One of the drawbacks of my job is that I can't always buy the stocks I want when I want. My contracts have certain trading restrictions that bar me from buying and selling specific stocks for a period. So I haven't been able to buy more shares of some of my favorite growth stocks.
However, those restrictions will lift at some point in 2022, and I can't wait. I'm eager to add to my positions in Fiverr (NYSE:FVRR), Hubspot (NYSE:HUBS), and Zscaler (NASDAQ:ZS) because they're tapping into enormous market opportunities, providing them with nearly unstoppable growth potential.
Image source: Getty Images.
Winning from the shift in how we work
Fiverr is a global marketplace that connects freelancers with businesses seeking digital services like graphic design, digital marketing, and video. Freelancing is already a massive market, as U.S. freelancer income alone is above $815 billion. In Fiverr's estimate, its addressable market opportunity is over $115 billion and growing. More people are leaving their jobs every day to work for themselves as the Great Resignation gains steam.
Fiverr is just scratching the surface of this massive and growing market opportunity. The company is on track to generate upwards of $295.4 million in revenue in 2021, a blazing 56% ahead of 2020's tally. It's adding buyers and sellers of digital services at breakneck speed, which should continue for years to come as more people and businesses turn to freelancing. Meanwhile, it's steadily expanding its total addressable market opportunity by adding more skill types, growing its geographic footprint, and tapping into new groups of buyers and sellers of services. With multiple catalysts, Fiverr looks poised to deliver years of unstoppable growth.
Aiming to help millions of companies grow
HubSpot developed a software-as-a-service (SaaS) platform that helps clients attract, engage, and delight their customers. It has the bold aim of helping millions of organizations grow better. With less than 130,000 customers as of the third quarter, it has plenty of room to run.
HubSpot started as a marketing app. It has evolved into a platform that currently includes marketing, sales, service, CMS, and operations hubs. It aims to add more in the future. It's still in the early days of growing these hubs as 42% of customers are only using a single hub, while 27% only use two. That provides it with lots of opportunities to expand its existing relationships. That's on top of the growth it sees ahead by bringing new customers into its hubs. In HubSpot's view, its multiple market opportunities can support around a 30% annual revenue growth for years to come.
Securing how we access information
Zscaler built a cloud-based cybersecurity system for the cloud. Its zero trust exchange connects users to apps, not corporate networks. It also makes apps invisible and doesn't allow passthrough connections. These features are crucial for protecting users and data in today's mobile-first world.
Zscaler is on track to generate $1 billion of revenue in the current fiscal year, which would be up nearly 50% year over year. That leaves lots of room to grow. The company sees a $72 billion opportunity in its current target markets and an even bigger longer-term opportunity. It has multiple growth drivers, including growing its customer count and expanding existing relationships, expanding its functionality and new technology innovation, and expanding into new geographies and customer types.
Tapping into enormous growth opportunities
Fiverr, HubSpot, and Zscaler are still in the early stages of growth. All three companies have massive total addressable markets, setting the stage for years of fast-paced growth. I want to add more of these unstoppable growth stocks to my portfolio, which is why I can't wait to be able to buy them in 2022.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. 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.
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January 02, 2022 at 10:15PM
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