This post will analyse thirteen consumer stocks with high growth rates. You may skip our industry summary and get directly to the Five High-Growth Consumer Stocks to Buy section.
The stock market consists of numerous sectors, each with its own characteristics. Consumer discretionary and consumer staples are two distinct stock market categories that cater to distinct consumer preferences and demands. Yet, the stocks in these sectors can be classified as consumer stocks because the companies in these sectors provide services and products to common customers.
When consumers have discretionary income, they may purchase non-essential products and services, such as luxury items, entertainment, and vacations. These businesses have a tendency to be more cyclical in nature and are affected by the overall economic climate. Amazon.com Inc. (AMZN), Tesla Inc. (TSLA), and LVMH Moet Hennessy Louis Vuitton SE are examples of equities in the consumer discretionary sector (LVMHF).
Consumer staples stocks, on the other hand, are shares of companies that sell things like food, drinks, and household items that people need no matter what the economy is doing. These companies are usually less cyclical and are thought of as defensive stocks that may do well when the economy is bad. Procter & Gamble Co (PG), Nestle SA (NSRGY), and Coca-Cola Co (KO) (KO) are all examples of consumer discretionary stocks.
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Companies that make consumer staples are usually well-known, have a strong brand value, and have been in business for a long time through all types of economies. Most of the time, these companies pay dividends, making them good investments for people who want to make money with little risk. In 2022, the S&P 500 consumer staples sector (.SPLRCS) did better than the rest of the market because investors were looking for safe companies after the Federal Reserve started raising interest rates.
The effect of higher interest rates and a decelerating economy was visible in consumer discretionary stocks as consumers curtailed spending and prioritised saving. In 2022, the value of the consumer discretionary subindex fell dramatically by more than 37%. As a result of soaring inflation and a weakening economy, consumers now prioritise spending their money on necessities such as rent and food over non-essentials. This is the reason why consumer staples stocks have remained robust despite an equity market decline. The Consumer Staples Select Sector SPDR Fund has underperformed the market by a wide margin over the past year, declining by only 0.35 percent.
Our Methods
We have used stock screeners to discover thirteen high-growth consumer stocks to buy in order to come up with a list of thirteen high-growth consumer stocks. We screened for stocks with at least $500 million in market capitalization and at least a 30% year-over-year revenue increase. The year-over-year growth statistic used to screen equities determines the percentage change in trailing twelve-month revenues compared to the preceding twelve-month period. We then ranked the companies according to their revenue growth in ascending order.
13. EVgo, Inc. (NASDAQ:EVGO) Revenue Increase Year-Over-Year: 783.6%
EVgo, Inc. (NASDAQ:EVGO) operates a network of direct current (DC) fast-charging stations in the United States. The company’s services are offered at its deployed locations. Many supermarket chain stores, shopping complexes, parking lot operators, hotels, gas stations, independent property owners, and local governments work with EVgo, Inc. (NASDAQ:EVGO) to deploy its EV charging stations. EVgo, Inc. (NASDAQ:EVGO) maintains over 850 fast charging stations in over 30 states and 60 cities.
In addition to EVgo, Inc. (NASDAQ:EVGO), our list of 13 high-growth consumer stocks to purchase includes Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND), Solid Power, Inc. (NASDAQ:SLDP), and Celsius Holdings, Inc. (NASDAQ:CELH).
According to the database, 17 hedge funds held $15 million worth of EVgo, Inc. (NASDAQ:EVGO) in the fourth quarter of 2022, compared to 14 firms in the previous quarter who had $31 million worth of shares.
12. Cal-Maine Foods, Inc. (NASDAQ:CALM). Annual sales increase of 78.76%
Cal-Maine Foods, Inc. (NASDAQ:CALM) is a United States-based producer of fresh eggs. The company offers unique shell eggs, such as cage-free, organic, nutritionally improved, and brown eggs. These items are available under a variety of brand names, including Eggland’s Best, Inc., Land O’Lakes, Inc., 4-Grain, and Farmhouse Eggs.
