Global-E Online (GLBE) and Snowflake (SNOW) are lesser-known stocks with high growth potential.

From Nasdaq: 2024-05-16 17:57:35

Despite popular tech stocks like Amazon, Meta Platforms, and Nvidia, some lesser-known stocks offer high growth potential. Global-E Online (GLBE) and Snowflake (SNOW) are two such stocks to watch. GLBE is a cross-border e-commerce platform with double-digit revenue growth, while SNOW specializes in data management and AI. Analysts predict both stocks could soar by 25% to 53% in the next year, making them attractive options for investors.

Global-E Online (GLBE) provides end-to-end international e-commerce solutions with strong financial performance and growth. Revenue has grown at a compounded annual rate of 54%, reaching $569.9 million in 2023. Despite a net loss in 2023, analysts expect GLBE to turn a profit in 2024 and 2025, with potential for significant growth. Wall Street is bullish on GLBE, rating it a “strong buy.”

Snowflake (SNOW) offers a cloud-based data platform used by various industries and reporting strong revenue growth. In fiscal Q4 2024, the company’s total revenue reached $774.7 million with a net revenue retention rate of 131%. SNOW maintained solid financials and reduced losses in Q4, setting the stage for future profitability. Analysts foresee significant earnings growth for SNOW by fiscal 2025 and 2026. Wall Street gives SNOW a “moderate buy” rating, with price targets indicating upside potential over the next 12 months.



Read more at Nasdaq: 2 Stocks Flying Under The Radar That Could Soar This Year