For growth-oriented opportunities, many investors turn to Nasdaq-listed enterprises for good reason. Generally, they’re younger and thus offer significant upside potential compared to your average New York Stock Exchange-listed blue chips. To add even more oomph to your holdings, you can elect Nasdaq stocks to buy on the dip.

Here, we’re talking about publicly traded companies that offer relevant businesses that simply encountered a rough patch. But because the underlying fundamentals are solid, they have (likely) a better-than-average chance of jumping higher. Granted, adopting this approach is a double-edged sword. By always swinging for the fences, your batting average may suffer.

At the same time, throughout a long season, you may find yourself in games where you’re trailing badly. One extra run won’t bring you to level ground. Instead, you got to go yard with runners on base. That’s basically the principle with Nasdaq stocks to buy on the dip: high risk for potentially high reward.

Viper Energy (VNOM)

Based in Midland, Texas, Viper Energy (NASDAQ:VNOM) falls under the oil and gas midstream component of the hydrocarbon value chain. This segment focuses on the transportation and storage needs of energy commodities. Basically, it acts as the link between upstream (exploration and production) and downstream (refining and marketing). As such, Viper plays a critical role in the broader infrastructural framework.

Since the start of the year, VNOM stock has jumped to an almost 21% lead. However, it has slipped conspicuously since peaking in April. Nevertheless, the red ink could be temporary, making Viper a candidate for Nasdaq stocks to buy on the dip.

In particular, the company’s financial performance alone warrants special attention. Between the second quarter of 2023 to Q1 2024, Viper’s average earnings per share hit 69 cents. This translated to an average earnings beat of 41.45%.

For fiscal 2024, analysts do anticipate a dip in EPS of 10% to $2.49. However, sales could rise 5.7% to reach $874.95 million. Also, it’s worth mentioning that the company offers a forward dividend yield of 5.78%.

JD.com (JD)

Headquartered in Beijing, China, JD.com (NASDAQ:JD) represents one of the flagship e-commerce firms in the world’s second-largest economy. Of course, that used to be an enviable label. Nowadays, many critics have called into question the viability of the Chinese economy post-Covid-19. Still, buying JD stock into weakness could be an attractive speculative play, especially if the underlying arena bounces back.

Since the start of the year, JD.com shares have only gained a little more than 4%. Over the past 52 weeks, they’re down nearly 19%. Plus, the equity has been weak in the trailing month, down more than 6% below parity. Still, that could be a tempting dip-buying prospect as the company’s financials are surprisingly robust.

During the past four quarters, JD.com’s average EPS hit 80 cents. This translated to an earnings beat of 17.35%. During the trailing 12 months (TTM), the enterprise posted net income of $3.38 billion or $2.21 per share.

For fiscal 2024, experts anticipate a nearly 6% rise in EPS to $3.29. Also, the top line may expand by 5.2% to reach $160.3 billion.

Ulta Beauty (ULTA)

Calling Bolingbrook, Illinois home, Ulta Beauty (NASDAQ:ULTA) falls under the broad consumer cyclical sector, specifically the specialty retail space. Ulta is one of the powerhouses in the beauty care area, with its stores featuring a plethora of beauty products, including cosmetics, fragrance, hair and skin care and other solutions. It also features in-store salons.

Fundamentally, Ulta should benefit from the residual effects of travel prioritization. When Covid-19 restrictions first faded away, people took to the friendly skies under the revenge travel phenomenon. While this acute narrative has diminished, consumers following the global crisis are earmarking their discretionary funds for vacations. That should help Ulta Beauty. After all, you want to look good while you’re having your fun in the sun.

To be sure, ULTA stock hasn’t performed that well, down almost 20% year-to-date. It’s also down 16% in the past 52 weeks. Still, that makes the retail specialist a possible candidate for Nasdaq stocks to buy on the dip. Financially, it has been consistent, posting an earnings surprise of 4.08% in the past four quarters.

For the current fiscal year, analysts anticipate 3.2% growth in the top line to $11.56 billion. In the following year, sales could rise 6% to $12.26 billion.

On the date of publication, Josh Enomoto 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 InvestorPlace.com Publishing Guidelines.