For those looking to begin investing in the stock market, it can seem a little overwhelming at the start – especially with the sheer volume of stocks available. There are so many possibilities that it may seem almost impossible to weigh up the pros and cons when it comes to making an educated investment decision and deciding the best stocks to buy.
If you are looking for help in finding the best stocks to invest in right now, then I hope this little guide will be of use to you. It includes my top tips for March 2023.
10 best stocks to buy in March 2023
Please note: these picks are not personal recommendations or financial advice. Do not buy these investments solely based on what you read in this article.
1. Amazon.com inc.
Amazon is a global powerhouse that needs no introduction. And it may seem a little strange to be tipping Amazon, but its recent performance has taken a downturn and the company has been in the midst of letting workers go and restructuring.
In spite of this most analysts have Amazon as a “buy”, and this even though many believe that there will be further short-term declines in the stock. That said I am not one of those as I think this slight downturn is just a blip before a busy December and January.
I think that Amazon will rebound strongly, what with Black Friday, the Holiday season, and New Year sales all nicely lining. This coupled to the fac that the company appears to have finished its restructuring place it in a strong position for the months ahead. As things currently stand the median estimate for Amazon stock forecasts a +45.91% increase, which would confirm “buy” recommendations as being well placed.
On the start of trading 18th November 2022 Amazon stock was listed at $ 95.96.
Source: Yahoo
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2. Chevron Corporation
Due to recent disruptions in the global oil market, America’s “emergency reserves” of oil have been decreasing. As a result, US oil, which has been underpriced for a while now, has enjoyed strong growth of late. This has helped oil giant Chevron rise in value as prices return to regular levels and the appeal of “cheap”, but morally and politically dubious oil, has come under increasing scrutiny.
The company’s quarterly earnings have increased by 81% from last year, and its earnings per share (EPS) have tripled. Chevron’s free cash flow has also nearly doubled in the same period. And with geo-politics highlighting the importance of domestic energy sources, Chevron has committed to growing the domestic supply of oil and gas production.
Furthermore, its price-to-earnings ratio is just above 10. For most of this year Chevron has been a strong performer. With energy demands set to spike as we enter the winter months, it’s likely that this strong growth will continue.
Chevron’s share price was 184.09 USD on 18 November 2022.
Source: Yahoo
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3. Allbirds Inc.
Allbirds is an eco-shoe company who had the misfortune of having a 2021 IPO. And so, like many companies who went public in 2021, they have had a tough time in 2022. With that being said, their stock is a buy recommendation by many analysts—and for good reason.
Whilst the company has yet to turn a profit, its strong eco-friendly credentials make it popular with many institutional investors and as such, it could be on the road to recovery. Other analysts believe that its excellent brand make it a prime takeover proposition, which would undoubtedly be a boon to both the company and its shareholders.
In any case the company has enjoyed a recent upturn in its fortunes and with the worst of the Covid blues long gone it appears to be setting itself up for the future. The average 12-month stock price forecast for Allbirds stock is currently at $6.89, which would denote a rise in value of 143.46% and as such is a strong “buy” rating across the board.
On 18 November 2022, Allbirds shares opened at 3.03 USD.
Source: Yahoo Finance
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4. Dutch Bros Inc.
In these uncertain times it may seem strange to recommend Dutch Bros, but this drive-through coffee shop operator and franchisor looks set to end the year on a high. Their Q3 results reported 53% revenue growth year-on-year and the final quarter figures are likely to be just as strong as the company continues its aggressive expansion.
Currently Bros has said that it is on track to open another 150 shops in 2023 and its rapid expansion and decent cup of joe has helped it become a staple of the West Coast. Under the management of private equity firm TSG Consumer Partners, who acquired the company in 2018, strong growth is expected nationwide.
As such, I believe that the current share price is undervalued and is likely to rise in the coming year. Whether this growth will continue is something I am less certain about, but as things currently stand, I think Bros is well worth a look.
As of 18 November 2022, shares were trading at 33.43 USD.
Source: Market Watch
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5. Nutrien
Canadian firm Nutrien is perhaps not the best-known name on this list, but they are among the world’s leading agri-sector companies.
Due to the current sanctions against Russia, Saskatoon-based Nutrien is planning to expand its production of potash and nitrogen—chemicals that are vital for farming worldwide. High fertilizer demand is likely to continue, especially as it seems that sanctions against Russia will not be lifted anytime soon.
