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3 Growth Stocks To Watch In October 2022

Should investors’ be adding these top growth stocks to their radar right now?

growth stocks

Growth stocks are a type of equity security that refers to stocks of companies whose earnings are expected to grow at an above-average rate relative to the market. In short, growth stocks typically have a higher price-to-earnings (P/E) ratio than the market average and are often considered more volatile. With that, growth stocks are often associated with young, innovative companies in sectors with high potential for growth, such as technology and healthcare.

While there is no strict definition of a growth stock, they are generally distinguished from value stocks, which tend to be companies that are undervalued by the market and offer opportunities for long-term capital appreciation. Additionally, growth stocks are typically more expensive than value stocks, and as a result, they may not be suitable for investors who are risk-averse or looking for income. However, for investors with a higher tolerance for risk, growth stocks can offer the potential for significant capital gains. Considering this, check out these three top growth stocks in the stock market now.

Growth Stocks To Invest In [Or Avoid] Now

1. PayPal (PYPL Stock)

Starting off the list today is PayPal Holdings Inc. (PYPL). PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders.

PYPL Recent Stock News

Back in August, PayPal reported a beat for its second-quarter 2022 financial results. Getting straight to it, the company posted earnings of $0.96 per share with revenue of $6.8 billion for Q2 2022. This was compared with the street’s consensus estimates for the second quarter of 2022, which was earnings of $0.85 per share and revenue of $6.8 billion. Additionally, PayPal reported a revenue increase of 9.1% during the same period, in 2021.

Meanwhile, PayPal said in its earnings presentation it estimates third-quarter non-GAAP earnings of $0.94 to $0.96 per share along with revenue of approximately $6.80 billion. Wall Street’s consensus earnings estimate for Q3 2022 is $0.99 per share with revenue of $7.08 billion.

PYPL Stock Chart

Aside from that, on Monday afternoon, PayPal stock is trading down over 5% at $84.93 a share.

Source: TD Ameritrade TOS

[Read More] 2 EV Stocks To Watch Right Now

2. Tesla (TSLA Stock)

After that, let’s take a look at Tesla Inc. (TSLA). Tesla, Inc. is an American multinational corporation that specializes in electric vehicles, energy storage, and renewable energy. Tesla’s current products include electric cars, battery energy storage from home to grid scale, solar panels, and solar roof tiles, as well as other related products and services.

TSLA Recent Stock News

Just this month, Tesla announced its vehicle production and delivery. In detail, for the third quarter of 2022, the company announced it has produced over 365,000 vehicles and delivered over 343,000 vehicles. What’s more, Tesla also announced it will release its 3rd Quarter 2022 financial results. Specifically, the company will be announcing its results for Q3 2022 on Wednesday, October 19, 2022, after the market close.

TSLA Stock Chart

During Monday’s afternoon trading session, shares of Tesla stock are trading flat on the day at $223.15 per share.

Source: TD Ameritrade TOS

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3. Etsy (ETSY Stock)

Last but not least, Etsy Inc. (ETSY) is an online marketplace focused on handmade, vintage, and craft items. Etsy Inc generates revenue through three reportable segments: Marketplace, Services, and Other Revenue. The Marketplace segment includes revenues from the sale of goods by Etsy sellers to Etsy buyers. The Services segment includes Etsy payments, ads, direct checkout, and shipping labels. Other Revenue includes promotions and third-party platform services revenue.

ETSY Recent Stock News

Back in July, Etsy reported its second quarter 2022 financial results. In the report, the company reported earnings of $0.51 per share with revenue of $585.1 million for Q2 2022. In addition, revenue increased by 10.6% during the same period, in 2021. What’s more, Etsy said it estimates 3rd Quarter 2022 revenue to come in between $540 million to $575 million.

Josh Silverman, Etsy’s Chief Executive Officer commented, “Despite facing headwinds caused by macroeconomic and geopolitical factors, we believe the improvements we’ve driven in customer experiences across the Etsy marketplace and our House of Brands, coupled with continued focus on our ‘Right to Win’ strategy, will enable us to unlock the enormous long-term opportunities we see ahead.“

ETSY Stock Chart

During Monday’s afternoon trading session, shares of ETSY stock are trading down 1.03% and are currently trading at $109.19 a share.

Source: TD Ameritrade TOS

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By Brandon Michael

Brandon Michael is a financial specialist and financial contributor to the stock market. He enjoys writing about rising stocks and how the market changes over time. He specializes in multimedia and events, as well as social media management and media contributing. He has managed and marketed hundreds of events, as well as grown social media pages upwards of 200,000 followers and everything in between. As an active social media influencer in the car community, he understands how to recognize trends and curate content for niches. From an early age, Brandon was fascinated by the power of social media and how it built companies and careers for many. Over time he has developed many different strategies for different platforms on how to grow different kinds of pages. In addition to social media skills, he is passionate about events, it is second nature to him to promote them and make sure that everything is executing perfectly. This has allowed him to partner with some of the largest companies in the industry to run events for hundreds of thousands of people. Brandon has written many articles for many notable top websites for the last 3 years. His focus in his writing is generally rising stocks and emerging trends in the stock market, as well as bringing companies with market potential to the frontlines of the media. It is easy for him to identify trends and do extensive research to make sure he’s providing the most accurate research possible. In his free time, he continues to improve his research skills and financial knowledge to continue providing the best work possible.

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