Cal-Maine Foods, Inc. (NASDAQ:CALM) has approximately 42.2 million layers (mature female chickens) and 11.5 million pullets (female chicks less than 18 weeks of age) and breeders as of May 28, 2022. (male and female chickens used for breeding)
11. Xometry, Inc.’s (NASDAQ:XMTR) year-over-year revenue growth was 84.95%.
Xometry, Inc. (NASDAQ:XMTR), based in the United States, offers a marketplace for industrial parts. The company offers a platform for procuring manufactured components on demand. The platform provides access to CNC equipment, sheet metal, 3D printers, and injection moulding machines. Xometry, Inc. (NASDAQ:XMTR) gives access to more than 2,000 manufacturing workshops in over 25 European nations.
On January 31, 2023, Greg Palm, an analyst at Craig-Hallum, gave Xometry, Inc. (NASDAQ:XMTR) a buy rating and a price target of $48.According to the analyst, the company is on the $48. achieving EBITDA profitability due to its rapidly increasing revenue and gross margin.
10. Li Auto Inc. (NASDAQ:LI) Year-over-Year Revenue Growth: 86.29 %
Li Ion Battery Inc. (NASDAQ:LI), headquartered in China, is an electric vehicle manufacturer. The company designs, manufactures, and sells new energy vehicles (NEVs) in China. Two flagship model series are available from the company: the Li series and the Ideal series. Each series contains four unique models: the L7, L8, L9, and One. In addition, Li Automotive, Inc. (NASDAQ:LI) offers services connected to the development of technology, sales management, and corporate management.
Citi analyst Jeff Chung raised his price objective for Li Auto Inc. (NASDAQ:LI) from $48 to $51.50 on February 9, 2023, while maintaining his Buy rating on the stock. After the new products came out, the analyst changed his sales forecast for the company for 2023 from 210,000 units to 235,000 units.
According to the database, 25 hedge funds held $690 million worth of Li Auto Inc. (NASDAQ:LI) in the fourth quarter of 2022, compared to 20 firms in the previous quarter who held a $1 billion holding.
9. Rover Group, Inc. (NASDAQ:ROVR) Revenue Increase Year-Over-Year: 88.31%
Rover Group, Inc. (NASDAQ:ROVR) is a United States-based online pet care provider. The organisation provides pet care services such as dog walking, training, and grooming. Rover Group, Inc. (NASDAQ:ROVR) has more than 500,000 pet sitters across Europe and North America.
On January 11, 2023, JMP Securities analyst Andrew Boone lowered his price target for shares of Rover Group, Inc. (NASDAQ:ROVR) from $8 to $6 while keeping his Outperform rating.The analyst thinks that travel demand slowed in the second half of 2022, which is why he is taking a more cautious approach to his predictions for next year.
8. Luminar Technologies, Inc. (NASDAQ:LAZR) Annual sales increase of 90.25 percent
Luminar Technologies, Inc. (NASDAQ:LAZR) is an American software and automotive technology firm. Luminar Technologies, Inc. (NASDAQ:LAZR) operates in the autonomous solutions and autonomous components markets. The company manufactures and markets lidar (laser imaging, detection, and range) as well as other autonomous and perception products, primarily for original equipment manufacturers (OEMs) in the automotive industry and adjacent industries. The products include an Iris lidar hardware device and a Sentinel full-stack solution.
Citi analyst Itay Michaeli dropped the price target on Luminar Technologies, Inc. (NASDAQ:LAZR) from $21 to $20 on December 7, 2022, while maintaining a Buy rating on the stock.
7. Membership Collective Group Incorporated (NYSE:MCG) Year sales increase of 97.08%
Membership Collective Group Inc. (NYSE:MCG) operates a global membership platform that connects individuals in digital and physical venues. Members are supplied with a platform where varied individuals can interact, socialise, work, and thrive. Membership Collective Group Inc. (NYSE:MCG) operates 38 Soho Houses, nine Soho Works clubs, Soho Home, and the Scorpios Beach club in Mykonos.
