The stock market has crumbled this year. High inflation and rising interest rates have caused the S&P 500 to dive headlong into a bear market. The broad-based index is currently 21% off its high, but many individual growth stocks have fared even worse. For instance, Shopify (NYSE: SHOP) and Global-e Online (NASDAQ: GLBE) have seen their share prices tumble 80% and 73%, respectively, leaving both stocks near 52-week lows.
However, some Wall Street analysts remain upbeat. Paul Treiber of RBC Capital has a price target on Shopify of $55 per share, 133% higher than its 52-week low of $23.63. And James Faucette of Morgan Stanley has a price target of $51 per share on Global-e Online, which implies 226% upside from its 52-week low of $15.63.
Is it time to buy these growth stocks?
For further details see:
2 Growth Stocks That Could Soar 133% to 226% From Their 52-Week Lows, According to Wall Street