See 16 Top Growth Stocks Expecting A 50% To 439% Rise This Year

After last year’s bear market, a new crop of growth stocks has emerged. Here’s a look at 16 companies, including Palo Alto Networks (PANW),  Salesforce (CRM) and PDD (PDD), expecting 50% to 439% earnings growth in 2023 or their current fiscal year.

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PANW stock — featured as the IBD Stock Of The Day — tops the list, with analysts forecasting 439% earnings growth this year.

Allegro MicroSystems (ALGM), Dorian LPG (LPG), DoubleVerify (DV) and IBD Long-Term Leader Cadence Design Systems (CDNS) also make the grade.

ELF Beauty (ELF), HubSpot (HUBS), Super Micro Computer (SMCI), Lamb Weston (LW),  Shift4 Payments (FOUR) and Autodesk (ADSK) also earn spots among the top growth stocks.

In addition to having EPS estimates of at least 50% for the current year, companies must meet the following criteria to make this stock screen.

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Breakouts And Buy Zones In Top-Rated Growth Stocks

As the Nasdaq gets back above its 50-day moving average,  several names on this stock screen set up or build on breakouts.

ELF Beauty, Shift4 and Allegro Microsystems have also cruised beyond their recent buy points this year. Chinese retailer Miniso Group (MNSO) continues to soar off its October lows. CDNS stock has now climbed just out of buy range from its breakout last month.

The sharp rise in the relative strength line for ALGM stock and other growth stocks clearly shows their market leadership.

Meanwhile, growth stocks from this screen in or near buy zones include PANW, CRM and SMCI. HUBS stock looks to reclaim a 399.65 buy point after slipping below that entry.

Homebuilder Skyline Champion (SKY) is testing support at its 10-week moving average as it continued to consolidate.

China-based mobile retailer PDD, which recently changed its name from Pinduoduo, has been one of the best Chinese stocks to buy and watch. But PDD stock has fallen below its 10-week line.

16 Top Stocks Expecting Big Gains In 2023

Created in MarketSmith, this stock screen highlights top growth stocks expecting a 50%-439% EPS increase in 2023 or…

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