It’s less stressful to buy reliable companies and hold onto them for many years than it is to trade stocks and strategically plan your entries and exits. Even the most reliable companies go through down cycles and you will have to remain patient during those stretches. This reality has led to the 3 best long-term stocks to buy in April 2024.
While every stock goes through ups and downs, reliable long-term growth stocks continue to gain instead of puttering out after a big rally. Long-term stocks exhibit competitive moats and expand their profit margins. These corporations have multiple years of sustainable growth and catalysts that still look strong.
Investors looking for some long-term stock ideas may want to consider the 3 best long-term stocks to buy in April 2024.
Celsius Holdings (CELH)
Celsius Holdings (NASDAQ:CELH) is a sports beverage company that offers healthier alternatives than many of its competitors. The company’s drinks have been flying off the shelves. Revenue increased by 95% year-over-year to $347 million in the fourth quarter of 2023. Net income came to $39.1 million compared to a $28.2 million net loss in the same period last year.
Those growth rates are impressive, but those results have been regular. Investors have noticed and have bid up the stock by 5,500% over the past five years. The stock has double-digit net profit margins and has a compelling growth opportunity that can result in more gains.
Celsius Holdings is expanding internationally. Almost all of its sales currently come from North America. It’s still in the very early innings of its international expansion and recently got into Australia and New Zealand. The company will launch its beverages in those regions in Q4 2024.
Amazon (AMZN)
Amazon (NASDAQ:AMZN) operates in multiple business verticals. Its two largest segments are e-commerce and cloud computing, but it’s also gaining market share in advertising, video streaming, and groceries. The Magnificent Seven stock is expanding its net profit margins and currently comes with a $1.9 trillion market cap. The stock is up by 76% over the past year.
The tech conglomerate once again posted strong financials. Revenue increased by 14% year-over-year to reach a record-breaking $170.0 billion. The online marketplace achieved double-digit growth rates in domestic and international markets. Amazon Web Services grew by 13% year-over-year. Net income reached $10.6 billion in the quarter. This make it one of the 3 best long-term stocks to buy in April 2024.
Amazon continues to invest in its product delivery network to ensure a lengthy lead over its competitors. Amazon is the leader in e-commerce and has effectively used its capital to explore other ventures. Amazon’s latest opportunity is artificial intelligence which it has incorporated into Amazon Web Services.
Duolingo (DUOL)
Duolingo (NASDAQ:DUOL) is an edtech company that helps people learn new languages and skills. The app recently began to offer educational resources for math, music, and additional subjects that stretch beyond learning new languages.
The green bird has been producing positive returns for investors. Shares are up by 49% over the past year. The stock’s only weakness is its 130-forward P/E ratio. The most compelling growth stocks often have high valuations, but investors have a few reasons to believe that Duolingo can grow into its valuation.
Revenue increased by 45% year-over-year in Q4 2023 amid a 65% year-over-year increase in the number of daily active users. The company’s $12.1 million in net income was a big development as the firm had recently been unprofitable.
Duolingo’s scaling efforts can translate into profit margin expansions that will make the stock look more attractive for long-term investors. The firm has the potential to be a great long-term stock and will look more enticing after a pullback. It’s one of the 3 best long-term stocks to buy in April 2024.
On this date of publication, Marc Guberti held long positions in CELH and AMZN. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
