when necessary; and Full Mechanical Cooling, which engages compressors and coils for full DX capacity during peak ambient conditions.
Applied Digital Corporation (NASDAQ:APLD) designs, develops, and operates digital infrastructure solutions and cloud services for HPC and AI industries in North America. BASX manufactures high-efficiency data center cooling, cleanroom systems, custom HVAC, and modular solutions. AAON Inc. (NASDAQ:AAON) engineers, manufactures, markets, and sells air conditioning and heating equipment.
9. Manhattan Associates Inc. (NASDAQ:MANH)
3-Year Revenue CAGR: 15.28%
Number of Hedge Fund Holders: 31
Manhattan Associates Inc. (NASDAQ:MANH) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 17, Manhattan Associates announced that Giant Eagle successfully implemented Manhattan Active Warehouse Management/WM at its largest facility. This facility is located in Bedford Heights, Ohio, and spans over 1 million square feet.
This implementation in Bedford Heights marks the 5th facility in Giant Eagle’s ongoing cloud migration to Manhattan Active WM. The company plans to transition its remaining 2 distribution centers to the new system by September this year. Each implementation has been completed efficiently, with Giant Eagle reportedly returning to full production levels within days of launching the updated system.
In its first week of operation, the Bedford Heights warehouse exceeded expectations by processing hundreds of thousands of inbound and outbound cases. Manhattan Active Warehouse Management is a cloud-native WMS built from microservices to unify all aspects of distribution planning and execution. This system seamlessly coordinates with Manhattan Active Transportation Management/TM, which Giant Eagle is currently implementing.
Manhattan Associates Inc. (NASDAQ:MANH) develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omnichannel operations. Giant Eagle Inc. is one of the nation’s largest food retailers and distributors.
8. Corcept Therapeutics Incorporated (NASDAQ:CORT)
3-Year Revenue CAGR: 21.71%
Number of Hedge Fund Holders: 33
Corcept Therapeutics Incorporated (NASDAQ:CORT) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 24, Corcept Therapeutics announced positive results from the CATALYST trial of Korlym (mifepristone). The data was presented at the American Diabetes Association’s 85th Scientific Sessions and also published in Diabetes Care. It showed that Korlym improved glucose control in patients with hypercortisolism (Cushing’s syndrome) and difficult-to-control type 2 diabetes.
The trial met its primary endpoint, as patients receiving Korlym experienced a 1.47% decrease in HbA1c from baseline, as compared to a 0.15% decrease in the placebo group. Those on a 900mg dose saw a 2.01% HbA1c improvement. Beyond blood sugar, Korlym also led to reductions in body weight (by 5.1 kg) and waist circumference (by 5.1 cm), even as patients reduced or stopped other glucose-lowering medications.
The CATALYST trial is the largest to date investigating hypercortisolism in difficult-to-control type 2 diabetes. Its initial phase screened 1,057 patients and found that 24% had hypercortisolism, which made them eligible for the treatment phase.
Corcept Therapeutics Incorporated (NASDAQ:CORT) discovers and develops medication for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the US.
7. Super Micro Computer Inc. (NASDAQ:SMCI)
3-Year Revenue CAGR: 67.02%
Number of Hedge Fund Holders: 40
Super Micro Computer Inc. (NASDAQ:SMCI) is one of the best NASDAQ growth stocks to buy for the next 3 years. On July 1, Super Micro Computer announced an industry-first: its BigTwin Multi-Node Server, which is equipped with 4th and 5th Gen Intel Xeon Scalable Processors, has been certified by Intel for immersion cooling. This certification follows quality and performance testing of the Supermicro server in combination with a specified liquid and immersion tank.
Additionally, the Supermicro BigTwin system successfully passed thorough testing aligned with the Open Compute Project/OCP specification for material compatibility in immersion cooling. Supermicro’s immersion-certified servers aim to lower Power Usage Effectiveness/PUE by eliminating the need for traditional air-based cooling. By submerging high-density and fanless servers directly in dielectric fluid, heat dissipates more efficiently than with air, which reduces the energy required for cooling units like CRAC and CRAH.
