3 Growth Stocks to Buy With $1,000 Right Now
Growth stocks have gotten the wind knocked out of them over the past year on fears that the global economy is slowing down. That could impact the growth rates of companies with more economically sensitive businesses.
However, some companies are relatively immune to economic downturns because they're benefiting from longer-term growth trends that likely won't slow during a recession. That makes them ideal growth stocks to buy now that their stock prices are lower. Three that stand out as good buys right now for those with around $1,000 to invest are Palo Alto Networks (NASDAQ: PANW), Prologis (NYSE: PLD), and NextEra Energy (NYSE: NEE). They're relatively low risk and have lots of visible growth ahead.
Palo Alto Networks is a global leader in cybersecurity. The company is growing rapidly, powered partly by its next-generation security innovations. Revenue was up 29% in its last fiscal year, driven by 60% growth in next-gen security offerings. Meanwhile, the company is converting one-third of every dollar of sales into free cash flow. That's giving it the cash to continue innovating and repurchasing its stock.
Source Fool.com
