The allure of growth stocks is hard to resist, especially after the recent eye-popping rally in technology stocks. Additionally, with hopes for multiple rate cuts in 2025 - when the political uncertainty of this year's elections will also be in the rearview - the longer-term outlook for growth stocks looks bright.
With this in mind, top brokerage firm Goldman Sachs (GS) recently shared a list of unprofitable growth stocks that are well on the path towards profitability in 2025. Out of the names Goldman highlighted, the five growth stocks below are all consensus “Buy”-rated on Wall Street, too. Here's a closer look.
#1. Cipher Mining
Based out of New York City, Cipher Mining (CIFR) develops and operates industrial-scale Bitcoin mining data centers in the United States. Essentially, they use large computer facilities to solve complex math problems to verify Bitcoin transactions and earn Bitcoin (BTCUSD) in the process. Its market cap currently stands at $1.31 billion.
CIFR stock is off about 1% on a YTD basis.
Overall, analysts have deemed the stock a “Strong Buy,” with a mean target price of $6.67 - which indicates an upside potential of about 61.9% from current levels.
Out of 7 analysts covering the stock, 5 have a “Strong Buy” rating, 1 has a “Moderate Buy” rating, and 1 has a “Hold” rating.
#2. indie Semiconductor
San Jose-based indie Semiconductor (INDI) designs and manufactures analog and mixed-signal semiconductors for various applications, including consumer electronics, industrial applications, and communications, among others. The company's market cap currently stands at $1.18 billion.
INDI stock is down 23.6% on a YTD basis.
Overall, 7 analysts unanimously recommend a “Strong Buy” for the stock, with a mean target price of $11.08. This denotes an upside potential of roughly 77.8% from current levels.
#3. Aspen Aerogels
Founded in 2001, Aspen Aerogels (ASPN) develops and manufactures aerogel insulation products for various applications, including energy infrastructure, building materials, and transportation, among others. Its market cap is currently $1.87 billion.
ASPN stock has rallied 52% on a YTD basis.
Overall, 10 analysts have unanimously given ASPN stock a rating of “Strong Buy,” with a mean target price of $30.89. This denotes an upside potential of roughly 27% from current levels.
#4. Fluence Energy
Founded in 2021, Fluence Energy (FLNC) is a joint venture between industry giants namely, Siemens and AES. Fluence operates in the energy storage space, offering a range of products and services. Its market cap currently stands at $3.38 billion.
FLNC stock is down 22.6% on a YTD basis.
Overall, analysts have a consensus rating of “Moderate Buy” for FLNC stock, with a mean target price of $29.42 - which denotes an upside potential of about 59.2% from current levels.
Out of 23 analysts covering the stock, 16 have a “Strong Buy” rating, 2 have a “Moderate Buy” rating, 4 have a “Hold" rating, and 1 has a “Strong Sell” rating.
#5. Draftkings
Founded in 2012, Boston-based, Draftkings (DKNG) has evolved from a daily fantasy sports platform to a broader digital sports entertainment company. Their offerings include Daily Fantasy Sports, Online Sports Betting and iGaming. Its market cap currently stands at $32.7 billion.
DKNG stock is up 6.3% on a YTD basis.
Overall, analysts consider DKNG stock a “Strong Buy,” with the mean target price of $51.18 suggesting an upside potential of about 36.4% from current levels.
Out of 30 analysts covering the stock, 25 have a “Strong Buy” rating, 2 have a “Moderate Buy” rating, 2 have a “Hold” rating, and 1 has a “Strong Sell” rating.
