See the 16 Fastest Growing Stocks Expected to Grow 50% to 439% This Year
After last year’s bear market, there is a fresh crop of growth stocks. Here’s a look at 16 companies, including Palo Alto Networks (PANV), sales department (CRM) and SDA (PDD) expecting earnings growth of 50% to 439% in 2023 or the current fiscal year.
X
PANW’s “IBD Stocks of the Day” tops the list, with analysts predicting earnings growth of 439% this year.
Allegro MicroSystems (ALGM), Dorian CIS (liquefied gas), DoubleVerify (DV) and longtime leader of the IBD Cadance Design Systems (CDNS) also make an assessment.
ELF Beauty (ELF), hubspot (HABS), super micro computer (SMKI), Lamb Weston (DV), Shift4 payments (FOUR) and Autodesk (ADSK) also rank among the top growth stocks.
In addition to evaluating earnings per share of at least 50% for the current year, companies must meet the following criteria to make this share screen.
Build your watchlist with this custom stock screener
Breakouts and Buy Zones in Top Growth Stocks
As the Nasdaq returns above its 50-day moving average, several stocks form or break out on this screen.
ELF Beauty, Shift4 and Allegro Microsystems also outperformed their recent buying points this year. Chinese retailer Miniso Group (MNSO) continues to soar from October lows. CDNS stock is currently up outside of a buying range after breaking out last month.
The sharp rise in the relative strength line of ALGM stocks and other growth stocks clearly shows their market leadership.
Meanwhile, growth stocks on this screen in or near buy zones include PANW, CRM, and SMCI. HUBS shares look set to return to the 399.65 buy point after falling below that entry point.
Builder Horizon Champion (SKY) is testing support on its 10-week moving average as it continues to consolidate.
Chinese mobile phone retailer PDD, which recently changed its name from Pinduoduo, has been one of the best Chinese stocks to buy and watch. But PDD stock fell below its 10-week milestone.
Top 16 companies expect big growth in 2023
Created by MarketSmith, this stock screen shows the highest growing companies expecting a 50-439% increase in earnings per share in 2023 or the current fiscal year.
But note that earnings growth is only one part of the equation for how to make money in stocks. To balance the risk/reward ratio, be sure to take into account other factors such as overall market direction and technical analysis.
Data as of March 20, 2023
Company | Symbol | Estimated earnings per share in the current year, % | Comp Rating | EPS rating | RS rating | SMR rating | |
---|---|---|---|---|---|---|---|
Palo Alto Networks | PANV | 439 | 99 | 97 | 90 | A | |
SDA | SDA | 376 | 99 | 81 | 97 | A | |
sales department | CRM | 223 | 98 | 95 | 93 | B | |
Dorian CIS | CIS | 174 | 96 | 95 | 97 | B | |
DoubleVerify | DV | 153 | 98 | 80 | 81 | B | |
Miniso Group | INSO | 125 | 95 | 98 | 99 | D | |
super micro computer | QMS | 107 | 99 | 99 | 98 | A | |
Lamb Weston Holdings | DV | 89 | 95 | 85 | 96 | A | |
ELF Beauty | ELF | 68 | 99 | 94 | 99 | A | |
Autodesk | ADSC | 64 | 97 | 96 | 80 | A | |
Allegro MicroSystems | ALGM | 63 | 99 | 99 | 98 | A | |
Ceridian HCM | DAY | 61 | 99 | 95 | 91 | WITH | |
Horizon Champion | SKY | 60 | 98 | 98 | 93 | A | |
hubspot | hubs | 52 | 99 | 99 | 93 | B | |
Shift4 payments | FOUR | 51 | 99 | 80 | 97 | A | |
Cadance Design Systems | CDNS | 50 | 98 | 97 | 95 | A |
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
YOU MAY ALSO LIKE:
How Palo Alto Became a Cybersecurity Hub
The best funds are investing billions in these five sectors
Create your own stock screens with IBD Stock Screener
Identify bases and buy points with this pattern recognition tool
News Press Ohio – Latest News:
Columbus Local News || Cleveland Local News || Ohio State News || National News || Money and Economy News || Entertainment News || Tech News || Environment News