Three hot growth stocks under US$1400 for income investors

Highlights

• The total revenue of Shopify Inc. (NYSE:SHOP) increased by 57% YoY in Q2, FY21.
  
  
• Palo Alto Networks, Inc. (NYSE:PANW) expects its revenue to be between US$1.19 billion and US$1.21 billion in Q1, FY22.
  
  
• The revenue of Atlassian Corporation Plc (NASDAQ:TEAM) surged 30% YoY in Q4, FY21.

Growth stocks attract investors for their steady performance. However, past performance doesn't always guarantee whether the stock will rise in the future. But still, their previous performance can help frame an overall picture of their strength and momentum.

Typically, growth stocks record solid earnings and sales growth compared to their industry peers. Hence, many investors are now looking at growth stocks as markets regain pace from covid disruptions. Here were explore three growth stocks that may rise further in the future.

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Shopify Inc. (NYSE:SHOP)

Shopify Inc. is an e-commerce company based in Ottawa, Canada. It runs a cloud-based e-commerce platform, primarily for small and medium-sized businesses.

The stock traded at US$1344.67 at 11:05 am ET on October 6, up 2.02 percent from its previous closing price. Its stock value increased by 20.66 percent YTD. It has a market cap of US$167.53 billion, a P/E ratio of 69.31, and a forward P/E one year of 333.69. Its EPS is US$19.37.

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The 52-week highest and lowest stock prices were US$1,650.00 and US$875.00, respectively. Its trading volume was 787,847 on October 5.

The company's total revenue jumped 57 percent YoY to US$1.11 billion in Q2, FY21. Its net income came in at US$879.09 million in Q2, FY21, or US$7.06 per basic share, compared to US$35.99 million, or US$0.30 per basic share in Q2, FY20.

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Palo Alto Networks, Inc. (NYSE:PANW)

Palo Alto is a cybersecurity company that provides an advanced firewall platform. It is based in Santa Clara, California.

The stock was priced at US$476.51 at 11:13 am ET on October 6, up 0.19 percent from its previous closing price. The PANW stock rose 35.24 percent YTD. The market cap of the company is US$46.83 billion, and the forward P/E one year is -1011.89. Its EPS is US$-5.18.

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The highest and lowest stock prices for the last 52 weeks were US$495.92 and US$219.34, respectively. Its share volume on October 5 was 901,786.

The company's revenue increased by 28 percent YoY to US$1.21 billion in Q4, FY21. However, it reported a net loss of US$119.3 million against a loss of US$58.9 million in the year-ago quarter.

For the full fiscal 2021, it reported a net loss of US$498.9 million on revenue of US$4.25 billion.

The firm projected its revenue to be between US$1.19 billion and US$1.21 billion in Q1, FY22. For full fiscal 2022, it expects its revenue to be between US$5.27 billion and US$5.32 billion.

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Atlassian Corporation Plc (NASDAQ:TEAM)

Atlassian Corporation is a software company based in Sydney, Australia. It offers a range of products for software developers and other related fields in the information technology sector.

Its shares traded at US$393.575 at 11:21 am ET on October 6, up 0.93 percent from its previous closing price. Its stock value grew 68.4 percent YTD. The firm has a market cap of US$99.38 billion and a forward P/E one year of 1218.56. Its EPS is US$-2.80.

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The 52-week highest and lowest stock prices were US$420.23 and US$176.42, respectively. Its trading volume was 1,002,271 on October 5.

The company's revenue was US$559.53 million in Q4, FY21, representing an increase of 30 percent YoY, while its subscription revenue jumped 50 percent YoY to US$386 million. It reported a net loss of US$213.07 million, compared to a loss of US$385.22 million in Q4, FY20.

The firm expects its revenue to be between US$575 million and US$590 million in Q1, FY22.

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Bottomline

The S&P Growth Index rose 16.09 percent YTD, signifying a modest growth of these companies despite the pandemic hurdles. However, investors should evaluate the companies carefully before investing in the stock market.