PDD stock among top 11 growth stocks
After last year’s bear market, a new generation of growth stocks has emerged. Here’s a look at 11 companies including Allegro MicroSystems (ALGM), PDD (PDD) And Palo Alto Networks (PANW), expects earnings growth of 50% to 166% in 2023 or the current fiscal year.
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Shippers of LPG Dorian LPG (LPG) tops the list, with analysts forecasting 166% year-over-year EPS growth for this year.
Delta Airlines (DAL), ELF beauty (ELEVEN), Shift4 payments (FOUR) And LPL Finance (LPLA) are also among the top growth stocks. super microcomputer (SMCI), ceridians (CTAG) And Skyline Champion (HEAVEN) complete the list.
In addition to year-to-date EPS estimates of at least 50%, companies must meet the following criteria to conduct this stock screen.
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Breakouts and buy zones in prime growth stocks
As the S&P 500 tests its 50-day moving average and the Nasdaq looks for support at its 21-day moving average, several names on this list have fueled breakouts this year.
Dorian, ELF Beauty, Shift4 and Allegro Microsystems have also far exceeded their recent buy points. The sharp rise in the relative line of strength for ALGM stock and these other growth stocks clearly demonstrates their market leadership.
Growth stocks from this screen testing the current buy zones include SMCI, CDAY, LPLA, and PANW stocks.
Delta Air Lines and homebuilder Skyline Champion are preparing potential new moves. DAL stock is likely to fly above a buy point of 40.34 as travel and airline stocks continue to show strength.
China-based wireless operator PDD, which recently changed its name from Pinduoduo, remains among the best Chinese stocks to buy and watch. After a large earnings gap in November, PDD stock rose through late January before declining. It has since fallen below its 10-week line.
11 Top Stocks Expecting Big Gains in 2023
This stock screen, created in MarketSmith, highlights top growth stocks that are forecasting an EPS increase of 50% to 166% in 2023 or their current fiscal year.
However, keep in mind that earnings growth is only part of the equation for making money in stocks. To balance your risk/reward trade-off, be sure to consider other factors such as overall market direction and technical analysis.
Data as of March 9, 2023
| Pursue | symbol | Estimated earnings per share (currency year) in % | Comp Rating | EPS rating | RS rating | SMR rating |
|---|---|---|---|---|---|---|
| Dorian LPG | LPG | 166 | 99 | 95 | 97 | B |
| PDD | PDD | 158 | 99 | 81 | 96 | A |
| super microcomputer | SMCI | 83 | 99 | 99 | 98 | A |
| ELF beauty | ELEVEN | 68 | 99 | 94 | 99 | A |
| LPL Finance | LPLA | 66 | 98 | 97 | 92 | B |
| Allegro MicroSystems | ALGM | 63 | 99 | 99 | 98 | A |
| ceridians | CTAG | 61 | 98 | 95 | 89 | C |
| Delta Airlines | DAL | 61 | 99 | 82 | 88 | A |
| Skyline Champion | HEAVEN | 60 | 98 | 98 | 92 | A |
| Palo Alto Networks | PANW | 59 | 97 | 97 | 83 | A |
| Shift4 payments | FOUR | 50 | 98 | 80 | 97 | A |
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
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https://www.investors.com/research/growth-stocks-to-buy-and-watch-2023/?src=A00220&yptr=yahoo PDD stock among top 11 growth stocks
