5 outstanding growth stocks to buy and hold for the next decade

Given time these five growth stocks could send your portfolio to another level.

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If you're willing to take on extra risk in the pursuit of big capital gains, then read on as these five companies could be just what you're looking for…

  1. Cover-More Group Ltd (ASX: CVO) is a leading travel insurance provider. Although the $750 million company already commands a large share of the domestic market, analysts are tipping strong earnings growth in coming years. With shares trading on over 30 times earnings, it's not a bargain at today's prices. However, if it can match or surpass analysts' growth expectations its share price will follow.
  2. But if you thought Cover-More was expensive, $84 million machine-to-machine (M2M) communications company Netcomm Wireless Ltd (ASX: NTC) trades on an earnings multiple of nearly 80. Recently the company declared a profit of $1 million, up from a $500,000 loss a year earlier. It now has a number of key business partnerships in place and I expect Netcomm's growth is just getting started.
  3. G8 Education Ltd (ASX: GEM) has proven to be one of the best growth stocks on the ASX over the past five years, rising an incredible 6,000%. The childcare centre owner and operator has pursued an aggressive rollup strategy and continues to go from strength to strength.
  4. Yellow Brick Road Holdings Ltd (ASX: YBR) is a junior diversified wealth management company. The company is increasing its number of branches (as well as supporting existing branches to reach maturity) and is benefitting from its growing scale. Although not yet profitable, Yellow Brick Road is likely to be so within two years.
  5. Lastly, Nearmap Ltd (ASX: NEA) is a growth stock everyone should have on their watchlists. Nearmap is a provider of geospatial imagery for private and commercial use. As it increases its geographical presence and brings more applications on board, top and bottom line growth can be expected.

Buy, Hold or Sell?

Motley Fool Contributor Owen Raszkiewicz owns shares in Yellow Brick Road Holdings Ltd. 

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