Currently the share price is, according to most experts, grossly undervalued as they are priced at less than six times next year’s earnings. In the wake of the Covid lockdowns, with supermarkets running low on vital supplies, and further disruption to global food supplies caused by the war in Ukraine I believe that the agri-sector as a whole is set for strong growth in the months and years ahead. For these reasons many analysts have Nutrien pegged as a “buy”.
As of 18th November 2022, shares were trading at $78.94.
Source: Marketbeat
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6. Etsy Inc.
The e-commerce company Etsy saw strong growth during the Covid lockdowns. The company’s focus on handmade items and craft supplies proved to be a hit as many people took up new hobbies, or rediscovered old passions, during the pandemic.
That a craft/hobby company would prove popular during the lockdown is not surprising, what is surprising however is that since lockdown ended its performance continues to boom. Not many e-commerce companies can take on Amazon and survive. Etsy however has managed to pull this off and remains in a strong position, even in the post lockdown landscape.
With its robust and popular platform, coupled to its strong brand recognition, the sky could be the limit for this pick—especially as markets continue to jitter. And I believe that its combination of strong features, solid reputation, and strong online recognition make Etsy a great choice for savvy long-term investors.
When markets opened on 18 November 2022, Etsy was trading at $114.37.
Source: The Motley Fool
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7. Nvidia
The computer chip market has had a tough time of late, with shortages hitting the sector hard. However, times of crisis are also times of opportunity and leading chipmaker Nvidia I believe to be well placed for the future.
Nvidia has a track record of delivering exceptional returns-on-investment of 34% over the past year, coupled with incredible net margins of 26%. Recently, their share value has declined but I believe that this will be short-lived and that the company will enjoy a strong 2023.
Concerns over the scope and reach of China in this vital sector will lead the US and other leading economies to invest heavily in improving domestic capabilities. But also, platforms such as Meta and others have announced they will increase their investment on developing network infrastructure capabilities.
So, whilst the consensus on Nvidia is far from unanimous, and many believe the company is set for hard times, I think that the forecast for Nvidia is set to for “sunny days” ahead.
When markets opened on 18 November 2022, Nvidia’s share price was $159.66.
Source: Kiplinger
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8. Lockheed Martin Corporation
Lockheed Martin is the world’s largest defense contractor and one the most important cogs in the US economy. Recent developments in Ukraine have helped the company deliver a 15.36% return since the beginning of the year, while its 12-month returns are up by 14.82%.
Analysts across the board are unanimous in rating LMT as a “buy”, as current valuation metrics indicate that the company stock is undervalued. The future forecast is also particularly strong as the company is reported to have several strong growth prospects on the horizon. And with military purchasing set to rise in NATO member countries it may well be that Lockheed is one of the best placed companies to benefit from this.
With the global environment as uncertain as it is, it seems Lockheed Martin may well be a sure shot for investors in the year ahead.
On 18th of November Lockheed shares opened at $473.63.
Source: Zacks
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9. Lowe’s Companies Inc.
Lowe’s is a staple of the US retail landscape and the go-to-choice for DIY and home-improvement needs.
With the property market in such a difficult position, huge numbers of homeowners are looking to improve their current properties. This trend coupled with an influx of new homeowners who have bought older, more affordable properties in need of a little TLC, means that Lowe’s is in a strong position for future.
Currently, Lowe’s is down about 26% from its recent highs, and at current prices, shares trade hands for 15 times earnings and yield 2.2%.
However, with that being said, Lowe’s is known for its dividends and recently the company raised them by 31% earlier this year—a strong sign that management are confident that the future will see strong growth. A prognosis I happen to share as I believe that the property market is set for further contraction in the year ahead.
Lowe’s share price was $208.40 on 19 November 2022.
Source: Kiplinger
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
10. Shopify Inc.
Shopify is one of the most popular e-commerce platforms for businesses and is one of the leading providers of such solutions in the US.
2022 was a disappointing year for many large tech-companies but the one exception to this trend was Shopify with their better-than-expected results. The value of tech stocks, even more so than with other stocks, is strongly built on future projections, and for this reason Shopify stock is well worth considering.
Shopify has huge opportunities within its international, payments, and shipping businesses. As strong customer relations with the company deepen, it’s likely that the value of the brand in turn will only increase. Especially when one considers the holistic nature of the Shopify platform. This coupled with management’s excellent track record make Shopify number 10 in my top 10 list.
As of the 18th of November, the shares for Shopify opened trading at $38.29.
Source: The Motley Fool
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
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