In a market flirting with all-time highs across several indexes, bargains have become harder to find. Consequently, finding stocks that could double one's money within a few years also appears more difficult as the likelihood of a market downturn rises.

Nonetheless, even in a market crash, some growth stocks can prosper, and investors wanting to double their money regardless of market conditions should consider Etsy (ETSY -2.62%) and Redfin (RDFN -1.48%).

Let's find out a bit more about these two hot stocks.

Two children looking excited as they hold large amounts of cash in their hands.

Image source: Getty Images.

1. Etsy

Capitalizing on the growing e-commerce trend has boosted many stocks. However, following on its mission to "keep commerce human," Etsy offers a unique twist. More than acting merely as a sales platform like Shopify, Etsy serves as a community for sellers of craft supplies, handcrafted goods, and vintage items.

For one, it only allows retailers on the site who sell artisan goods, vintage items, and related items. Moreover, it has built a specialized search tool designed to link buyers to the vendors who sell what they want. Combined with its low start-up costs, it has fostered a meaningful competitive advantage in its artisan niche.

Additionally, its land grab strategy continues as it just bought what many have called the "Etsy of Brazil," Elo7. Since Elo7 also specializes in vintage and artisan goods, it should integrate nicely into Etsy, giving it a segue into Latin America's largest market.

This has translated into fast growth among its buyer and seller communities and in its finances. In the first quarter of 2021, it had attracted 4.7 million sellers, up 67% from the year-ago quarter. Also, Etsy reported 90.7 million buyers, an increase of 90% over the same period.

This brought quarterly revenue of $551 million, a 142% increase from 12 months ago. Also, net income of $144 million spiked by almost 1,049% during that period. Slowing the rise of operating expenses to 113% and the $7 million in other income stemming primarily from foreign exchange gains also boosted net income. For 2020, revenue surged 111% over 2019 levels while net income rose 264% over the same period. Etsy achieved this by keeping operating expense growth at 83%.

ETSY Chart

ETSY data by YCharts

As a result, Etsy's stock price rose by almost 80% in the last 12 months alone. Moreover, its P/E ratio of 56 comes in below Shopify and Amazon. Etsy's massive growth and comparatively lower valuation give the company tremendous potential to climb much higher.

1. Redfin

Redfin can surge in value as it leads the charge to redefine how Americans buy and sell real estate. It combines technology and a base of realtors that it employs to offer a customer-focused service.

Moreover, instead of the standard 3% commission charged for each side of the transaction, Redfin performs its part for between 1% and 2%, depending on the level of service. This saves thousands in commission. The lower cost also helps it stand out from the most popular real estate website, Zillow, which did not hire its own agents until last year.

Redfin's approach has also boosted market share, which now stands at 1.14%, up from just over 0.90% in the first quarter of 2020. Likewise, it bolstered its financials as revenue rose 40% from year-ago levels to $268 million. It also cut its losses over the same period from $60 million to less than $36 million as the increases in the cost of revenue and operating costs lagged revenue growth.

In 2020, revenue climbed by only 14% from 2019 levels as the company contended with the effects of the pandemic. During 2020, it lost $19 million, down from $81 million in 2019 as it kept expense growth below the increase in revenue. Also, rising traffic of 44% in the fourth quarter compared with fourth-quarter 2020 temporarily boosted revenue, allowing for a profit during that quarter.

Moreover, these successes helped the stock to rise by more than 50% over the last year. Additionally, at a price-to-sales (P/S) ratio of just under seven, that multiple is down from February when it surged above 10.

RDFN Chart

RDFN data by YCharts

Finally, in the second quarter, the company expects revenue to more than double compared with the second quarter of 2020. Given the current growth trend along with its relatively low valuation, the stock price could easily rise along with the revenue increases.