The stock market continues to hit new record highs, with investors eagerly seeking out unstoppable growth stocks to buy in March. These stocks can present a first-class ticket to wealth, even for the less experienced participants.
Fueled by strong fundamentals and exceptional management teams, these companies have the potential to deliver substantial returns over the long term. However, it won’t always be sunshine and rainbows, and there will definitely be hiccups along the way. By diversifying and strategically positioning your portfolio with these high-growth opportunities, investors can unlock the potential for significant wealth accumulation.
Now, let’s discuss the top three unstoppable growth stocks to buy in March!
Marriott International (MAR)
Marriott International (NASDAQ:MAR) is a leading hotel chain in the hospitality industry that has been thriving in a post-pandemic world. They boast a diverse portfolio of nearly 8,700 properties across 139 countries under iconic brands like Ritz-Carlton, JW Marriott and Marriott Bonvoy.
Marriott’s business has seen a remarkable turnaround since the global pandemic, which had severed the hospitality and travel sectors. When the economy came to a screeching halt, the hotel industry lost billions, and Marriott’s revenue fell over 50% in the 2020 fiscal year. However, it has since been up from there, and the company has been thriving. Additionally, the macroeconomic environment is becoming more favorable for the travel industry as the Federal Reserve anticipates at least three rate cuts in 2024.
In FY23, revenue increased 14% YOY to $23.71 billion. Marriott added 81,300 rooms across all operations, with revenue per average room (RevPAR) up 15%. The company continues to see strong growth in international markets, with particular strength in Asia and Europe. Furthermore, the U.N. Tourism projects international travel to finally return to pre-pandemic levels in 2024. That is a strong signal for growth ahead.
Paychex (PAYX)
Paychex (NASDAQ:PAYX) is undoubtedly one of the top growth stocks to buy in March. The world of work is undergoing a metamorphosis, making way for human capital management software like Paychex.
Paychex continues to benefit from the rise of the gig economy and remote work, which is needed to meet the growing demands of the marketplace. The demand for payroll and HR solutions remains constant regardless of economic conditions. Businesses, especially small and medium-sized enterprises, often source these functions to focus on their core business. Moreover, Paychex has consistently grown its revenue and EPS over the last decade, and its operating margins remain robust.
In its latest quarterly results, revenue rose 6% YOY to $1.26 billion. Net income increased 9% YOY to $392.7 billion, or $1.08 per share. Additionally, the operating margin expanded to 40.2%, compared to 39.7% in the same quarter from the prior year. The company’s liquidity remains strong, with approximately $1.4 billion in cash and short-term securities, and raised its full-year earnings outlook for the 2024 fiscal year. Paychex allows investors to gain exposure to a recession-proof business model, backed by strong financial performance and a healthy dividend payout.
Oracle (ORCL)
Oracle (NYSE:ORCL), the emerging cloud computing giant is a major contender in the AI cloud infrastructure market. The company is just beginning to hit its strides and is actively working to meet the growing demands of AI workloads.
While Oracle has been hailed as an “AI stock” in recent years, it is far more than that. The company offers a wide range of products and services, including database management solutions, enterprise resource planning (ERP), customer resource management (CRM) and cloud infrastructure services. That diversification helps mitigate any risks tied to one sector while ensuring steady cash flow from operations. However, the company’s aggressive push into cloud infrastructure and data center expansions for AI services is what investors are excited about.
In Q3 FY24, Oracle’s revenue increased 7% YOY to $13.3 billion. Cloud infrastructure revenue increased by 49%, with Gen2 Cloud seeing rapid adoption. CTO Larry Ellison is bullish on the long-term growth prospects of AI, with Oracle’s cloud business at a $20 billion run rate. The company is working hard to meet the growing demands of AI workloads as it expands its cloud data center operations. That makes Oracle one of the best growth stocks to buy in March.
On the date of publication, Terel Miles did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
