Stocks are soaring lately, and it's easy to wonder if the big gains have already been earned. There are more than 1,500 stocks that have at least doubled since bottoming out between mid-March and early April, but it wouldn't be a surprise to see many of them retreat.

A lot of these near-term winners will keep going, of course. Upwork (NASDAQ:UPWK)Peloton Interactive (NASDAQ:PTON), and Livongo Health (NASDAQ:LVGO) are three stocks that have more than doubled off of their coronavirus-related lows and have strong catalysts in play to keep the gains coming. Let's see why each stock still has room to grow. 

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Image source: Getty Images.

Upwork

The number of people working from home has skyrocketed since the COVID-19 pandemic began, and with the spike in unemployment rates, there are a lot of people looking for freelance and contractor gigs. Upwork operates a marketplace for white-collar remote jobs, and given the platform's appeal in this climate, it was surprising to see the stock hit a low of $5.14 on March 18. Shares have gone on to climb 133% through Thursday's close. 

Upwork's latest quarter was solid. Revenue rose 21% through the first three months of the year, exceeding its earlier guidance. The results were led higher by a 24% increase in marketplace revenue. Upwork's take rate -- what the marketplace operator receives for playing freelancing matchmaker -- is on the rise. The company sees growth slowing during the current quarter, but it's been conservative with its outlooks in the past. With more companies and individuals leaning on the internet to get stuff done, Upwork is a company that should emerge from the pandemic in a stronger position than it was at the start. 

Peloton Interactive

We need to work out, but your local gym or spin class instructor may not be ready to see you. Even when the climate opens up, you may not exactly be rushing to join a bunch of sweaty people pedaling away on stationary bikes. That's where Peloton comes in. There's no shortage of high-end stationary bikes and treadmills on the market, but what makes Peloton stand out is the connected fitness platform. 

The company's hardware comes with a mounted monitor and the ability to use your Wi-Fi to track real-time metrics and deliver live classes. The workout sessions track your leaderboard performance against hundreds, thousands, and sometimes even tens of thousands of fellow Peloton enthusiasts. It's as interactive as a real class, with instructor shout-outs and high-fives, but it all takes place in your home or office without ever having to check into a gym. 

You don't have to guess as to how Peloton's popularity is spiking in this pandemic. Revenue rose 66% to $524.6 million in its latest quarter, but the midpoint of its guidance calls for a 128% top-line surge for the current quarter. Churn is at a four-year low. The average Peloton home is clocking a record 17.7 workouts a month. Peloton shares have soared 141% since falling to the high teens in mid-March.

Livongo Health

There are 34.2 million people in the U.S. with diabetes, and Livongo Health is taking a high-tech approach to coaching its members into improving their lifestyles and their blood sugar levels. Livongo Health uses Wi-Fi-connected glucose meters -- think Peloton but with a pin prick -- to track a member's blood glucose level. The high-tech spin here is that data scientists and machine learning use that data to take a more proactive approach to steering you back into good habits when the numbers start to spike. 

The platform works, and the average Livongo Health diabetes member sees a dramatic reduction in blood sugar after just a few months. Livongo Health is available through a growing number of health plans and self-insured corporations, and membership has doubled over the past year to 328,000. Diabetes is a pretty big burden on the healthcare system, and the platform claims to save its clients -- health insurance and self-insured companies -- an average of more than $1,900 in annual costs per member. With Livongo Health now tackling other chronic conditions, currently serving less than 1% of the country's diabetes market, and another 88 million people in the U.S. with prediabetes, it's easy to see why the stock is soaring these days. The shares have more than tripled, up 208% since briefly trading in the high teens two months ago. 

There are a lot of stocks that have more than doubled in recent weeks. Make sure you buy the right growth stocks to keep those gains coming.