This approach allows for denser compute configurations without increasing thermal load and reduces overall IT equipment power consumption by removing internal server fans. Data centers using Supermicro immersion servers are capable of achieving PUE values near 1.05 or lower. The certified system specifically tested was the BigTwin SuperServer SYS-221BT-HNTR.
Super Micro Computer Inc. (NASDAQ:SMCI) develops and sells high-performance server and storage solutions based on modular and open architecture in the US, Europe, Asia, and internationally.
6. The Trade Desk Inc. (NASDAQ:TTD)
3-Year Revenue CAGR: 25.76%
Number of Hedge Fund Holders: 61
The Trade Desk Inc. (NASDAQ:TTD) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 18, The Trade Desk announced an expanded partnership with HOY. The collaboration will enable programmatic trading of HOY’s connected TV/CTV advertising inventory via The Trade Desk’s platform.
HOY will adopt advanced identity and access technologies, specifically Unified ID 2.0 (UID2) and OpenPath, to enhance targeting precision. The partnership comes as audiences are shifting towards on-demand and streaming content. Statista reported that the global CTV ad spending is projected to reach more than $38 billion by 2027.
HOY’s proactive integration of UID2 and readiness for OpenPath deployment positions it to create a transparent and high-performance advertising ecosystem. UID2 was originally developed by The Trade Desk, a next-gen identity solution.
The Trade Desk Inc. (NASDAQ:TTD) is a technology company with a self-service cloud-based ad-buying platform for buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns. HOY is a media platform operated by i-CABLE Communications Limited in Hong Kong.
5. Shopify Inc. (NASDAQ:SHOP)
3-Year Revenue CAGR: 24.78%
Number of Hedge Fund Holders: 77
Shopify Inc. (NASDAQ:SHOP) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 26, Akeneo officially joined Shopify’s Partner Program as a Premier Partner. This deepened collaboration aims to enhance global commerce by empowering merchants to deliver high-converting, unified product experiences with speed and scalability.
Akeneo has hence launched the Akeneo App for Shopify, which allows customers to connect Akeneo’s PIM to Shopify storefronts and eliminate manual data entry through accurate and localized product data. The app is available now in the Akeneo App Store and Shopify App Store.
One instance of Akeneo’s customer success can be seen at FELCO. With the use of Akeneo and Shopify, FELCO was able to grow the company’s eCommerce presence from 10 countries to 170 countries and extend the company’s capacity to sell spare parts directly through this channel in under 6 months, as reported by the Head of IT at FELCO, André Dias.
Shopify Inc. (NASDAQ:SHOP) is a commerce technology company that provides tools to start, scale, market, and run a business of various sizes internationally. Akeneo is the product experience/PX company and global leader in Product Information Management/PIM.
4. Palantir Technologies Inc. (NASDAQ:PLTR)
3-Year Revenue CAGR: 30.90%
Number of Hedge Fund Holders: 77
Palantir Technologies Inc. (NASDAQ:PLTR) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 18, Palantir Technologies announced a partnership with Cyberlux Corporation (OTC:CYBL) to implement Palantir’s Warp Speed Operating System across Cyberlux’s manufacturing operations.
The Warp Speed Operating System is a cutting-edge AI platform for manufacturing resource planning and supply chain orchestration, which will provide Cyberlux with real-time visibility across its entire production lifecycle. This includes dynamic management of raw materials, component sourcing, production schedules, and downstream logistics.
The partnership is expected to reduce lead times, resolve production bottlenecks, and enable more responsive delivery of advanced equipment to the US Department of Defense/DoD, allied military forces, and global government partners. Cyberlux’s Global Integration Services division will also directly benefit from these platform deployments.
