When it comes to building wealth, most financial advisors will eschew stocks for aggressive growth in favor of the Warren Buffett approach; that is, investing in proven but undervalued enterprises with relatively predictable business trajectories.
However, not all of us are blessed with the Oracle of Omaha’s genetics. I mean, I’m not sure how Buffett manages to down his soft drinks and eat his confectionaries without suffering undue consequences. For many of us, we’ve got to get wealth quickly. For this framework, we’ve got to turn to stocks for aggressive growth.
Believe me, I’m not advocating a reckless approach – far from it. However, if you want or need to accelerate your time frame for profitability, you’ve got to take risks. With that context in mind, below are intriguing stocks for aggressive growth.
SoundThinking (SSTI)
One of the most important companies based on contemporary developments, SoundThinking (NASDAQ:SSTI) is a technology firm known for its gunfire locator service. Per its public profile, the company claims it can identify gunfire sounds and help dispatch law enforcement officers. However, the business isn’t without controversy. Per an NPR report, it’s allegedly inaccurate, ineffective, and possibly biased.
Given its challenging reputation, SSTI stock lost about 26% of market value since the start of the year. Over the past 52 weeks, shares slipped more than 51%. However, the rise in gun violence demands action. Therefore, analysts believe that in 2024, SoundThinking’s revenue will reach $105.11 million, up 13.4% against the prior year’s result. In 2025, sales could rise even more to $114.56 million.
And that’s the average tally. The most optimistic target calls for 2024 sales to hit just over $106 million and for 2025, $121.6 million.
For those who want to take the chance, Wall Street rates SSTI a consensus strong buy. The average price target lands at $24.83, implying 40% upside potential. Thus, it could be an intriguing play for stocks for aggressive growth.
Nerdy (NRDY)
As the leading curated platform for live online learning, Nerdy (NYSE:NRDY) offers a compelling narrative for stocks for aggressive growth. As an AP reported noted last year, American students are falling behind despite efforts to recover from the Covid-19 pandemic. Longer term, this dynamic has huge implications as other countries are pushing the pedal to the metal regarding education.
Potentially, platforms like Nerdy can help with its focus on tutoring and other academic-related services. That’s likely why analysts project revenue in 2024 to reach just over $238 million, representing a 23.1% lift from the prior year. Moreover, in 2025, the company may see sales of $291.51 million. That would be a 22.5% lift from 2024’s projected sales.
Notably, Nerdy enjoys a three-year revenue growth rate of 17.1%, beating out 69% of its peers. Nevertheless, NRDY stock trades at a modest trailing-year revenue multiple of 1.51X.
In closing, analysts peg shares as a strong buy with a $4.66 price target, projecting over 55% upside potential.
BlackSky Technology (BKSY)
Billed as a real-time, space-based intelligence company, BlackSky Technology (NYSE:BKSY) delivers on-demand, high-frequency imagery and analytics to its clients, which encompass U.S. and international government agencies, commercial businesses and other organizations globally. It also offers high-frequency monitoring of the most critical and strategic locations, economic assets and events.
According to Allied Market Research, the commercial satellite imaging market reached a valuation of $3.3 billion in 2021. Further analysts project that from 2022 to 2031, the sector could expand at a compound annual growth rate (CAGR) of 11.3%. At the forecast culmination, the industry could be worth $9.2 billion.
The growth opportunity isn’t lost on Wall Street, who anticipate BlackSky’s revenue to hit just over $116 million this year. If so, that would represent a 22.8% lift from last year. Also, in 2025, experts project sales to reach over $146 million.
Covering analysts rate shares a unanimous strong buy. As well, their average price target stands at $3.50, implying almost 147% upside potential. Therefore, BKSY is one of the stocks for aggressive growth.
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.
