Everyone longs to enjoy a comfortable and blissful retirement.
You can, too, if you diligently work to grow your money through investing.
Parking your money in solid growth stocks is one of the best methods to build your retirement nest egg.
Over time, this pot of money will steadily increase and help to achieve your retirement goals.
Here are four attractive US growth stocks that will help you to multiply your wealth.
Mercadolibre (NASDAQ: MELI)
Mercadolibre is the largest e-commerce player in South America and is also a financial technology (fintech) company.
The company runs an e-commerce platform and also a payment processing platform, Mercado Pago.
Mercadolibre reported an impressive set of financials for the first nine months of 2024 (9M 2024).
The e-commerce company’s revenue jumped 37.6% year on year to US$14.7 billion.
Operating profit, however, dipped slightly by 3.3% year on year to US$1.8 billion.
Net profit for 9M 2024 shot up 54.7% year on year to US$1.3 billion.
The e-commerce cum fintech business also saw its free cash flow climb 54% year on year to US$4.4 billion.
The number of unique active buyers on Mercadolibre’s platform continued to rise, going from 74 million to 84 million in a year.
The number of fintech monthly active users also jumped by a third year on year to 56 million for 9M 2024.
Other operating metrics also showed impressive improvements.
Gross merchandise value (GMV) rose 18% year on year to US$36.9 billion while total payment volume through the platform climbed nearly 35% year on year to US$137.7 billion.
PayPal (NASDAQ: PYPL)
PayPal is a payment processing company that allows users to securely and efficiently send and receive payment.
The business is present in around 200 markets and helps both individuals and businesses to move money, sell, and shop securely.
PayPal reported a strong set of financial numbers for 9M 2024 with net revenue rising 7.8% year on year to US$23.4 billion.
Operating profit climbed 17.7% year on year to US$3.9 billion while net profit improved by 6.4% year on year to US$3 billion.
The payments company saw its free cash flow generation for 9M 2024 soar 161% year on year from US$1.8 billion to US$4.6 billion.
Total payments volume through its platform rose 9% year on year to US$422.6 billion for the third quarter of 2024 (3Q 2024).
PayPal is driving higher conversion rates with its upgraded branded checkout service which enables personalised mobile checkout.
Just last month, the company introduced an innovative money pooling feature that allows customers to easily collect and manage funds with family and friends for group travel, gifts, and more.
Such transactions are protected by 24/7 fraud monitoring and advanced encryption, thereby giving customers peace of mind that their transactions can be conducted safely.
Zscaler (NASDAQ: ZS)
Zscaler is a cybersecurity company operating its Zero Trust Exchange platform that protects its customers from cyberattacks and data loss.
The platform is distributed across 160 data centres globally and is the world’s largest in-line cloud security platform.
Zscaler continued to grow its top line for the first quarter of fiscal 2025 (1Q FY2025) ending 31 October 2024.
Revenue jumped 26.4% year on year to US$628 million, continuing the trend of revenue increases logged by the cybersecurity firm.
For FY2024, revenue climbed 34% year on year to US$2.2 billion.
The business also generated a positive free cash flow of US$291.9 million for 1Q FY2025, up 30% year on year.
Zscaler also reported other encouraging metrics that demonstrate the steady growth momentum for its business.
Bookings grew 30% year on year for 1Q FY2025 while the dollar-based net retention rate came in at 114%.
Customers with more than US$100,000 of annual recurring revenue (ARR) grew 17% year on year to 3,165 while those with ARR of more than US$1 million saw a 25% year-on-year increase to 585.
Management believes it’s still early days for the business with a US$96 billion serviceable addressable market out there.
Its strategy for FY2025 includes improving sales productivity and increase channel sales with national and regional strategic partners.
Asana (NYSE: ASAN)
Asana provides a work management platform powered by artificial intelligence (AI).
The company has over 150,000 customers and helps them to manage and automate tasks such as goal-setting, capacity planning, and product launches.
Asana released an encouraging set of earnings for the first half of fiscal 2025 (1H FY2025) ending 31 July 2024.
Revenue continued to climb, growing by 11.7% year on year to US$351.7 million.
The business also saw its free cash flow turn positive at US$8.5 million, reversing the negative free cash flow of US$2.7 million for 1H FY2024.
The number of customers spending US$100,000 or more on an annualised basis also grew by 17% year on year to 649.
Asana launched its Asana AI Teammates which feature adaptable AI collaborators to help teams maximise their impact and achieve goals quicker.
Last month, the company announced a strategic partnership with Datacom, a trusted IT service provider in Australia and New Zealand.
This collaboration will enable Asana to support enterprise customers in New Zealand to help them achieve their business goals with greater efficiency.
Management has identified a US$10 billion opportunity within its core customer base and investors should be confident that the company has significant growth potential.
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Disclosure: Royston Yang does not own shares in any of the companies mentioned.
