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June 24, 2021, 10:50 a.m. EDT

Hot Stocks To Buy Right Now? 5 Growth Stocks To Watch Before July 2021

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[Read More] Best Dividend Stocks To Buy Today? 3 To Watch Before July 2021

Up Fintech

Up Fintech has been a big winner in the white-hot fintech industry lately, with its stock surging nearly 50% over the past month. The company is also known as "Tiger Brokers" in Asia. Its trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. Furthermore, it offers its customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, account management, and investor education.

In May, the Chinese fintech company posted record-high financial figures for the first quarter of 2021. Total revenue came in at $81.3 million, representing a staggering 255% increase year-over-year. Also, the non-GAAP profit was $23.5 million, 22 times that of the first quarter of 2020. Up Fintech has been able to benefit from the customer influx by lowering its relative spending and improving margins. Given the impressive financial numbers, could TIGR stock be a multi-bagger growth stock in the making?

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Vertex Pharmaceuticals

Vertex is a global biotech firm that specializes in medicine development for critical diseases. It has a strong moat in its core market. The company's game-changing cystic fibrosis (CF) drugs are the only drugs in the market that can treat the underlying cause of the rare disease. This alone could provide a significant stream of revenue to Vertex in the coming years.

From its first-quarter report, revenue came in 14% higher year over year while it reported an increase of 8% in net income. Trikafta remained the company's top-selling drug during the quarter, bringing in total revenue of $1.2 billion. What's equally exciting is Vertex's growing cash pile. As of the end of March, the company had $6.9 billion of cash. This provides ample resources for Vertex to work on new partnerships and even acquire other companies. The stock may have taken a beating earlier in June after disappointing results of VX-864, a drug intended to treat a rare genetic disease. But could it be an opportunity for investors to buy VRTX stock at a discount?

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Roku

Video streaming platform Roku is also another growth stock to watch in the stock market today. The company's stock price had a boost this week following favorable comments from Alan Gould, an analyst at Loop Capital. He raised his price target on ROKU stock to $475, implying a potential 12% increase from its current valuation. For the uninitiated, Roku facilitates content from most mainstream video streaming services, allowing them access to more potential subscribers. The company has so far done an excellent job by maintaining a neutral platform.

All this would strategically position Roku to grow regardless of which streaming company comes out on top. It is no secret that ROKU stock has been performing relatively well over the past year. It is seeing gains of over 240% in this period. From its first-quarter report, revenues rose 79% from the year-ago quarter to $574.2 million. Furthermore, usage was strong, as Roku added 2.4 million accounts in the quarter. That increased the number of accounts on the platform by 35% year-over-year. Considering the company's strong financial profile, is ROKU stock a top growth stock to buy now at its current valuation?

COMTEX_388784554/2688/2021-06-24T10:49:43

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

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