Identifying high-growth stocks with the potential to deliver 900% returns in a decade is extremely difficult. Very few companies can achieve this, though it is certainly not impossible. 

In fact, there have been several stocks with higher returns in a shorter period. Some that come to mind include Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), and Netflix (NASDAQ:NFLX). These companies are innovators in their respective industries, and early investors made a killing. 

By 2035, there will be a list of companies to look back on that investors will kick themselves for not buying. Both Wall Street and retail investors are well aware of them, but their long-term growth prospects can often be misunderstood. However, with a keen focus on earnings, EBITDA, and free cash flow potential, investors have the chance to spot these new entrants early. 

Now, let’s discover the top 3 high growth stocks to buy for a 9X return or more by 2035!

Spotify (SPOT)

Spotify (NYSE:SPOT) stands out as one of the best high-growth stocks to buy in 2024. The company recently reported its second-quarter earnings, delivering robust user growth, revenue, and earnings.

Spotify is a once-in-a-lifetime business that got an early footing in the digital music streaming business. Its user and premium subscriber growth over the last several quarters has been unprecedented, posting double-digit gains across all regions. Additionally, management’s strategic focus on driving profitability has directly translated to higher free cash flow and liquidity.

After reporting triple-digit earnings growth in the first quarter, its streak of strong financial results continues. In Q2 FY24, Spotify’s monthly active users (MAUs) increased 14% year over year to 626 million. Premium subscribers rose 12% from the year prior, with gross margins up 510 basis points to 29.2%. Finally, its operating and free cash flow both hit records of  $266 million and $490 million, respectively. With the company advertising business gaining steam, SPOT stock could be setting up for a multi-year bull run in 2024.

Arista Networks (ANET)

Arista Networks (NYSE:ANET), a pioneer in cloud networking solutions, has been at the forefront of the AI revolution. Its high-performance networking products are integral to meeting the demands of data centers, hyperscale cloud environments, and AI workloads.

Demand for cloud networking for large data centers and AI campus environments is driving momentum forward for Arista’s business. Its revenue, earnings, and free cash flow growth since the 2020 COVID-19 pandemic has truly been astonishing. Moreover, its highly coveted products, which include data center switches and routers, include ultra-low latency. This is extremely important for its customers looking to optimize performance and efficiency.

In its latest quarterly results, revenue increased 16% year over year to $1.57 billion. In addition, net earnings rose 46% year over year to $638 million, with gross margin up 420 basis points to 63.7%. The company’s robust free cash flow growth in the 2023 fiscal year is a positive sign for the business. Especially as it develops new networking products to capitalize on the AI boom. This will yield positive results as the company continues to progress over the next decade.

Godaddy (GDDY)

Godaddy (NYSE:GDDY) is among the best high-growth stocks with the potential to deliver extraordinary returns. After its recent inclusion in the S&P 500 Index, Godaddy could be the dark horse that propels your investment portfolio to the moon by 2035. 

Godaddy’s long-term growth potential will be determined by the growth of small and midsize enterprises (SMEs) over the next decade. As the largest domain registrar in the world, Godaddy is integral to businesses launching websites and an online presence. However, the company’s rapid growth will be contingent on its ability to continue growing its marketplace, earnings, and free cash flow.

Right now, it seems to be doing a lot of these things correctly, providing greater confidence in its future. Its revenue and earnings both hit record highs in FY23, with free cash flow exceeding $1 billion for the first time. It also started off 2024 on a strong note, with management reporting a 749% increase in its earnings. As the company diversifies its product offerings and more businesses come online, Godaddy will undoubtedly be one of the major beneficiaries.

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 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.