At this point, it’s not easy to pinpoint which FTSE 100 growth stocks will emerge from the coronavirus crisis in one piece.
However, two companies stand out as being better positioned than many of their peers to weather the storm.
Top FTSE 100 growth stocks
Ocado (LSE: OCDO) stands out to me as one of the best FTSE 100 growth stocks.
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The company has never reported a profit, but during the past five years, it has become a world leader in online shopping. Ocado has signed contracts with retailers all over the world to provide its online retailing technology.
Its technology has helped it manage the surge in demand for its services over the past few weeks. As robots predominantly operate the group’s warehouses, there’s a low risk that the virus outbreak will force the business to shut up shop.
That being said, Ocado did have to close its website at the end of last month. The firm was struggling to deal with a surge in new customers. Management will be hoping these customers will stick with the business for life.
As such, now could be an excellent time to snap up a share in this leading FTSE 100 growth stock.
As mentioned, the company isn’t profitable just yet, but analysts were expecting the group to produce sales of £2bn in 2020. It looks as if there’s a good chance Ocado could now go past this projection.
Delivered to your door
As well as Ocado, another business that’s likely seen a spike in demand for its services over the past few weeks is Just Eat Takeaway.com (LSE: JET).
With many customers stuck in their homes, and restaurants unable to open, consumers have turned to online delivery platforms to bring the restaurants to their door.
As FTSE 100 growth stocks go, this business stands out. Indeed, Just Eat was already a market leader before the virus outbreak. The disruption might allow it to consolidate its position in the market.
After Just Eat merged with Takeaway.com earlier this year, the group is now a European tech champion. Analysts are expecting profits to grow by more than 160% over the next two years.
With demand for delivery services spiking, there’s a good chance Just Eat could now beat this target.
There’s also been some speculation that when the lockdown is over, consumers won’t go back to their old habits. This suggests working from home might become more mainstream. Ordering food to your door, rather than going out, might also grow in popularity.
Only time will tell if this will take place, but it is another reason why Just Eat could be a good investment at current levels.
As such, if you are looking for FTSE 100 growth stocks to add to your portfolio today, these tech champions might be worth a closer look. As they continue to dominate their respective markets and build on the successes of the past few years, investors could see big returns.
