3 unstoppable stocks that can double your money, according to Wall Street

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If you’re looking for stocks that can deliver big gains in a relatively short period of time, you have a lot of great options right now. Fear of a global economic slowdown following a years-old pandemic and a months-long war in Ukraine has pushed heaps of growth stocks to prices unimaginable just a few months ago.

The economic pain that soaring energy prices will inflict on Europe is going to be a drag on all industries. That said, companies like Matterport (MTTR -6.39%), Reached (UPST -5.78%)and Fiver International (FVRR -8.43%) are so well positioned for continued growth that Wall Street analysts believe these three stocks can more than double your money. Here’s why.

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Fiver International

Shares of this growth stock soared in 2020 and 2021 as pandemic-related lockdowns accelerated the transition from traditional employment to the gig economy. Since peaking last summer, Fiverr’s stock price has fallen 81%.

Wall Street analysts are still extremely bullish on Fiverr and believe it can rebound. The average target on Fiverr is a 130% premium to recent prices.

Fiverr isn’t down because it’s struggling to execute a growth strategy. In the first quarter, Fiverr reported 56% more active buyers than in the prior year period. Additionally, the average shopper spent 22% more than a year earlier.

Fiverr shares are down as many of its freelancers and freelance service buyers live in Ukraine and Russia. There are also fears that a global economic slowdown caused by soaring fuel prices could limit general demand for self-employment.

The important thing to remember about Fiverr is that its competitors, such as Upwork have the same problems. With positive cash flow and unique tools that make it easier for buyers and freelancers to collaborate, Fiverr has a good chance of staying on top.

Reached

This fintech stock has reached unimaginable heights after its stock market debut at the end of 2020. Unfortunately, Upstart shares have fallen about two-thirds since they peaked last summer.

Investment banking analysts agree a big rebound is in the cards. The consensus price target for Upstart represents a 106% premium to its current price.

Banks, credit unions, and car dealerships hire Upstart to assess individual credit risk. The company presents an alternative to the 3-digit code FICO score that lenders have been using for decades. Upstart’s credit scores use artificial intelligence to analyze more data points than a FICO score. This helps lenders connect with creditworthy borrowers who may have fallen through the cracks.

There are concerns that recently issued loans are not being repaid as reliably as they were when Americans were still receiving COVID-related stimulus checks and enhanced unemployment benefits. If delinquency rates on new loans stabilize, we will continue to see lenders shove their way to Upstart’s door and send the stock soaring again. Investors can also expect growing demand through continued expansion from the limited personal loan market to the much larger auto loan space.

Matterport

Shares of this metaverse stock are down 85% from their peak last fall. Wall Street analysts who follow Matterport expect a recovery soon. The average target at the moment is 104% above its last closing price.

Creating digital twins of spaces that exist in the real world is a burgeoning industry led by Matterport. Unfortunately, slowing growth in the last three months of 2021 weighed on the stock.

The rapid growth rate shown by Matterport when COVID restrictions kept more of us indoors was temporary. That hasn’t stopped this business from growing by leaps and bounds. At the end of 2021, the company had almost twice as many subscribers as a year earlier.

In the fourth quarter, the number of digitized real spaces managed by Matterport also soared 56% year-over-year to 6.7 million. Currently, Matterport manages over 99% of all real-world locations that have been digitized for use in the metaverse. With a huge lead over the competition, it’s no wonder that expectations for this company are still very high.

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