High inflation and rising interest rates have dampened investor sentiment, setting in motion a sharp decline in the stock market. During that downturn, HubSpot (NYSE: HUBS) and Global-e Online (NASDAQ: GLBE) have seen their share prices plunge 68% and 76%, respectively, leaving both stocks near 52-week lows.
However, nearly every Wall Street analyst following the companies sees that as a buying opportunity. In fact, the lowest price target on HubSpot is $320 per share, which implies 11% upside from its current price, and 24 out of 29 analysts recommend buying the stock. Similarly, the lowest price target on Global-e is $27 per share, which implies 31% upside for its current price, and eight out of nine analysts recommend buying right now.
Of course, short-term price targets make for a poor investment thesis, but the overwhelmingly bullish outlook on Wall Street is still noteworthy. Here's why these growth stocks are worthwhile long-term investments.
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2 Growth Stocks Down 68% and 76% to Buy Hand Over Fist, According to Wall Street