Roth Capital analyst George Kell initiated Membership Collective Group Inc. (NYSE:MCG) coverage on January 18, 2023, with a $7 price target and a Buy rating. With the controllable debt and management’s focus on profitability, the analyst predicts that the company will quickly regain its footing.
6. XPeng Inc. (NYSE:XEV) Year-over-Year Revenue Growth: 98.06%
XPeng Inc. (NYSE:XPEV) is a Chinese manufacturer of intelligent electric vehicles. In addition to designing, manufacturing, marketing, and selling smart electric vehicles and their components, the company also provides financing and maintenance services. The company’s product lineup comprises SUVs, sports sedans, and family cars. XPeng Inc. (NYSE:XPEV) has also created an ADAS (advanced driver assistance system) for vehicles called Xpilot, which is a smart hardware-based operating system.
Yuqian Ding, an analyst at HSBC, lowered his price objective on XPeng Inc. (NYSE:XPEV) from $34 to $15 on December 13, 2022, while maintaining his Buy rating on the stock. The analyst anticipates that the company’s reorganisation will generate more value.
5. Dream Finders Homes, Inc. (NYSE:DFH) Year Sales Increase of 101.90 %
Dream Finders Homes, Inc. (NYSE:DFH) is a United States-based homebuilding and construction corporation. The company designs, builds, and sells homes for entry-level, first-time, and move-up buyers. The organisation is also a qualified insurance broker and provider of financial services. Dream Finders Homes, Inc. (NYSE:DFH) serves 20 markets in 8 states.
4. Celsius Holdings, Inc. (NASDAQ:CELH) Year sales increase of 136.04%
Celsius Holdings, Inc. (NASDAQ:CELH) operates in North America, Asia, Europe, and other regions. The company provides non-carbonated and carbonated beverages, dietary supplements, functional energy drinks, and energy drinks in powdered form. Celsius Holdings, Inc. (NASDAQ:CELH) sells its products under a variety of brand names, including Celsius, Celsius Heat, Celsius-Stevia, Celsius BCAA, Celsius On-the-Go, Heat On-the-Go, and Fast.
On February 6, 2023, Wedbush Securities analyst Gerald Pascarelli boosted his price target on Celsius Holdings, Inc. (NASDAQ:CELH) from $95 to $115 and improved his rating on the company’s shares from neutral to outperform. According to the analyst, the recent share price dip gives an attractive entry point for any investor interested in investing in the consumer packaged goods sector’s greatest growth narrative.
3. Allego N.V.’s (NYSE:ALLG) year-over-year revenue growth is 183.15%.
Allego N.V. (NYSE:ALLG), headquartered in the Netherlands, provides charging solutions for electric vehicles (EVs). The company provides charging stations powered by renewable energy as well as charging solutions for B2B customers. In addition, the business offers a cloud-based payment solution to both its own and third-party customers. Allego N.V. (NYSE:ALLG) operates a network of over 40,000 charging stations in Europe. Allego N.V. (NYSE:ALLG) collaborates with Géant Casino, Van der Valk, and Hem Gas Stations, among others.
2. Solid Power, Inc. (NASDAQ:SLDP) Year-over-Year Revenue Growth: 282.88%
Solid Power, Inc. (NASDAQ:SLDP) is an American company that develops solutions for energy storage. The company provides solid electrolyte materials and solid-state battery cells for electric cars powered by batteries. Solid Power, Inc. (NASDAQ:SLDP) has teamed with BMW AG (BMW.DE) and Ford Motor Company (NYSE:F) to develop and manufacture all-solid-state batteries.
1. Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND). Annual sales increase of 350.55%
Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) is an adventure cruise and land travel company based in the United States. There are two functioning segments: Lindblad and Land Experiences. The company’s fleet of sixteen expedition ships sails to isolated, opulent locations throughout the globe. Alaska, the Arctic, Antarctica, Baja California, Costa Rica, and the Galápagos Islands are among the most popular destinations. Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) partners with Natural Habitat, Off the Beaten Path, DuVine Cycling + Adventure Co., and Classic Journeys to offer a variety of cycling and land-based adventure excursions.