In this article, we discuss the 15 best fast growth stocks to buy right now.
In the fourth quarter of 2024, the US Gross Domestic Product (GDP) expanded at an annual rate of 2.3%, slightly below market expectations of 2.7% and a deceleration from the 3.1% growth observed in the third quarter. This slowdown was primarily driven by declines in business investment and exports, partially offset by increased consumer and government spending. For the entire year, the economy grew by 2.8%, marginally less than the 2.9% growth recorded in 2023. Inflationary pressures persisted, with the price index for gross domestic purchases rising by 2.2% in the fourth quarter, up from 1.9% in the previous quarter.
Investor sentiment has been influenced by policy uncertainties stemming from the Trump administration’s rapid and sometimes unpredictable policy shifts. Actions on tariffs, immigration, and federal budget cuts have introduced volatility into the market, leading to concerns about potential inflationary pressures and slowed economic growth. David Kelly, Chief Global Strategist at JP Morgan Asset Management, highlighted that such uncertainties could dampen business investment and consumer confidence. This sentiment is reflected in recent Federal Reserve reports indicating a reduction in capital spending and a decline in small business investment expectations.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
The combination of sluggish growth and persistent inflation has reignited fears of stagflation—a scenario characterized by stagnant economic growth coupled with high inflation. Trade policies, including tariffs on Chinese imports and plans for additional tariffs on various goods, have contributed to these concerns. While inflation remains below the peaks of the 1970s, ongoing trade tensions have raised the prospect of growth-impeding inflationary pressures. Investors are cautiously optimistic about stocks but are increasingly wary of potential stagflation risks.
Despite these challenges, growth stocks have demonstrated resilience. The S&P 500 index experienced its best week since late January, breaking a two-week losing streak. Analysts Jeff Blazek and Erik Knutzen of Neuberger Berman noted a shift in investor focus from inflation concerns to growth prospects, suggesting that expectations of economic expansion are now exerting a more significant influence on the market. This shift has been accompanied by strong performances in US value stocks, industrials, financials, and European equities.
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
To come up with the 15 best fast growth stocks to buy right now, we went over multiple rankings on the internet to compile an initial list of fast growth stocks. We then examined the hedge fund sentiment of each stock and picked the most popular ones. 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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
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Best Fast Growth Stocks To Buy Right Now
15. Lantheus Holdings, Inc. (NASDAQ:LNTH)
Number of Hedge Fund Holders: 39
Lantheus Holdings, Inc. (NASDAQ:LNTH) is a radiopharmaceutical company that specializes in the development and distribution of precision diagnostic and therapeutic products. As of the third quarter of 2024, worldwide revenue was $378.7 million, showing an increase of 18.4% from the third quarter of the prior year. In January, the company signed a definitive agreement to acquire Evergreen Theragnostics, a clinical-stage radiopharmaceutical company, in an all-cash deal. The agreement includes an upfront payment of $250 million, with the potential for an additional $752.5 million in milestone payments. The acquisition expands Lantheus’ oncology diagnostic pipeline by adding OCTEVY, a PET diagnostic agent for neuroendocrine tumors (NETs), and several novel theranostic pairs in clinical and pre-clinical stages.
14. Five9, Inc. (NASDAQ:FIVN)
Number of Hedge Fund Holders: 40
Five9, Inc. (NASDAQ:FIVN) delivers the most reliable cloud contact center that empowers organizations to deliver extraordinary customer experiences. Revenue for the third quarter of 2024 increased 15% to a record $264.2 million, compared to $230.1 million for the third quarter of 2023. In February, the firm announced its partnership with CallTower to integrate its contact center platform with CallTower’s Operator Connect for Microsoft Teams. This collaboration combines Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS), offering businesses an enhanced solution for better customer engagement.
13. Nextracker Inc. (NASDAQ:NXT)
Number of Hedge Fund Holders: 41
Nextracker Inc. (NASDAQ:NXT) is a company that develops and sells solar tracker systems and software. In the third quarter of fiscal year 2025, the company’s backlog hit a record high of over $4.5 billion, driven by strong global demand and contributions from new products. In January, the company and the University of California Berkeley Engineering (UC Berkeley) partnered to improve solar power technology. They are creating the CAL-NEXT Center for Solar Energy Research, which will focus on advanced research and a new solar test field. Nextracker has donated $6.5 million to support the project, which is already accepting research proposals from UC Berkeley faculty and graduate students.
