The 5 Best Growth Stocks to Buy Right Now for 2026

As we approach a new year, it is the perfect time to add some new money to some of the most promising growth stocks on the market. While the broader S&P 500 index remains within a couple of percentage points of its all-time high, the stocks in this article are down between 22% and 55% from their 52-week highs.

Despite their recent declines, these businesses have exhibited strong past price appreciation (over the longer term) and delivered revenue growth between 16% and 48% in the last quarter. Furthermore, each stock is powered by what could be decades-long megatrends, making them five of the best growth stocks to double down on in 2026.

Image source: Getty Images.

1. Rocket Lab USA

Since its initial public offering (IPO) in 2021, end-to-end space company Rocket Lab USA (NASDAQ: RKLB) has quickly become a five-bagger for investors. Over the same time, though, its sales have risen nearly tenfold, so I don't believe investors have "missed their chance."

Powered by this growth, the founder-led company has become the No. 3 player in the launch services and space systems industry, trailing only SpaceX and Blue Origin. However, with its first medium-launcher Neutron rocket set for blastoff in Q1 next year, Rocket Lab could become a bigger competitor to its larger peers.

Vertically integrated, Rocket Lab is positioned for decades of growth across its business segments: launch, spacecraft, and payloads. Furthermore, the company's operations continue to scale beautifully.

Data by YCharts.

With McKinsey and Company projecting the space industry to grow from $630 billion in 2023 to $1.8 trillion by 2035, Rocket Lab could outgrow its relatively minuscule market cap of $28 billion. Ultimately, the company's growth optionality is unfathomably considerable as mega-cap tech companies and governments experiment with new space concepts.

As long as Rocket Lab's sales growth and scaling margins persist, I'm happy to continue adding to the company over time -- especially with shares 20% below their high.

2. Kinsale Capital

If space companies don't interest you, let's try the opposite side of the excitement spectrum and look at Kinsale Capital Group (NYSE: KNSL) and its best-in-class excess and surplus insurance operations. Compounding total returns for investors by 39% since its 2016 IPO, Kinsale may be the most efficient insurer on the market.

With a combined ratio of 77%, the company's profitability is superior to its peers, who maintain an average combined ratio of 92%. What makes this industry-leading profitability even more incredible is that Kinsale produced it while delivering revenue growth of 39% annually over the last decade.

Focusing on small, hard-to-assess risks that its mega-peers typically try to avoid, Kinsale has carved out a lucrative niche for itself. That said, Kinsale's revenue growth slowed to 19% in the latest quarter, as pricing competition intensified and management opted to prioritize profitability over sales growth.

With its stock down 24% on this growth slowdown, it looks like the perfect time to buy this growth stock.

3. MercadoLibre

Since its IPO in 2007, Latin American e-commerce and fintech juggernaut MercadoLibre (NASDAQ: MELI) has become a 70-bagger. Over the same time, the company's sales grew from $85 million to $26 billion today. Despite this market-trouncing run, MercadoLibre's brightest days may still lie ahead, even though it is already Latin America's largest business.

While the company has become synonymous with e-commerce in the countries it serves, the online buying penetration rate in Latin America is still only half that of the U.S.Furthermore, Brazil, Mexico, and Argentina account for 96% of MercadoLibre's sales, showing that there are many more chapters left in the company's growth story as it experiments in new countries.

Home to a massive flywheel that supports its logistics network, which in turn facilitates e-commerce transactions, generating payments for its fintech unit, which helps feed its credit business, and so on, MercadoLibre remains my favorite growth stock to buy after its 23% dip from July 2025 highs.

4. SPS Commerce

SPS Commerce (NASDAQ: SPSC) is a leading supply chain cloud services provider that has delivered 18% annualized returns for investors since 2010. Growing its sales by 26 times in value over that time, the company's solutions have become mandatory for many retailers, third-party logistics providers, and suppliers as the world continues to shift toward omnichannel sales.

SPS's offerings have become so popular that the company has gone 99 consecutive quarters with positive sales growth. However, after seeing its sales growth rate decelerate slightly and guiding for "only" 8% sales growth in 2026, the company's shares have plummeted over 55% over the last year.

Ultimately, I think this drop is a byproduct of the company being previously priced for perfection at over 70 times free cash flow (FCF).

Data by YCharts.

Now available at just 23 times FCF, and planning to buy back shares with at least half of the FCF it generates, this niche-leading market outperformer looks like a steal.

Image source: Dutch Bros.

5. Dutch Bros

Burgeoning handcrafted beverages chain Dutch Bros (NYSE: BROS) has seen its stock price rise by 14% annually since 2021. Home to 1,089 locations across 17 states, Dutch Bros commands a cult-like following and is rapidly expanding throughout the rest of the U.S. Management's stretch goal for the company is to reach 2,029 locations by 2029 -- and they are well on their way after growing store count by 14% in 2025.

However, Dutch Bros isn't just an expansion story. Its same-store sales have grown for 10 straight quarters, and the company now funds expansion plans almost entirely in-house from the cash generated by its operations. This marks a significant turning point for the company, as it previously relied on issuing new shares to grow, thereby diluting shareholder value.

Trading at 40 times cash from operations, Dutch Bros stock isn't cheap. Yet, if it lands anywhere close to its 2,029 stores by 2029 goal, it could be on its way to becoming a multibagger of its own.

Josh Kohn-Lindquist has positions in Dutch Bros, Kinsale Capital Group, MercadoLibre, Rocket Lab, and SPS Commerce. The Motley Fool has positions in and recommends Kinsale Capital Group, MercadoLibre, and Rocket Lab. The Motley Fool recommends Dutch Bros. The Motley Fool has a disclosure policy.