Fiery Heavy Weights: 3 Hot Growth Stocks to Snap Up in April


  • These hot growth stocks to buy in April are set to outperform in 2024. 
  • Meta Platforms (META): The release of their Llama 3 LLM in July will be a game changer. 
  • Palantir (PLTR): Palantir will see double digit revenue and EPS growth in FY24. 
  • Spotify (SPOT): Gross margin expansion and profitability will push the company to new heights.
Hot growth stocks to buy in April - Fiery Heavy Weights: 3 Hot Growth Stocks to Snap Up in April


April showers bring not only flowers, but presents an opportunity to capitalize on hot growth stocks to buy in April. The stock market can be unpredictable, but a select few companies consistently demonstrate the potential for high returns. 

This year the tech industry remains a hotbed for innovation, thanks to the long term tailwinds of artificial intelligence. If you feel like you may have missed the boat, then you’re surely mistaken. These established growth stocks are fiery heavy weights, vying for industry disruption.

Now, let’s discover the top hot growth stocks to buy in April to make a positive splash in your portfolio!

Meta Platforms (META)

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Meta Platforms (NASDAQ:META), a leading technology giant is currently at the forefront of the AI revolution. They have been making significant investments into generative AI and the metaverse, set to create new revenue growth opportunities in 2024.

Meta is one of the largest technology companies in the world, and owns notable subsidiaries like WhatsApp and Instagram. Earlier this year, the company surged past the $1 trillion market cap status, driven by significant restructuring efforts in 2023 and key investments into generative AI. Furthermore, the company is set to release their new LLM, Llama 3 in July 2024. This has investors existing about the company’s increased focus on its AI investments.

In FY23, Meta’s key growth metrics and profitability increased dramatically. Revenue swelled 16% YOY to $134.9 billion. EPS increased 73% to $14.87 per share, with FCF hitting a record $44 billion. The company continues to reinvent new growth initiatives, with planned CAPEX in the $30-$37 billion range. With a maturing financial profile and a reasonable valuation, Meta remains a top hot growth stocks to buy in April.

Palantir (PLTR)

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Palantir (NYSE:PLTR) is currently one of the most talked about AI stocks on the street. Over the last year, the company achieved its first full year of GAAP profitability and growth is set to continue in 2024. 

Palantir’s technology has proven invaluable to defense contractors and national security agencies. The company was primarily founded on its capabilities to supply big data and machine learning models for government agencies including the FBI, CIA, NSA, and the United States Department of Defense. However, Palantir is now expanding its commercial business which is seeing accelerating revenue growth.

In Q4 2023, their commercial revenue increased 70% YOY to $131 million. Their AIP is gaining traction, and a number of different sectors are leveraging their platform. Furthermore, investors are anticipating an S&P 500 inclusion sometime this year. This could be a huge catalyst for the company, and CEO Alex Karp anticipates another year of profitable growth in FY24.

Spotify (SPOT)

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Spotify (NYSE:SPOT), is one of the biggest sleeper growth stocks to buy in 2024. They are currently the world’s leading music streaming platform, and currently boast more than 600 million MAUs.

In recent years, Spotify has been diversifying its content offerings by incorporating podcasts and exclusive audio content. This strategy has not only attracted new users, but has also enhanced user engagement and retention. The company is also leveraging artificial intelligence to create more personalized experiences to drive revenue growth. 

In Q3 2023, the company declared a surprise profit of $0.33 per share, signally that the business had hit a key inflection point. Gross margins have continued to expand over the last several quarters, and premium subscriber growth remains strong. Furthermore, Spotify’s FCF skyrocketed to $674 million in the 2024 fiscal year. With sustained double digit growth in MAUs, Spotify is one of the best hot growth stocks to buy in April.

On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Terel Miles is a contributing writer at, with more than seven years of experience investing in the financial markets.

Article printed from InvestorPlace Media,

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