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

Content Source

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

Related Articles

Back to top button