12. Chart Industries, Inc. (NYSE:GTLS)
Number of Hedge Fund Holders: 47
Chart Industries, Inc. (NYSE:GTLS) is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. In fiscal year 2024, the sales outlook was approximately $4.20 billion to $4.30 billion, an increase of 18% to 20.5% compared to the previous fiscal year. In January, the company announced its signing of an agreement with ExxonMobil to enhance LNG project capabilities worldwide. Under the agreement, ExxonMobil and Chart will deploy a design once, then build many concepts to optimize cost, schedule, and quality for LNG projects globally. This collaboration builds on Chart’s prior involvement in ExxonMobil’s Mozambique LNG project and demonstrates their continued efforts to advance LNG production capabilities across multiple countries.
11. Sarepta Therapeutics, Inc. (NASDAQ:SRPT)
Number of Hedge Fund Holders: 50
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is engineering solutions for rare diseases with science that is at the forefront of precision genetic medicine. In fiscal year 2024, total net product revenue was $638.2 million for the fourth quarter and $1.79 billion for the full year 2024, exceeding full-year guidance by over $100 million. In January, the company announced positive results from Part 2 of its Phase 3 EMBARK study for ELEVIDYS, the only approved gene therapy for Duchenne muscular dystrophy. MRI results from patients treated in Part 1 of the study showed minimal muscle pathology progression over two years, closely aligning with the functional benefits observed.
10. Duolingo, Inc. (NASDAQ:DUOL)
Number of Hedge Fund Holders: 52
Duolingo, Inc. (NASDAQ:DUOL) is a fun, free app for learning 40+ languages through quick, bite-sized lessons. The company reported total bookings of $211.5 million, an increase of 38% in the third quarter of 2024 from the prior year quarter. In January, the company announced the expansion of its Video Call feature to Android devices. This AI-powered conversation tool for language learning is now available in five more languages, making it Duolingo’s most advanced feature for helping learners practice real-world conversations. Video Call on iOS is now available for learners of English, Spanish and French – and new languages including German, Italian, Portuguese, Japanese, and Korean.
9. Neurocrine Biosciences, Inc. (NASDAQ:NBIX)
Number of Hedge Fund Holders: 57
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is a leading neuroscience-focused biopharmaceutical company. In the fourth quarter of 2024, GAAP net income and earnings per share were $103 million and $1, respectively, compared with $148 million and $1.44, respectively, for the fourth quarter of the prior year. In January, the firm announced an amended agreement with Takeda to develop and commercialize osavampator. The company will now have exclusive rights to develop and commercialize osavampator worldwide for all indications, except in Japan, where Takeda will retain exclusive rights. Both companies will share development costs in their respective regions and are eligible for royalty payments.
8. Palantir Technologies Inc. (NASDAQ:PLTR)
Number of Hedge Fund Holders: 63
Palantir Technologies Inc. (NASDAQ:PLTR) is a publicly traded company that specializes in software platforms for big data analytics. In the fiscal year 2024, revenue grew 29% year-over-year to $2.87 billion. In the fourth fiscal quarter of 2024, revenue grew 36% year-over-year and 14% quarter-over-quarter to $828 million. The firm also closed 129 deals of at least $1 million, 58 deals of at least $5 million, and 32 deals of at least $10 million, underscoring the company’s strong position in the market. In December last year, the company announced the extension of its long-standing partnership with the US Army to enhance the Army Vantage capability in support of the Army Data Platform (ADP). This agreement is valued at $400,746,583 over up to four years, with a potential total ceiling of $618,871,428.
7. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)
Number of Hedge Fund Holders: 67
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) develops, publishes, and markets interactive entertainment solutions for consumers worldwide. In the third fiscal quarter of 2024, total net bookings grew 3% to $1.37 billion, compared to $1.34 billion during last year’s fiscal third quarter. In February, Zynga, a publishing label of Take-Two Interactive Software, announced that its Puzzle RPG Game of Thrones: Legends is launching The Dragon Egg Hunt, a global sweepstakes powered by the Google Maps Platform. Fans can join a worldwide treasure hunt using a custom Google Maps experience to find virtual dragon eggs in key locations.
