Stock Market

11 Top Growth Stocks Expecting Up To 166% Rise This Year


After last year’s bear market, a new crop of growth stocks has emerged. Here’s a look at 11 companies, including Allegro MicroSystems (ALGM), PDD (PDD) and Palo Alto Networks (PANW), expecting 50% to 166% earnings growth in 2023 or their current fiscal year.


Liquefied petroleum gas shipper Dorian LPG (LPG) tops the list, with analysts forecasting 166% EPS growth this year, on a year-over-year basis.

Delta Air Lines (DAL), ELF Beauty (ELF), Shift4 Payments (FOUR) and LPL Financial (LPLA) also earn spots among the top growth stocks. Super Micro Computer (SMCI), Ceridian (CDAY) and Skyline Champion (SKY) round out the list.

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 S&P 500 tests its 50-day moving average and the Nasdaq looks for support at its 21-day line, several names on this list have powered breakouts this year.

Dorian, ELF Beauty, Shift4 and Allegro Microsystems have also cruised well beyond their recent buy points. The sharp rise in the relative strength line for ALGM stock and these other growth stocks clearly shows their market leadership.

Meanwhile, growth stocks from this screen testing current buy zones include SMCI, CDAY, LPLA and PANW stock.

Delta Air Lines and homebuilder Skyline Champion are setting up potential new moves. DAL stock looks to fly past a 40.34 buy point as travel and airline stocks continue to show strength.

China-based mobile retailer PDD, which recently changed its name from Pinduoduo, remains among the best Chinese stocks to buy and watch. After a big gap-up on earnings in November, PDD stock rose until late January before pulling back. It has now retreated below its 10-week line.

11 Top Stocks Expecting Big Gains In 2023

Created in MarketSmith, this stock screen highlights top growth stocks expecting a 50%-166% EPS increase in 2023 or their current fiscal year.

But note that earnings growth is just one part of the equation for how to make money in stocks. To balance your risk/reward ratio, be sure to take into account other factors such as overall market direction and technical analysis.

Data as of March 9, 2023
Company Symbol EPS Est Cur Yr % Comp Rating EPS Rating RS Rating SMR Rating
Dorian LPG LPG 166 99 95 97 B
PDD PDD 158 99 81 96 A
Super Micro Computer SMCI 83 99 99 98 A
ELF Beauty ELF 68 99 94 99 A
LPL Financial LPLA 66 98 97 92 B
Allegro MicroSystems ALGM 63 99 99 98 A
Ceridian CDAY 61 98 95 89 C
Delta Air Lines DAL 61 99 82 88 A
Skyline Champion SKY 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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