The Best Stocks to Buy With $1,000 Right Now

Got some idle cash you're looking to invest but aren't interested in the market's usual favorites? If so, you're not crazy -- most of the stock market's top tickers are still uncomfortably expensive right now.

You'd be better served with something a bit off the beaten path that's been recently discounted. Here are three of the best choices to consider right now.

Image source: Getty Images.

1. Shopify

Simply put, Shopify (NASDAQ: SHOP) helps brands, sellers, and merchants of all sizes build their own online stores. Launched in 2006 to be a diametrical-opposite alternative to Amazon, last year the e-commerce company's platform facilitated the sale of $378.4 billion goods and services, turning that into more than $11.5 billion worth of revenue and $1.5 billion in net income for itself. That was up 29%, 30%, and nearly 37% year over year, respectively, extending trends that have been in place for a while, and will likely remain in place for an equally long time.

Granted, despite the stock's 20%(+) dip since late last year it's still expensive at more than 70 times this year's projected per-share profits of $1.82. Even so, given the growing importance of brands maintaining complete control of their customers' online buying experience, this may be all the discount you're going to see from SHOP stock.

2. Remitly Global

If you've ever tried to send money to a friend or family member living overseas, then you know it's surprisingly complex just because international money transfers are so heavily regulated. It's surprising that an enterprising company hasn't made an easier-to-use option that handles most of the complicated logistical issues of the process.

Well, that's exactly what Remitly Global (NASDAQ: RELY) has done. And it's crushing it. This service handled $74.9 billion worth of transfers last year, up 37% from 2024's figure, pumping up its revenue by 29% to $1.6 billion.

This is still just the beginning, though. Market research outfit Straits Research says the worldwide digital remittance market is poised to grow at an average annualized pace of 15.6% through 2033, led by the United States' market that Remitly serves (although not exclusively) so well.

3. Chewy

Finally, online pet supply store Chewy (NYSE: CHWY) has never been a particularly high-growth company since launching in 2011. It's simply made slow and steady progress, capitalizing on consumers' love for their pets and growing demand for the convenience of online shopping. The company's fiscal third-quarter sales of $9.3 billion were up 8% year over year, more or less in line with its growth rate for the better part of the past several years, and a likely representation of the top-line growth that awaits in the near and distant future.

Nevertheless, the stock's near-halving since the peak made around the middle of last year is more of a buying opportunity than an omen for one chief reason: Chewy's business has finally achieved enough scale that the company's consistently out of the red and into the black. Profits and profit margin rates are likely to grow measurably faster than revenue will from here, in fact, with fiscal 2025's expected net income of $225 million projected to nearly triple by 2028 despite single-digit sales growth during this stretch.

Data source: Morningstar. Chart by author.

Analysts are still on board, by the way, even if the majority of investors aren't right now. The majority of the stock's analysts currently consider Chewy stock a strong buy, with a consensus price target of $44.82 that's more than 70% above this ticker's present price.

James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Chewy, and Shopify. The Motley Fool has a disclosure policy.