A quick way to find growth stocks meeting your criteria is by using the IBD Stock Screener. Today, we look at the Rising Profit Estimates screen.
This stock screener finds growth stocks with increasing analyst earnings estimates. Here are four stocks with strong fundamentals and charts that are setting up, all with IBD Composite Ratings of 98 or 99.
Stock Screener: Array Technologies To Grow Over 100%
Array Technologies is forming a handle of a cup base with a 25.09 buy point. Shares of the solar tracking system maker popped 16% after the company beat first-quarter earnings and sales estimates and gave full-year guidance on May 9.
Array posted EPS of 25 cents per share, up 213% over the prior year's quarter, continuing its strong quarterly earnings growth trend. Sales grew 25%, but decelerated from gains of 83% and 173% in the prior two quarters.
Analysts project 121% profit growth over 2022, with another 46% increases in 2024.
Cloudflare jumped 4.5% in heavy volume and broke out of a double-bottom base on Wednesday, clearing a 66.30 buy point. Shares are in the 5% buy zone up to 69.62.
The network and internet security company slightly missed analysts' Q1 sales target and issued weak revenue guidance on April 27. Still, analysts estimates have climbed. They project 163% EPS growth this year and 20% next year.
Workday Posts 58% Earnings Growth
Workday gapped up 10% last Friday and broke out of a cup base with a 206.78 buy point. The stock remains in a buy zone to 217.12.
The move followed a beat on April-ended quarterly earnings and sales, and higher full-year 2024 subscription revenue guidance. Workday's quarterly EPS grew 58%, while sales grew 17%.
Analysts estimates 46% EPS growth this year and 20% more next year for the enterprise software provider.
Comfort Systems is in the buy zone of a 147.78 buy point. The mechanical, electrical and plumbing contractor soared 12.1% after reporting better-than-expected Q1 profit and revenue numbers on April 26.
Quarterly earnings grew 66% over prior year, while sales grew 33%. Profit is expected to grow 30% this year and 13% in 2024. MarketSmith shows analysts raised 2023 estimates but cut them for 2024.
Follow Kimberley Koenig for more stock news on Twitter @IBD_KKoenig.