6. Coinbase Global, Inc. (NASDAQ:COIN)
Number of Hedge Fund Holders: 68
Coinbase Global, Inc. (NASDAQ:COIN) is a publicly traded company that operates a cryptocurrency exchange platform. In February, the company announced that USDC had reached a new all-time high (ATH) supply of over $56 billion, reflecting a staggering growth of over 100% year-over-year and $12 billion year-to-date. In the same month, the company obtained its VASP registration in the United Kingdom issued by the Financial Conduct Authority (FCA). This registration will allow Coinbase to offer a better suite of retail, institutional, and ecosystem products and services to users across the UK as the largest registered VASP. The company recently reported that in 2024, annual revenue more than doubled, reaching $6.6 billion, while net income totaled $2.6 billion and Adjusted EBITDA reached $3.3 billion.
5. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
Number of Hedge Fund Holders: 77
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a global cybersecurity leader with an advanced cloud-native platform for protecting endpoints, cloud workloads, identities and data. The firm announced fourth-quarter results with net new ARR growth accelerating to 27% year-over-year, reaching a new high of $282 million. In January, the firm announced that its Falcon cybersecurity platform achieved perfect results in the 2024 SE Labs Enterprise Advanced Security (EDR) Ransomware Test, with 100% detection, protection, and accuracy. The platform successfully blocked all known and unknown threats with no false positives, earning the SE Labs’ AAA Award for Advanced Security EDR Protection for the third consecutive year.
4. Nu Holdings Ltd. (NYSE:NU)
Number of Hedge Fund Holders: 79
Nu Holdings Ltd. (NYSE:NU) is a Brazil-based holding company, which engages in the provision of digital banking services. In the third quarter of 2024, the company’s revenues were up 56% year-over-year on an FX-neutral basis, setting a new record at $2.9 billion. In January, five years after launching in Mexico, the company reached 10 million customers, doubling its base in the past year. Since its arrival, it has expanded its offerings, which now include a credit card, savings account with Cajitas (Money Boxes), a debit card, and personal loans, impacting nearly 12% of Mexico’s adult population. In the same month, the firm announced the expansion of NuCel’s customer base, launched in October last year. The NuCel tab will soon appear in the Nu app, allowing Brazilian customers to receive notifications, purchase the product, and transfer their numbers digitally.
3. AppLovin Corporation (NASDAQ:APP)
Number of Hedge Fund Holders: 95
AppLovin Corporation (NASDAQ:APP) engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States. The company’s net income for the third quarter of 2024 was $1,198,235, showing an increase of $333,979, or 38.6%, compared to $864,256 in the same period of the prior year. Management’s positive outlook on e-commerce and robust ad performance signal potential revenue growth of 27% year-over-year in CY25, with adj. net cash from operating activities of $701 million and $2.1 billion, and Free Cash Flow of $695 million and $2.1 billion for the fourth quarter and full year 2024, respectively. AppLovin announced an agreement to sell its mobile gaming division to an undisclosed buyer for $900 million. The deal includes $400 million in equity and $500 million in cash, subject to adjustments.
2. MercadoLibre, Inc. (NASDAQ:MELI)
Number of Hedge Fund Holders: 96
MercadoLibre, Inc. (NASDAQ:MELI) is a multinational e-commerce company operating in Latin America. In the third quarter of 2024, net revenues and financial income reached $5.3 billion, reflecting a 35% year-over-year growth and a 103% increase on an FX-neutral basis. In February, Mercado Libre partnered with AWS Partner Mutt Data to address the challenge of producing high-performing banner ads with generative artificial intelligence (AI) for dozens of thousands of smaller sellers. Through GenAds, Mercado Libre helped these sellers generate images for advertising, boosting click-through rates (CTR) by an average of 25% and effectively increasing sales. The initiative, launched across seven Latin American countries, including Brazil, Mexico, and Argentina, led to a 45% increase in impressions and the generation of over 90,000 updated product creatives, benefiting tens of thousands of sellers.
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 223
NVIDIA Corporation (NASDAQ:NVDA) is a designer and developer of graphics processing units, central processing units, and system-on-a-chip units. For fiscal 2024, revenue increased by 126% to $60.9 billion. GAAP earnings per diluted share rose 586% to $11.93, while non-GAAP earnings per diluted share grew 288% to $12.96. In February, the company announced that its Blackwell platform is now generally available in the cloud, offering advanced AI and computing capabilities. CoreWeave, an American-based cloud computing startup, has launched NVIDIA GB200 NVL72-based instances, becoming the first cloud service provider to make Blackwell accessible. These instances feature rack-scale NVIDIA NVLink across 72 Blackwell GPUs and 36 Grace CPUs, scaling up to 110,000 GPUs with NVIDIA Quantum-2 InfiniBand networking.
While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than NVIDIA Corporation (NASDAQ:NVDA) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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