3 Stocks to Buy Right Now That Could Triple Your Investment Within the Next 10 Years  <font color="#6f6f6f">The Motley Fool</font>

Can you triple your money in one decade or less? Absolutely. Plenty of stocks have delivered those kinds of gains in the past. And there are stocks that can do so in the future.

There are two key ingredients needed, though. First, there must be a huge addressable market that’s largely untapped. Second, the companies must have competitive advantages that enable them to capture enough of that market to generate sizzling growth. 

Here are three stocks that definitely check off both of these boxes. I think that you can buy these stocks right now and potentially triple your investment over the next 10 years — and possibly even sooner. 

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1. Guardant Health

Guardant Health (NASDAQ:GH) held its initial public offering (IPO) in October 2018. If you had invested in the stock at its IPO, your initial investment would have nearly quadrupled in 20 months. That’s a whole lot better than tripling in a decade.

I’m convinced that Guardant Health can deliver mind-blowing returns over the next 10 years as well. The company is a pioneer in the liquid biopsy market. If you’re not familiar with liquid biopsies, they’re blood tests that can detect fragments of DNA that have broken off of cancer cells. Guardant Health already has two liquid biopsy products on the market that are growing sales like crazy.

Guardant360 helps match patients who have been diagnosed with advanced-stage cancer with the most appropriate therapy. Drugmakers use GuardantOMNI to screen cancer patients for clinical studies of experimental drugs. The estimated market for Guardant360 is around $6 billion in the U.S. alone. To put that number in perspective, Guardant Health’s market cap right now is around $7 billion.

If that sounds appealing, make sure you’re sitting down before you read what’s next. Guardant Health has also developed two other liquid biopsy products that aren’t commercially available yet. LUNAR-1 holds the potential to detect cancer recurrence, while LUNAR-2 could allow cancer to be detected at very early stages.

The addressable market for these two products tops $45 billion annually. If Guardant Health can capture just a fraction of this market (and I think it will), this healthcare stock will skyrocket even more in the next few years.

2. MongoDB

MongoDB (NASDAQ:MDB) went public around a year before Guardant Health did. If you had invested in the database company’s IPO, you’d now be sitting on a return of more than 550% in less than three years. 

You might be thinking, “Yeah, but it’s easier for stocks to soar like that at first and a lot harder to keep the momentum going.” And you’d be right. However, I think that MongoDB has what it takes to keep its sizzle from fizzling.

For one thing, the database market continues to grow briskly. Market researcher IDC estimates that the global database market will jump from $71 billion in 2020 to $97 billion by 2023. If we assume that this growth rate will continue throughout the decade and that MongoDB’s share price simply grows at the rate of the overall database market, the stock will nearly quintuple over the next 10 years.

Here’s the kicker: MongoDB is growing much faster than the overall database market is. That’s primarily because of the company’s Atlas cloud-based database-as-a-service platform. There’s a massive shift with customers migrating their data to the cloud. Atlas provides a way for them to achieve this while minimizing the hassle.

3. The Trade Desk

I’m not going to discuss how much money you would have made if you had invested in The Trade Desk‘s (NASDAQ:TTD) IPO in 2016. You could have waited until the beginning of 2018 to buy the stock and still quadrupled your initial investment. Keep in mind, this return reflects the fact that The Trade Desk’s shares remain nearly 20% below their highs from earlier this year. 

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Image source: Getty Images.

My view is that the coronavirus-driven market sell-off presents a fantastic opportunity to buy The Trade Desk stock. The company is the leader in buy-side programmatic advertising. For a long time, advertising agencies had to negotiate back and forth with media outlets to place ads. The Trade Desk’s software platform allows them to do it instantly and a lot more cost-effectively.

The Trade Desk’s opportunity is so great that it’s likely to perform well in 2020 despite the likelihood that the COVID-19 pandemic will dampen advertising spending. And the long-term prospects for the company really look attractive.

By 2025, the total global advertising market should reach $1 trillion. The programmatic advertising market currently stands at only $34 billion but is growing five times faster than the overall market. With TV streaming services fueling increased demand for The Trade Desk’s programmatic advertising platform, I think there’s a very good chance the tech stock could triple in value by the end of this decade if not sooner.