2 Monster Growth Stocks to Buy in 2024 Before They Rise Further

In 2024, investors' hopes for a long bull market are evident across industries as the 2023 market rise continues. Long-term investors don't like market swings, but they don't influence their goals.  

Longer-term investors don't prioritize market timing. Even if a stock buyer buys in at the correct time to earn a great return, they will eventually find it difficult to replicate often enough to continue that level of return. A long-term investor knows the best strategy is to diversify and add to positions in strong companies regardless of the stock market. Two outstanding companies that could be monster growth stocks worth buying and owning long-term are listed here.  

1. Duolingo Learning apps and language certification are offered by Duolingo (NASDAQ: DUOL). Music, arithmetic, and 40 languages are taught by the tech corporation. It's the world's most profitable language-learning app.  

The company's share prices have risen 60% in the past year, reflecting its success. The fact that the language learning market is predicted to reach $188 billion by the early 2030s fuels anticipation. That's a big jump from $71 billion.  

Duolingo is expanding beyond language learning to expand its education tech presence. It introduced math and music to the app in late 2023, and more may follow. Duolingo's improved financials and GAAP profitability also boost market enthusiasm. Ad-based free tier or subscription to Duolingo's instructional programs.  

Duolingo earned $531 million in 2023, $496 million from subscription bookings. Both figures rose 44% and 49% from 2022. Duolingo's 2023 reservations reached $622 million, up 45%. 2023's net income was $16 million, up from 2022's $60 million deficit. 2023 free cash flow was $144 million, up 213% from 2022. Duolingo has 26.9 million daily and 88.4 million monthly users. Both numbers were up 65% and 46% from last year.  

Wall Street analysts believe the stock might rise 21% on the median and 31% on the high end in the next year. Taken as a whole, this is a profitable business with huge growth potential in a huge, rapidly expanding addressable market. There may be a compelling buying opportunity for long-term investors.  

2. Intuitive Surgery Intuitive Surgical (NASDAQ: ISRG) leads surgical robots. This space might be worth $20 billion by 2030, according to some analysts. The precision and improved patient outcomes of surgical robotics systems are in demand. Intuitive's products and services are used in open and minimally invasive surgery. Intuitive Surgical benefits from industry growth, which it dominates. Its innovative business approach boosts sales and profits.  

A surgical robotics suite is a big expenditure for a hospital or medical system. Intuitive Surgical systems cost $700,000–$2.5 million. Customers can buy these systems outright through leases or usage-based agreements. Each system has particular tools and accessories that must be changed after a set number of usage. The company earns $700 to $3,600 from instrument and accessory sales for each surgery using one of its systems.  

Customers that lease or buy systems from Intuitive Surgical usually sign service contracts. Annual suite costs range from $80,000 to $200,000 per system under those arrangements. A variation on the razor and blade sales strategy, most revenue comes from blade sales. Intuitive Surgical earned $7.1 billion in 2023, up 15% from 2022. In 2023, 83% of Intuitive Surgical's revenue was $5.94 billion from recurring revenue (blades).  

The company's recurring revenue percentage has continuously increased. In 2022, 79% of Intuitive Surgical's revenue was recurring, up from 75% in 2021. In 2023, Intuitive Surgical earned $1.8 billion, up 35%. In the past year, the company generated $780 million in free cash flow.  

Although few stocks make you rich fast, this is a respectable business that may generate sustainable returns over time. With the market's rise, investors seem to have rediscovered the stock, sending shares up 50% in the past year. Long-term investors may want to reconsider this top healthcare stock.  

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