3 of the Best Growth Stocks to Buy for Less Than $100 Today

Buying good growth stocks at reasonable prices can help set you up for some tremendous gains later on. It can be a great idea to invest in many of them, since it's not always obvious which stock may surge in value. Nvidia, for example, was a top tech company a decade ago, but its recent surge, driven by growth opportunities in artificial intelligence, came virtually out of nowhere.

Investing in many types of stocks gives you more shots on target and more opportunities to generate strong returns. Three growth stocks that I think may be among the best ones that you can buy for less than $100 right now are Netflix (NASDAQ: NFLX), Robinhood Markets (NASDAQ: HOOD), and Uber Technologies (NYSE: UBER). Here's why these can be solid buys for the long haul.

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Netflix

Shares of streaming giant Netflix are currently trading at around $80. They're down 16% this year, and for investors, this could be one of the best growth stocks to buy on the dip.

There's a lot to like about Netflix's business as the company has raised prices while also offering a lower-priced ad plan to appeal to more price-conscious consumers. While there may be concerns about its growth rate slowing down, the business is still doing well. In its most recent quarter, which ended on March 31, revenue rose by more than 16% to roughly $12.3 billion. The company expects that growth rate to slip to around 13% for the current quarter, but it's still a solid rate nonetheless.

Netflix has established itself as a top media company, and its recent attempt to buy Warner Bros. was a clear sign that it isn't content to just sit idle. This is a growth-oriented business that looks focused on getting bigger and better, which is why, with it trading at a fairly reasonable 25 times its trailing earnings, it can be a great stock to add to your portfolio today.

Robinhood Markets

Another stock that's been struggling this year but could be a good buy is Robinhood Markets, known for its popular trading platform. It's down 15% and trading just below $100.

The company's focus on young retail investors is what makes it an intriguing growth stock to buy. They can potentially remain customers for decades. Not only can traders buy and sell stocks, but through Robinhood, people can also trade crypto, and the company has been expanding into prediction markets. It has the potential to be the ultimate trading app for retail investors, if it's not already.

This year, it's faced challenges due to a softening crypto market, but its future remains promising. From $1.4 billion in sales back in 2022 to now generating $4.6 billion over the past four quarters, its growth has been incredibly impressive. The company is also profitable, and although it may be a bit pricey, trading at 46 times its trailing profits, the growth potential it possesses can still make it a great option if you're looking for a top stock to buy and hold for the long haul.

Uber Technologies

Rounding out this list of solid growth stocks is Uber Technologies. Although it's down 10% this year, it has risen by around 50% over the past five years. Currently, it's trading at around $74, not far from its 52-week low of just over $67.

Uber's business looks stellar; its revenue last year totaled $52 billion, with more than $10 billion of that flowing to the bottom line. What's promising about the business is just how much more growth is ahead for the company. Known for its ride-hailing services, the company's app could be vital in the growth and rising adoption of robotaxis in the future. Plus, there are still many opportunities for the business to expand internationally.

At a price-to-earnings multiple of just 18, this is the cheapest stock on this list, and it may offer the most value and upside for investors in the long run.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Netflix, Nvidia, and Uber Technologies. The Motley Fool has a disclosure policy.