In this market slowdown there appear to be fewer growth stocks to buy, but patience will be rewarded.

It’s been a forgettable year, to say the least, for equity investors. The Fed continues to raise interest rates, spooking investors in the process. However, as our very own maverick stock analyst Luke Lango puts it, there’s always a bull market somewhere.

Moreover, November, December, and January are typically strong months for the stock market that should encourage you to look for growth stocks to buy.

Growth stocks have been far from being the best wagers over the past several months. Energy stocks on the S&P 500 have been an anomaly, though, rising over 45% in the first eight months of the year. Moreover, given the market headwinds, it’s unlikely for the market to reverse course anytime soon.

Nevertheless, the bear market has created multiple opportunities to load up on growth stocks to buy for the long haul. Though they may seem unattractive at this time, the bear market isn’t going to last forever, and missing out on growth stocks trading at multi-year lows would be unwise. Here are seven growth stocks to buy now.

DraftKings (DKNG)

DraftKings (NASDAQ:DKNG) has established itself as the leader in the online sports betting market. It’s had an incredible year so far, achieving legalization across new territories across the U.S.

User engagement remains high while the company diversifies its portfolio to explore new opportunities in its niche. On top of that, its top-line growth continues to improve by double-digit margins each quarter, generating roughly 56.6% revenue growth from the prior-year period in the second quarter.

Despite consistently growing numbers, DKNG stock is down more than 40% for the year and trades at just three times forward sales.

As we advance, the legalization of sports betting in New York and California in the back half of the year could be a significant catalyst for the stock, which is why it’s an ideal time to bet on it while share prices are diminished.

Tenable (TENB)

Tenable (NASDAQ:TENB) is a cybersecurity firm that helps various enterprises assess their cyber exposure and protect their data.

The sector is forecast to grow at an incredible 8.9% from 2022 to 2027 to reach a value of $266.2 billion. Considering its trailing twelve-month sales figure of roughly $611 million, its growth runway ahead is massive.

Tenable has generated strong financial results over the past several quarters. Its average revenue growth over a five-year period stands at an amazing 33.7%. Top-line growth is roughly in line with its historical averages, as it continues to attract new customers each quarter.

It’s done well to create a one-stop-shop cyber exposure platform that effectively brings all its productions into a single solution. Consequently, its margin profile is spectacular, with nearly 80% gross margin. Moreover, it boasts a colossal customer base, most of which belong to the Fortune 500 and the Global 2000.

Perficient (PRFT)

Perficient (NASDAQ:PRFT) is an IT consulting firm that helps its clients effectively use digital technologies to drive engagement.

It provides services to various industries, including automotive, financial, manufacturing, and other related sectors.

The demand for its services has been robust of late, with the pandemic boosting trends in technology and pushing them to invest in their digital infrastructure. Consequently, its business has grown rapidly in recent quarters, as it benefits from its growing scale.

In catering to the rising demand for its products, it had to employ more professionals, which weighed down its bottom line. However, its revenue per employee is still the highest among its peer group.

Despite the belt-tightening measures implemented by various companies, digital transformation expenses cannot be considered frivolous anymore, which bodes well for the likes of Perficient.

Moderna (MRNA)

Pharma giant Moderna (NASDAQ:MRNA) had another blow-out year in 2021, generating $18.5 billion from its much-talked about coronavirus vaccine.

It appears it could generate another $21 billion in sales based on advance purchase agreements.

The concerns surrounding MRNA stock relate to its post-pandemic future when Covid 19 vaccine sales settle at a lower level. However, the consensus is that the market is still expected to be worth over $10 billion once the pandemic shifts to endemic. Vaccine revenues are likely to be recurring, showing investors that it could drive sales over time.

Furthermore, Moderna has also been looking to expand its vaccine pipeline, having three non-coronavirus candidates in phase 3 trials. These vaccines cover the cytomegalovirus, respiratory syncytial virus (RSV), and influenza. If it can commercialize these vaccines, it will be looking at billions in new revenue down the road.

Apple (AAPL)

Apple (NASDAQ:AAPL) is the most valuable public-traded entity, and for a good reason. It operates one of the most robust businesses in the world with a track record that’s second to none.

The iPhone maker offers its users an expanding list of products and services backed by incredible results. Moreover, it has a fortresslike balance sheet with friendly shareholder policies, which make it a no-brainer investment at current prices.

Apple is the most successful smartphone maker and has effectively augmented that success by adding new services. Hence, the iPhone and other products are incredibly sticky once we factor in Apple’s Services division.

The services division is arguably the fast-growing segment for the company, constituting 31% of total gross margins last year, an 11% improvement from 2017.

Furthermore, we recently saw the launch of the latest iPhone, which is expected to be another home run for the company. Wedbush analyst Daniel Ives estimates that nearly 240 million iPhone users haven’t upgraded their phones in more than 3.5 years, leading to strong pent-up demand.

Nio (NIO)

Chinese EV juggernaut Nio (NYSE:NIO) has been one of the top wealth compounders over the past few years.

It’s been delivering record-breaking deliveries and growing sales at a rapid clip every quarter up until the second quarter this year. In all likelihood, though, the second quarter represents a nadir in its journey.

On the upside, Nio is expected to push through aggressively in the third quarter and beyond. At the same time, it continues to expand into Europe, pairing its ET5 with its ET7 flagship sedans.

Nio’s third-quarter guidance shows a massive 30.9% uptick in year-over-year and a 27.5% sequential increase in deliveries. It’s poised for a record-breaking fourth quarter if there aren’t any major lockdowns in the coming months.

Nio could potentially achieve break-even profitability exiting the fourth quarter next year. Despite the positives, it is trading at one-third of its all-time high price at this time, making it a screaming buy at current levels.

Coupang (CPNG)

Coupang (NASDAQ:CPNG) is a leading South Korean eCommerce player that has witnessed remarkable stock price erosion despite rock-solid fundamentals.

It continues to grow significantly faster than the broader market, a trend that will likely continue for the foreseeable future. It operates in the South Korean eCommerce sector, which is projected to be arguably the fastest-growing market over the next several years.

Coupang is over 10 times larger in terms of its market share than the next competitor bidding for the top spot in the market.

Furthermore, the company has been prodding along nicely in expanding EBITDA margins. Its second-quarter eCommerce EBITDA margins came in at an amazing 2%, compared to a negative 2.7% last year.

Over the long run, the adjusted EBITDA margin is expected to fall in the 7% to 10% range. Additionally, Coupang is expanding into several new profitable verticals, including fintech, video, fast-food delivery, and others which will substantially increase its addressable market.