The stock market started 2023 on an upbeat note, with the Nasdaq Composite notching 14.3% gains so far this year. And the good part is that the rally could be here to stay.

History suggests that the stock market could have a much better 2023 and even go on a bull run this year. That won't be surprising given the cooling inflation, strong employment numbers, and a potential end to the interest rate hikes by the Federal Reserve. As a result, now is likely a good time for investors to add some solid Nasdaq stocks to their portfolios that have been on fire in 2023 and could end the year with more gains.

Fortinet (FTNT -2.59%) and Matterport (MTTR -4.14%) are two such Nasdaq stocks that investors may want to buy right now before they head higher. Let's look at the reasons why.

1. Fortinet

Fortinet's stock price jumped nearly 11% following its fourth-quarter 2022 results released on Feb. 7. The buying enthusiasm was driven by the company's impressive growth and solid guidance.

Fortinet's 2022 revenue shot up 32% over the prior year to $4.42 billion, while non-GAAP (adjusted) net income jumped 49% to $1.19 per share for the year. The cybersecurity specialist expects solid growth in 2023 as well, which is evident from its revenue guidance of $1.2 billion. That would translate into a 26% jump over the year-ago quarter. Fortinet also guided for $0.28 per share in adjusted earnings for the current quarter, an estimated jump of 47% over the same period last year.

What's more, the company expects to sustain its healthy growth momentum for the entire year. It guided for $5.4 billion in revenue for 2023 at the midpoint of its guidance range, which would be a 22% increase over last year. The earnings guidance of $1.40 per share points toward an increase of 17% over 2022.

However, don't be surprised to see Fortinet clock faster growth in 2023 thanks to its market share gains. Market research firm Canalys estimates that Fortinet was the third-largest player in the cybersecurity market with a 6.7% market share at the end of 2022. It is also worth noting that the company's market share grew at a faster pace of 30% last year than the two companies ahead of it. While Palo Alto Networks' market share jumped 25% in 2022 to 8.4%, Cisco Systems recorded a 16.7% increase in market share to 6.9%.

Fortinet's market share gains are a sign of the increasing amount of money customers are spending on its platform. The company signed 4,904 deals greater than $50,000 last quarter, a 29% increase over the prior year. What's more, the number of deals worth $1 million or more in value increased to 181 in the fourth quarter of 2022 from 122 in the year-ago period.

The strong deal momentum led to a 34% year-over-year increase in Fortinet's deferred revenue to $4.64 billion. The deferred revenue increased at a slightly faster pace than Fortinet's actual quarterly revenue growth of 33% over the fourth quarter of 2021. As this metric refers to the money collected in advance for services that will be rendered later, its faster growth than actual revenue points toward a robust future pipeline.

So, Fortinet is capable of surprising analysts and growing at a faster pace than what's expected from it. The company handily beat Wall Street's expectations over the past four quarters and that trend could continue. Moreover, the company expects to clock a 21% annual earnings growth rate over the next five years.

All this indicates that this cybersecurity stock is built for more upside. Fortinet's rally sent the stock's price-to-earnings ratio to 56, but it is still cheaper than the five-year average earnings multiple of 88. Of course, Fortinet stock is still trading at a rich valuation, but it is growing at a healthy pace to justify that and is also gaining market share, which is why investors should consider buying it before it is too late.

2. Matterport

Share prices of spatial data company Matterport shot up 22% so far in 2023, bringing massive relief to investors who saw the stock price collapse big time in the past year.

The good part is that Matterport stock's rise seems sustainable considering the humongous opportunity the company is sitting on and the pace at which it is expected to grow in the short and long run. The company will release its full-year 2022 results on Feb. 22, and analysts expect Fortinet to finish the year with 21% revenue growth to $135 million. More importantly, Matterport's growth is expected to accelerate in 2023 with an estimated top-line jump of 25% to $169 million.

Given that Matterport is targeting a massive addressable market in the form of digital twins, it is not surprising to see why its growth is expected to accelerate this year. The global digital twin market is expected to clock a whopping annual growth rate of 60% through 2027, and Matterport has started capitalizing on this opportunity already.

The company recently struck a deal with Deere, which has decided to use Matterport's digital twin platform to build a virtual operations center that will remotely manage more than 60 facilities across Asia, Europe, and the Americas. John Deere will be deploying Matterport's 3D cameras to create digital twins of its facilities, which can then be accessed by the former's employees remotely to optimize operations.

This is another fast-growing niche that Matterport can tap into as the demand for 3D cameras is expected to grow at an annual rate of 30% through the end of the decade, generating $148 billion in annual revenue in 2030 as compared to just $18 billion last year. It is also worth noting that Matterport has built a solid subscriber base that should allow it to tap the massive opportunities in the digital twin and the 3D camera markets.

The company's subscriber base increased an impressive 50% year over year in the third quarter of 2022 to 657 million. Nearly 10% of Matterport's subscribers pay for its offerings, but that proportion should head higher as the markets in which it operates gain more traction. As such, shares of Matterport could deliver more upside this year and in the long run, making them an enticing bet for investors looking to buy a tech stock right now.