3 Growth Stocks to Turn $250,000 Into $1 Million: April 2024


  • These growth stocks look ready to outperform the stock market.
  • Celsius Holdings (CELH): High revenue growth and expansion into international markets offer a compelling long-term opportunity.
  • Synopsys (SNPS): Financial growth remains strong, and an acquisition can lead to a greater market share.
  • Duolingo (DUOL): Rising profit margins and elevated growth rates can lead to multi-bagger returns.
growth stocks - 3 Growth Stocks to Turn $250,000 Into $1 Million: April 2024

Source: Golden Dayz / Shutterstock.com

It’s not every day when an investor gets to double their investment. Some stocks offer the potential to do more than that. Buying growth stocks at the right time and holding on to your investments can result in a 4x return. 

However, it’s hard to find growth stocks with that type of potential. Not every investor needs those returns to achieve long-term financial goals. Focusing on side hustles, getting a raise and exploring new career opportunities will give you more money to invest in your monthly portfolio. However, a 4x return certainly wouldn’t hurt if you could get it. 

These growth stocks offer great potential and can turn $250,000 into $1 million.

Celsius Holdings (CELH)

CELH stock: A view of several cases of Celsius energy drinks, on display at a local big box grocery store.
Source: The Image Party / Shutterstock

Celsius Holdings (NASDAQ:CELH) boasts impressive financial growth and double-digit profit margins. The company’s sports beverages are a big hit in North America and are expanding internationally. Most of the company’s sales are domestic, while international sales remain relatively untapped.

Celsius generated $1.3 billion in revenue during the full year of 2023. That’s a 102% year-over-year increase compared to 2022. Revenue jumped by 95% year-over-year in Q4 2023, while net income reached $39.1 million. The company reported a net loss of $28.2 million in the same period last year.

The sports beverage company’s stock has already turned $250,000 into $1 million for some investors. Shares are up by more than 5,900% over the past five years and are off to a strong start. CELH stock is up by 43% year-to-date. The stock is rated as a “Strong Buy” among 11 analysts with a projected 10% upside. The highest price target of $110 per share suggests the stock can gain an additional 29%.

Synopsys (SNPS)

Person holding mobile phone with logo of American technology company Synopsys Inc. (SNPS) on screen in front of web page. Focus on phone display. Unmodified photo.
Source: T. Schneider / Shutterstock.com

Synopsys (NASDAQ:SNPS) is a semiconductor stock with silicon chips in various devices and products. The stock has many supporters on Wall Street and is currently rated as a “Strong Buy.” The average price target suggests a 12% upside, while the highest price target of $675 per share indicates a 20% gain is in the cards.

The chipmaker has steadily outperformed the stock market. The stock is up by 48% over the past year and has gained 375% over the past five years. Synopsys has an $86 billion market cap and a 62 P/E ratio. Rising revenue and profit margins suggest that the gains can continue.

Synopsys reported 21% year-over-year revenue growth in Q1 FY24. Net income grew by 65% year-over-year. The company’s pending acquisition of Ansys (NASDAQ:ANSS) can help it gain market share faster. Regulators are the only hurdle in front of the final line.

Duolingo (DUOL)

DUOL stock: A phone displaying the duolingo logo in front of a computer screen displaying the duolingo site
Source: dennizn / Shutterstock

Duolingo (NASDAQ:DUOL) is the smallest company with a $9 billion market cap. The stock’s 61% rally over the past year highlights that shares aren’t cheap. Duolingo currently has a 133-forward P/E ratio. Bullish investors are optimistic that rising profit margins will result in a more favorable forward P/E ratio in future quarters. However, it is a lofty valuation.

The educational app helps people learn new languages and has recently expanded into additional subjects like math and music. Duolingo has reported excellent financial growth and continues to attract new users.

Duolingo’s daily active users and monthly active users increased by 65% and 46% year-over-year, respectively. Those growth rates helped Duolingo deliver 45% year-over-year revenue growth. Net income reached $12.1 million in Q4 2023, a notable improvement from the $13.9 million net loss reported in Q4 2022. This sudden shift to profitability and margins sitting at 9% has prompted a lot of excitement. If profit margins continue to expand, Duolingo can fit into its valuation.

On this date of publication, Marc Guberti held long positions in CELH and SNPS. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/3-growth-stocks-to-turn-250000-into-1-million-april-2024/.

©2024 InvestorPlace Media, LLC