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5 Hot Growth Stocks: Buy on the Highs or Wait for a Pullback?

  • (0:45) - Should You Be Buying These Stocks At All Time Highs

  • (7:00) - Top Growth Stocks For Your Portfolio Right Now

  • (21:10) - Episode Roundup: CAVA, ANF, LLY, CRWD, DECK

  • Podcast@Zacks.com

 

Welcome to Episode #405 of the Zacks Market Edge Podcast.

Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.

This week, she went solo to look at 5 red-hot growth stocks. These stocks are hitting new all-time highs. But even though they may be priced for perfection, these companies are not disappointing when reporting earnings.

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These 5 companies have outstanding price-and-consensus charts with consistent earnings growth year-over-year.

But buying at the highs is difficult, even for professional investors.

Should you still be buying at the highs or should you wait for a pullback?

5 Hot Growth Stocks: Buy Now or Wait for a Pull Back?

1.      CAVA Group, Inc. (CAVA)

CAVA Group is one of the hottest restaurant stocks on Wall Street. Shares of CAVA are up 113% year-to-date. Earnings are expected to rise 61.9% this year so it is expected to have tremendous growth.

CAVA has been called the “Chipotle of Mediterranean food” by some.

Should you buy CAVA now or wait?

2.      Abercrombie & Fitch Co. (ANF)

Abercrombie & Fitch is having a moment. This specialty retailer is back on trend and saw same-store-sales up 21% last quarter. Shares of Abercrombie & Fitch are up 118% year-to-date to new highs.

But earnings are also expected to soar 47.5% in fiscal 2024.

Should you buy Abercrombie & Fitch now or wait?

3.      Eli Lilly and Co. (LLY)

Eli Lilly shares are soaring to new heights on both weight loss and Alzheimer drug possibilities. Shares of Eli Lilly are up 48% in 2024.

But it also is expected to have incredible earnings growth of 115% in 2024.

Should you buy Eli Lilly at these new highs or wait?

4.      CrowdStrike Holdings, Inc. (CRWD)

CrowdStrike has been a Street favorite for several years. Shares of CrowdStrike are up 48.4% in 2024 to new highs.

But like the other stocks on this list, it has the earnings growth to back it up. Earnings are expected to rise 28.8% this year.

Should you buy CrowdStrike now or wait?

5.      Deckers Outdoor Corp. (DECK)

Deckers has two red hot shoe brands in UGG and Hoka. Shares of Deckers are up 55% year-to-date.

But it’s also the one with the slowest earnings growth. Analysts expect earnings growth of just 4.9% in fiscal 2025 but 12.3% in fiscal 2026. But Deckers is also among the cheaper stocks, with a forward P/E of “just” 34.

Should you buy Deckers Outdoor now or wait?

What Else Should You Know About the Red-Hot Growth Stocks?

Tune into this week’s video podcast to find out.

 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Eli Lilly and Company (LLY) : Free Stock Analysis Report

Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report

Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report

CrowdStrike (CRWD) : Free Stock Analysis Report

CAVA Group, Inc. (CAVA) : Free Stock Analysis Report

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Zacks Investment Research