3 Growth Stocks That Could Skyrocket in 2025 and Beyond

After a choppy start to the year, the market appears to be finding its footing. With investor sentiment stabilizing, now looks like a good time to scoop up some high-quality growth names with strong upside potential in 2025 and beyond.

Here are three growth stocks that could gain some serious momentum in the months and years ahead.

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Amazon

Despite being a $2 trillion-plus market-cap stock, Amazon (NASDAQ: AMZN) is still a compelling growth stock. While best known for its e-commerce business, Amazon is also a leader in cloud computing, digital advertising, and, increasingly, artificial intelligence (AI). Despite a recent rally off its lows, the stock still trades at one of the most attractive valuations in its history.

Amazon's biggest growth driver today is AI, which it is using across its businesses to improve efficiency and help drive growth. In its e-commerce segment, it is using AI to help optimize delivery routes, automate warehouse operations, and even reduce returns by identifying damaged items before they ship. This is driving strong operating leverage, with North America operating income climbing 16% in Q1 on just 8% revenue growth. Meanwhile, it is also using AI to improve how third-party sellers create product listings. It is also helping these merchants to better target consumers through its fast-growing sponsored ads platform.

Meanwhile, its cloud computing business, Amazon Web Services (AWS), remains its most profitable and fastest-growing segment. Customers are building AI models using AWS tools like Bedrock and SageMaker, which are then run on its infrastructure. Amazon has also built its own custom AI chips to make its infrastructure more cost-efficient and give it a competitive edge.

Risks remain, including tariff headwinds and the chance that Amazon could overbuild its AI infrastructure. That said, the company has a long track record of investing aggressively in major growth trends and coming out the other side a stronger company. As such, Amazon still looks like a great growth stock to own.

Toast

If you've recently visited a local restaurant, there is a good chance you've come across Toast's (NYSE: TOST) point-of-sale systems. However, the company has expanded well beyond payment processing, and today, it offers an all-in-one platform that helps restaurants run their businesses more efficiently.

What sets Toast apart is its consistent product innovation. The company has rolled out features like delivery integration, mobile ordering, and digital invoicing. It's also started to integrate AI into its platform, piloting tools like "sous chef" and "ToastIQ" to help restaurants improve operations, gain business insights, and improve the customer experience. These innovations are all meant to help drive restaurant sales, which in turn benefits Toast since it gets a cut of customer sales through its payment processing offering.

Toast is seeing strong traction, adding new customers. In Q1 2025, the company added over 6,000 net new restaurant locations, bringing its total to 140,000, up 25% year over year. Importantly, the company is starting to make inroads both in the enterprise space and internationally. It also landed large enterprise deals with Applebee's and Topgolf, and it is showing solid progress in its early international expansion efforts. As a result, Toast raised its full-year guidance and now expects fintech and subscription gross profit to increase by about 26%.

While the economy and competition are risks, with a long growth runway ahead, Toast looks like a stock with strong upside still ahead.

E.l.f. Beauty

After hitting a rough patch earlier this year, e.l.f. Beauty's (NYSE: ELF) fortunes are looking up after it recently announced a $1 billion acquisition of Hailey Bieber's skincare and cosmetics brand Rhode. The deal should set the company up for its next stage of strong growth.

Under the leadership of Bieber, Rhode became a breakout beauty brand, generating over $200 million in sales in just two years. Impressively, this was done with little paid advertising and a small product lineup. The brand is particularly popular among Gen Z consumers. With Bieber staying on as chief creative officer and the likelihood of an expanded product lineup, Rhode should be a strong growth engine for e.l.f. Beauty in the coming years.

What makes this deal even more compelling, though, are the potential market synergies. While e.l.f. Beauty has been taking market share in the mass-market cosmetics space, Rhode is a more premium brand that is strong in both cosmetics and skincare. After primarily being an online-only brand, Rhode was already set to roll out to Sephora later this year. However, with a strong presence at major retailers like Target and Ulta Beauty, e.l.f. Beauty should be able to accelerate Rhode's retail expansion even more, given its strong distribution network.

Even before the deal, e.l.f. Beauty was expanding globally and gaining share in both skincare and cosmetics. While there are tariff and acquisition-integration risks, Rhode should be a strong growth driver that can help power e.l.f. Beauty's stock this year and beyond.

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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Geoffrey Seiler has positions in Toast and e.l.f. Beauty. The Motley Fool has positions in and recommends Amazon, Target, Toast, Ulta Beauty, and e.l.f. Beauty. The Motley Fool recommends Topgolf Callaway Brands. The Motley Fool has a disclosure policy.