Investing in under-the-radar growth stocks can be a great way to gain exposure to companies that have the potential to outperform the market. By investing in these stocks, investors can capitalize on opportunities that may not be apparent to the wider public.

Most investors often overlook these stocks and offer a unique opportunity for those willing to take a chance on them. With careful research and analysis, investors can find undervalued stocks with strong growth potential. Investing in such stocks can reap greater returns than more established companies.

Accompanied by higher risk levels, growth stocks promise a greater potential for return in the future. This makes them stand out compared to other investments, such as value stocks.

With the recent market jitters, this is the moment to invest in growth stocks. Value stocks have been more successful than their growth counterparts in the past year, but now is an opportune time to look into buying growth stocks as recession fears and increasing interest rates loom.

Now is the right time to invest in growth stocks due to the temporary dip in the market.

The following stocks are available at a discounted rate and could be a highly rewarding investments in the long run.

InMode (INMD)

Investing in InMode (NASDAQ:INMD) is a great option for everyday investors. This emerging medical device manufacturer offers tremendous potential for growth and stability.

InMode, based in Israel, offers a broad range of devices for non-surgical cosmetic treatments. These gadgets can be used to achieve the desired results without invasive procedures.

InMode’s BodyTite is quickly becoming one of their most successful treatments. It is a minimally invasive alternative to liposuction that uses a narrow probe inserted beneath the skin to heat fat tissue, allowing providers to contour and shape the area above it.

On Feb. 14, the Israel-based MedTech company reported Q4 2022 results that exceeded Wall Street expectations. InMode’s cosmetics business has reported incredibly impressive figures this year, with revenue and non-GAAP net income skyrocketing by 21% and 20%, respectively, since last year – coming in at $133.6 million and $66.4 million.

In addition, the company had an impressive year, garnering a total revenue of $454.3 million, representing a 27% year-over-year growth. This was mainly due to the increasing demand for its minimally invasive platforms. Additionally, international revenue grew by 29% on a year-on-year basis.

Despite its excellent performance, InMode’s stock price has dropped 10% this year and has sunken over 65% from its 2021 highs. Consequently, it is one of the most under-the-radar growth stocks you should consider buying now.

SoFi Technologies (SOFI)

SoFi Technologies (NASDAQ:SOFI) is one of the most under-the-radar growth stocks on the market today. Despite its relatively small size, SoFi has managed to carve out a niche in the financial technology sector and is now poised for significant growth.

With its innovative products, such as student loan refinancing and wealth management services, SoFi has attracted a large customer base that continues to grow.

The rise of digital banking is evident, and SoFi Technologies is a prime example. With their online personal finance services, they are spearheading this change in the consumer lending marketplace. Additionally, the digital bank has experienced exponential growth in recent times.

SoFi’s high-interest checking and savings accounts have had an overwhelming response from customers, with nearly 480,000 joining during the fourth quarter of 2022.

This number brings the total membership to 5.2 million individuals at the end of the year, representing an impressive 51% growth versus last year.

In addition, SoFi saw a significant jump in net revenue, increasing it by 60% and reaching $1.6 billion.

The immense customer base drove SoFi’s deposit total to beyond $7.3 billion, reducing its cost of funding for its loans and increasing the net interest margin. Although the company isn’t quite profitable yet on a GAAP basis, its adjusted EBITDA skyrocketed with 374% growth to $143 million.

Even better, Anthony Noto- CEO of SoFi, has confirmed that the online bank will reach GAAP profitability by Q4 2023.

Despite shares dropping by 35% in the past 12 months, SoFi remains a strong contender to acquire a larger stake in the multi-trillion dollar financial services industry as one of the frontrunners in digital banking.

Snowflake (SNOW)

Snowflake (NYSE:SNOW) is one of the better under-the-radar growth stocks that has been gaining much attention lately.

The company offers an innovative cloud-based data warehouse solution that has helped it become one of the fastest-growing companies in the world.

It is among the few stocks that have seen significant gains during this pandemic-induced market downturn. With its unique product offering and strong financials, Snowflake has been poised to be a major player in the data warehousing space for years.

Snowflake allows customers to access valuable data they might not otherwise be able to get. This has resulted in a surge in demand for cloud technology services.

In its fiscal 2023 third quarter, which ended Oct. 31, Snowflake’s revenue grew by a staggering 67%, reaching $557 million.

Snowflake secured more business wins and better served its existing customers, ultimately driving its success. With an overall 34% growth in customer base, it reached 7,292 customers and achieved a net revenue retention rate of 165%.

Despite its impressive growth, Snowflake has lots of potential for further expansion. According to the company’s estimates, its total addressable market, which covers key domains like analytics, data storage, machine learning, and cybersecurity, will be around $248 billion in 2026.

Although Snowflake is not yet profitable according to the GAAP standards, it’s expected to generate an adjusted free cash flow margin of 21% in fiscal 2023.

While people have raised a few doubts about Snowflake’s cloud consumption models, its innovative and mission-critical technology has it well-prepared to tackle any hurdles.

On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.