Millionaire Makers: 3 Growth Stocks so Cheap It’s Criminal

These growth stocks are down, but don’t count them out. Each has an incredible potential upside deemed by analysts that could make you millions.

| More on:
money cash dividends

Image source: Getty Images

There’s a reason I use the word criminal in this title today. These growth stocks remain so cheap, so undervalued based on future potential, that I feel like I’m stealing at these prices. But here we are in a market weighed down by uncertainty, volatility, inflation, and a pandemic. These conditions have created a poor stock market, but a prime investing opportunity.

Millionaires in the making

Some of these growth stocks are so low, there will assuredly be millionaires made out of them in the coming years. In fact, next year alone could achieve that goal, if only these three growth stocks return to “normal levels.”

I say normal, because all three are far below where analysts price them. In all three cases, analysts believe these stocks should more than double to reach the target price. Some may triple, or higher, to reach all-time highs once more.

Yet, all are under the weight of those problems I listed earlier. A pandemic causing lower travel and creating volatility of tech stocks; and the worry that the end of the pandemic could mean the end to an entire business. But analysts don’t believe that’s the case for these three growth stocks.

Returning to normalcy

The three growth stocks I’m going to briefly discuss here are Lightspeed Commerce (TSX:LSPD)(NYSE:LSPD), Air Canada (TSX:AC) and Goodfood Market (TSX:FOOD). So first, let’s look at the problems each of these growth stocks are facing.

In the case of Lightspeed, the company is coming back from a short seller report and supply-chain issues that caused the tech stock to drop. However, analysts believe Lightspeed has shown its acquisitions were good investments, with partnerships arising that have already brought in revenue.

For Air Canada, the pandemic brought planes down from the sky. The stock’s share price has yet to lift off higher than $31, and as of writing remains around $20 per share. But it recently returned the remainder of its government package, and now has $7.1 billion in financing in place. It knows how to handle the pandemic, with bookings returning to 2019 levels.

Finally, Goodfood continues to create opportunities to keep customers coming back for more. Breakfast, lunch, dinner, grocery items, and fast delivery created more revenue this year. However, there is so much more room to grow when in comparison to its peers.

What growth could look like

In the next year, here are the target prices for each of these growth stocks. Lightspeed could reach $125, Air Canada $30, and Goodfood $6.80. As of writing, that would represent a potential upside of 136%, 50% and 79% respectively.

However, should these growth stocks reach all-time highs the numbers are even more impressive. Lightspeed could jump 211% to $165 per share, Air Canada 150% to $50 a share, and Goodfood 285% to $14.72 per share!

The numbers are there for these growth stocks. And if you have the cash, you could certainly make millions if these share prices come to fruition in the next year. Time heals all wounds, and in the case of these three growth stocks, could provide an upside that’s a complete steal.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe owns AIR CANADA, Goodfood Market Corp, and Lightspeed Commerce. The Motley Fool recommends Goodfood Market Corp and Lightspeed Commerce.

More on Tech Stocks

Shopping and e-commerce
Tech Stocks

Can Shopify Recover to New All-time Highs in 2022?

With more than 1.7 million merchants on its platform, Shopify (TSX:SHOP)(NYSE:SHOP) is undoubtedly a core platform for SMBs. The company’s software-as-a-service platform …

Read more »

Businessman holding tablet and showing a growing virtual hologram of statistics, graph and chart with arrow up on dark background. Stock market. Business growth, planning and strategy concept
Tech Stocks

The 5 Best High-Growth TSX Stocks to Buy on the Dip

The broader market selling, primarily in high-growth stocks, provides a solid opportunity for investors to buy future winners at lower …

Read more »

Coronavirus written newspaper close up shot to the text.
Tech Stocks

The 2 Best Tech Stocks to Buy Today for Low-Risk Investors

Overvalued tech stocks are undergoing a major correction after inflating on the back of high liquidity from fiscal stimulus packages. …

Read more »

Choose a path
Tech Stocks

Is Ripple Primed for 100% Growth in 2022?

From an investment perspective, most cryptocurrencies seem similar. Almost all of them seem volatile, and while some get more limelight …

Read more »

Tech Stocks

Tech Crash: 2 Tech Stocks Analysts Have Sliced in Half

The TSX has continued to wax and wane over the past week. After a huge fall on Monday, shares started …

Read more »

Hand holding smart phone with online shop concept on screen
Tech Stocks

Shopify Stock Selloff: Could it Turn Around in February?

Shopify (TSX:SHOP)(NYSE:SHOP) continues to be one of the worst-affected stocks amid the ongoing market selloff. After posting its worst weekly …

Read more »

analyze data
Tech Stocks

TFSA Investors: Is the Tech Crash Over?

It’s been a hard time for Tax-Free Savings Account (TFSA) investors already in 2022. Almost immediately after ringing in the …

Read more »

value for money
Tech Stocks

4 Cheap TSX Stocks to Buy Under $50

The recent selloff in equities has led to a sharp pullback in high-quality TSX stocks. Many of these Canadian stocks …

Read more »