3 Stocks Under $20 That Can Turn $100 Into $10,000 by 2030: June Edition

Stocks to buy

Stocks are inherently enticing.

First, they let you purchase the power to have a say in the operations of a company through voting. Then you can receive payouts through dividends. And finally, you profit off of your original investment by selling your stock. However, for everyday investors, putting a few hundred dollars into a company you don’t know inside-out is a hard bargain.

Most investors want a cheap company with high growth potential. Of course, this comes with risks, like volatility. However, multiple, well-known companies trade for less than $20, letting you stretch your money out. Oftentimes, these inexpensive stocks see growth in valuations that beat the whole market.

It’s time you get your foot in the door by investing in these three, sub-$20 stocks with great growth potential.

SentinelOne (S)

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SentinelOne, Inc. (NYSE:S) is a software-as-a-service (SaaS) company that specializes in cybersecurity.

S provides its services internationally. It has a “Singularity Platform” which delivers AI powered autonomous threat prevention, detection and response capabilities for its clients. It is currently trading at $18.15, having gone down 32.43% over the last year, indicating the perfect time to buy the dip.

Further, S has beaten earnings estimates by large margins for the past four quarters. Additionally, while it isn’t profitable yet, S has seen an insane quarterly revenue growth of 39.70%. This indicates that its products are gaining traction, bringing up the potential for profitability. An onslaught of new deals and positive news supports this. In just the past month alone, SentinelOne has partnered with Advantage, a New Zealand-based cybersecurity firm. Additionally, the company is providing new security services to AWS customers, indicating another product expansion.

These new developments highlight the competency of management and the company’s bright future. With the stock being cheap right now, investors may want to jump in.

Heritage Insurance Holdings (HRTG)

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Heritage Insurance Holdings (NYSE:HRTG) provides personal and commercial residential insurance, primarily within the U.S. In addition, it offers restoration, emergency and recovery services. HRTG stock is trading at $8.00. Fiscal year 2023 is the first time in two years that the company made a profit.

Currently, HRTG has an operating margin of 11.87% and a profit margin of 6.07%. Analysts have set an average price target of $10 for the stock, indicating a growth potential of 27.88%. The year-over-year (YOY) quarterly revenue growth rate is 8.10%, indicating increasing revenue. This is accompanied by an earnings growth of 1.50%. Also, an EBITDA of $75.38 million and positive cash flow are positive metrics.

Therefore, HRTG has great financials and has seen enormous growth in the past. Its consumer-centric model, as evident by recent rate reductions, is only helping its case. This is definitely one growth stock in which you should invest.

Carnival Co. (CCL)

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Carnival Co. (NYSE:CCL) operates within the leisure travel services sector internationally. But its most well-known services are offered in the North American market. The company sells its cruises through travel agents, tour operators, vacation planners, and both third and first party websites.

Currently, CCL trades at $16.74 with a market cap of $21.405 billion. The company has a thin profit and operating margin, at 1.80% and 5.10% respectively. The YOY quarterly revenue growth rate is 22%, which indicates increasing revenue. While it didn’t break even last year, it has consistently beaten EPS predictions in the past three quarters.

While the travel sector is definitely volatile, CCL is going to benefit from the ongoing post-Covid19 travel surge. Analysts have taken stock of this, offering an average price target that is 27.11% higher than the current price, indicating future growth plans. New expansions are extremely successful, which also indicates management’s competency. This all makes CCL stock a buy under $20.

On the date of publication, Achintya Pasricha 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.

Achintya Pasricha is a self-taught investor who has recently started to publish articles on a freelance basis.

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