Palantir Technologies Inc. (NASDAQ:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the US, the UK, and internationally. Cyberlux Corporation (OTC:CYBL) designs, develops, and markets portable lighting products for commercial, military, and government users in the US.
3. Datadog Inc. (NASDAQ:DDOG)
3-Year Revenue CAGR: 33.43%
Number of Hedge Fund Holders: 84
Datadog Inc. (NASDAQ:DDOG) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 20, Datadog announced its inclusion on the Forbes Global 2000 and Forbes Global 2000 United States Lists for 2025. The recognition highlights the company’s global impact and financial strength, with Forbes’ annual ranking based on sales, profits, assets, and market value.
For the trailing 12 months ending March 31 this year, Datadog reported $2.8 billion in revenue, which was up 26% year-over-year. As of then, Datadog served ~30,500 customers, which included companies such as Samsung, NASDAQ, Shell, Autodesk, and Toyota.
This milestone closely followed Datadog’s annual DASH conference, which was held in New York City from June 9 to 11 this year, which attracted record attendance. At the event, Datadog unveiled several new products and features. These innovations include new AI agents for rapid application issue resolution, new LLM observability capabilities to monitor agentic AI and improve model performance, and AI security capabilities for protection against critical AI risks. Datadog also launched an Internal Developer Portal to ship production-ready code quickly and introduced new long-term retention, search, and data residency capabilities.
Datadog Inc. (NASDAQ:DDOG) operates an observability and security platform for cloud applications in the US and internationally.
2. AppLovin Corporation (NASDAQ:APP)
3-Year Revenue CAGR: 22.19%
Number of Hedge Fund Holders: 96
AppLovin Corporation (NASDAQ:APP) is one of the best NASDAQ growth stocks to buy for the next 3 years. On July 1, AppLovin announced the successful completion of the sale of its mobile gaming business to Tripledot Studios.
The transaction was initially announced on May 7 and officially closed on June 30, after satisfying all customary closing conditions and regulatory requirements. Under the terms of the purchase agreement, AppLovin divested its mobile gaming business for a total consideration of $400 million in cash.
The divestiture includes 10 game studios and their popular mobile gaming franchises. The studios involved collectively develop well-known mobile games across various genres. The Co-founder and CEO of AppLovin, Adam Foroughi, stated that this transaction streamlines the company to its core business and allows a full focus on future opportunities.
AppLovin Corporation (NASDAQ:APP) builds a software-based platform for advertisers to enhance the marketing and monetization of their content in the US and internationally.
1. MercadoLibre Inc. (NASDAQ:MELI)
3-Year Revenue CAGR: 41.26%
Number of Hedge Fund Holders: 108
MercadoLibre Inc. (NASDAQ:MELI) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 26, TIME released its annual TIME100 Most Influential Companies list, which recognises companies making an extraordinary global impact. Mercado Libre was named one of these influential companies, distinguished as the only Latin American company on the list and recognized as the dominant retailer in the Titan category.
Mercado Libre’s fintech arm, called Mercado Pago, processed ~$200 billion in payments in 2024 throughout Latin America, with over 60 million active monthly users using its banking application. This growth is tied to its mission of empowering small and medium-sized enterprises/SMEs. Notably, Mercado Pago extended credit to 22 million small businesses in Brazil alone last year. Across the entire region, Mercado Pago has granted a total of $24 billion in credit to SMEs and entrepreneurs.
The company began 2025 with a team of 84,000 people and plans to add ~28,000 new positions, projecting a total workforce of over 112,000 employees by the end of 2025. Nearly half of its workforce consists of women, and 93% of employees feel their managers are inclusive. Furthermore, Mercado Libre operates the region’s largest fleet of EVs. For 25 years, Mercado Libre has been a key driver of development in Latin America, serving as the main source of income for 1.8 million families.
MercadoLibre Inc. (NASDAQ:MELI) operates online commerce platforms in Brazil, Mexico, Argentina, and internationally.
While we acknowledge the potential of MELI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MELI and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
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