3 High-Potential Stocks on Track to Double by Next Year


  • These high-potential stocks could hit a record high this year. 
  • Palantir (PLTR): Up 64% year-to-date, Palantir stock is on an unstoppable rally. 
  • Delta Air Lines (DAL): The ongoing travel season could be huge for Delta Air Lines. 
  • Shopify (NYSE:SHOP): An improvement in the economy and increased consumer spending will boost Shopify stock. 
high-potential stocks - 3 High-Potential Stocks on Track to Double by Next Year

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Building wealth takes time, but if you know where to park your money, you can make the most of your investments. The first half of 2024 was exceptional for the stock market, with several high-potential stocks hitting 52-week highs and the S&P 500 and Nasdaq steadily moving higher.

However, you could be wrong if you think the rally is about to stop. The year’s second half will be equally exciting with the much-awaited Fed rate cut. If you want to maximize the stock’s potential upside, three high-potential stocks can double by the end of 2025. Let’s look at them.

Palantir Technologies (PLTR)

In this photo illustration, the Palantir Technologies (PLTR) logo is displayed on a smartphone screen.
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Tech company Palantir (NYSE:PLTR) has become a hot stock since last year. The growing popularity of artificial intelligence (AI) has helped the company see impressive revenue growth. It has managed to attract an envious clientele and could be a winner in the AI race. Palantir has a sturdy portfolio of commercial and government clients and has won their confidence through its Artificial Intelligence Platform (AIP).

Palantir organized boot camps for these boot camps so they could implement the platform and see how their data was handled. This helped with conversions, and the company saw a 42% year-over-year jump in customer count in the first quarter.

Its revenue stood at $634 million, up 21% YOY. The growth in U.S. commercial business is impressive and led to a 68% jump in revenue. Its financial performance has become more predictable, and its profitability is improving steadily. Palantir is one of the best high-potential stocks to own.

Trading at $27, the stock is up 27% year-to-date and has set the momentum for the second half of 2024. The stock isn’t cheap, but its value is justified. PLTR stock has immense potential and a lot of room to run. It is one of the top AI stocks that can double your money by mid-2025. 

Delta Air Lines (DAL)

Inside the airplane cabin of a Delta flight.
Source: EQRoy / Shutterstock.com

Another stock set to double next year is Delta Air Lines (NYSE:DAL). The largest airline in the world, Delta, is making the most of the pent-up travel demand. Summer travel is here, and the Fourth of July weekend was the busiest for travel companies. 

This has set the tone for Delta’s third-quarter results. While there are ongoing concerns about operating costs that could lower the p, Delta has managed to report impressive quarterly numbers. It rode into profit after record sales in the period.

The revenue stood at $12.56 billion and the EPS came in at 45 cents. Its domestic sector revenue increased by 3% YOY and airfare by 1%. It saw a 6% jump in revenue and is already seeing an improvement in the premium travel segment, with the premium revenue growing by 10%. The management aims for a free cash flow of $3 billion to $4 billion and an EPS of $6 to $7 for the year. 

Exchanging hands for $46 today, the stock is up 13% YTD but down 20% from the pre-pandemic highs. With an improvement in the economy and a rate cut, the company will see higher consumer spending and revenue growth. This will help reduce debt while locking in profits.  

The best days for Delta have just begun, and the stock can double your money by the summer of 2025. 

Shopify (SHOP)

Shopify (SHOP) on the phone display.
Source: Burdun Iliya / Shutterstock.com

The third stock to double your money is the e-commerce company Shopify (NYSE:SHOP). Down 8% YTD, the stock is trading at $67, much lower than the all-time high of $166 it hit in 2021. The drop came after the company reported a loss of 21 cents in the first quarter.

The sale of its logistics segment caused this, and the market wasn’t happy with it since investors were expecting a profit. The company’s first-quarter revenue was up 21% year over year, and its gross profit was up 33%. Its monthly recurring revenue also jumped 32% to hit $151 million. 

The company has announced a partnership with Target (NYSE:TGT), through which Shopify’s consumers can join its third-party marketplace, Target Plus. This partnership will open a wide customer base for Shopify, which leads the e-commerce market despite the competition. 

It doesn’t run its stores but allows merchants to run their stores on the platform. This keeps the costs low while ensuring steady growth. It has major brands and small, home-grown businesses that sell on the portal.

Shopify takes a percentage of the sales as a fee and has steadily grown its market share in the industry. As e-commerce spending increases, Shopify is set to benefit. Buy the stock in the dip. 

On the date of publication, Vandita Jadeja did not hold (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.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis.

Article printed from InvestorPlace Media, https://investorplace.com/2024/07/3-high-potential-stocks-on-track-to-double-by-next-year/.

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