The stock market can feel like easy money when every investment rises. However, the stock market is volatile and periodically goes through sharp corrections. Patient investors can use these dips as long-term buying opportunities and accumulate positions in promising growth stocks to buy.

Growth-oriented investments can outperform the stock market, which also means these investments can lose more ground than the market when things go wrong. The long-term outlook is promising for these seven top growth stocks to buy, and any short-term weaknesses can lead to higher long-term gains.

Crowdstrike (CRWD)

Crowdstrike (NASDAQ:CRWD) is a long-term leader in the cybersecurity industry that continues to post impressive growth rates. The firm reported 33% year-over-year revenue growth in Q4 FY24 and turned a $47.5 million GAAP net loss to GAAP net income of $53.7 million year-over-year. 

The significant turnaround in profitability can result in a more generous valuation for long-term investors. Valuation is a notable weakness for the stock as shares are priced at a 77.5 forward P/E ratio. It’s been much higher in the past but continued profitability, and any dips will make it more attractive.

Artificial intelligence will increase the demand for cybersecurity solutions. While AI has many good uses, technology can be used for bad acts. Cyber hackers can infiltrate more databases with artificial intelligence. Crowdstrike allows business owners to detect these threats. The cybersecurity firm also has AI resources to keep hackers from your digital assets.

Chipotle (CMG)

Chipotle (NYSE:CMG) has been a top-performing stock for several years. It’s off to a great start with a 42% year-to-date gain. The stock has also increased by 349% over the past five years. The impressive gains come amid a recently announced stock split that will reward investors with 50 shares for every share they currently own. 

The fast-food restaurant chain delivers healthier food options than most of its competitors. The company has raised prices six times over the past two years, yet it retains its loyal customer base. 

With the company’s first-quarter results, Investors witnessed Chipotle’s strengthening brand loyalty firsthand. Revenue increased by 14.1% year-over-year to reach $2.7 billion. Chipotle opened 47 new restaurants in the quarter and ensured that 43 locations came with Chipotlanes. Net income was $359.3 million, a 23.2% year-over-year increase.

Profit margins continue to improve, and the company is firm on its target of opening 285-315 restaurants this year. More growth seems to be ahead.

SoFi (SOFI)

SoFi (NASDAQ:SOFI) is a soaring digital bank that has the potential to become a giant within the industry. The fintech firm has an $8 billion market cap and recently turned a profit. SoFi delivered a positive GAAP net income of $48 million and GAAP EPS of $0.02 per share in Q4 2023.

That wasn’t the only positive development. Revenue surged by 35% year-over-year as the company added nearly 585,000 new members. SoFi now has more than 7.5 million members.

SoFi’s profit margin came in at 7.9% for the quarter. The digital bank has the potential to rapidly expand profit margins in future quarters since it does not have physical branches. SoFi has far less overhead than traditional banks, allowing it to offer some of the most competitive rates, terms and rewards. It also means the potential for high returns. 

SoFi stock has been a roller coaster, so you must be patient. It’s down by 18% year-to-date but has gained 44% over the past year. Long-term growth plans and a switch to profitability suggest that the fintech company can generate sizable gains in the future. 

Microsoft (MSFT)

Microsoft (NASDAQ:MSFT) has become a consistent stock that is a top holding in many mutual funds and ETFs. The corporation has exposure to numerous high-growth industries and has been reliably increasing its revenue and profit margins for many years.

The tech giant continued its tear with an impressive earnings print. The highlights for Q3 FY24 included 17% year-over-year revenue growth and 20% year-over-year net income growth. Microsoft Cloud led the way with 23% year-over-year revenue growth, contributing to over half of the firm’s total revenue.

Microsoft stock has steadily outperformed the stock market. It’s up by 10% year-to-date and has logged a 215% gain over the past five years. It’s the only stock with a $3 trillion valuation; artificial intelligence can help it soar higher. Copilot is becoming a larger segment, allowing Microsoft to expand into more industries while offering better solutions for its current customer base.

Alphabet (GOOG,GOOGL)

Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) has been working on cost cuts and delivering value for shareholders. Investors got to see those ambitions on full display with an excellent Q1 2024 print. During the quarter, revenue increased by 15% year-over-year while net income soared to $23.7 billion. That was a 57% year-over-year increase. 

Alphabet is “well under way” with its Gemini era, which will position the corporation well for “the next wave of AI innovation.” Alphabet even initiated its first quarterly dividend, which started at $0.20 per share. Investors should expect considerable dividend growth over the years due to the company’s rising profit margins and strong cash position. Alphabet currently sits on $110.9 billion in cash, cash equivalents and marketable securities.

The stock trades at a reasonable 28 P/E ratio and continues to outperform the market. Shares are up by 24% year-to-date and have soared by 193% over the past five years.

Nu Holdings (NU)

Nu Holdings (NYSE:NU) is a digital bank based in Brazil. Like SoFi, Nu Holdings has less overhead, leading to higher profit margins. Shares have doubled over the past year as the company reports exceptional financial results. 

The firm generated $2.4 billion in revenue in Q4 2023. Revenue jumped by 66% year-over-year in the quarter, which was in line with the firm’s 68% year-over-year revenue growth in fiscal 2023. Net income soared from $58.0 million in Q4 2022 to $360.9 million in Q4 2023. That’s a 522% year-over-year increase. 

Nu Holdings primarily serves the Latin American community. It’s worked well so far, and the bank continues to grow at an impressive rate. More than 93 million customers now use the bank. Nu Holdings offers bank accounts, loans, investment accounts, and other financial products. Analysts have rated the stock as a “Strong Buy” and believe it can march 15% higher from current levels.

Duolingo (DUOL)

Duolingo (NASDAQ:DUOL) is an educational app that helps people learn new languages. The app has also expanded to cover additional subjects like math and music. Investors will have to contend with a 133 forward P/E ratio if they buy shares at current levels. However, the company reports higher profits and a short-term dip can create a compelling buying opportunity. 

While the valuation is high, Duolingo has a strong business model that is growing at a high rate. The educational technology firm reported 45% year-over-year revenue growth in Q4 2023. Net income came to $12.1 million compared to a net loss of $13.9 million in the same period last year. 

The solid financial growth also comes with a soaring user base. Monthly active users grew by 46% year-over-year to 88.4 million total users. The app also has 26.9 million daily active users, which is a 65% year-over-year improvement. The firm looks ready to increase its profit margins, making its valuation more appealing to long-term investors.

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