A quick way to find the best growth stocks is to look for 99 MarketSmith ratings. These five growth stocks come from varying industries and have scored perfect 99 Composite and Relative Strength Ratings.
IBD's proprietary Composite Rating measures five categories, weighting the Earnings Per Share Rating and RS Ratings more heavily, while incorporating the retracement off the stock's 52-week high. A 99 RS Rating means the stock has outperformed 99% of the stocks in the IBD database in the last 12 months.
Growth Stocks To Watch: ELF Takes A Breather
ELF Beauty shares are testing support at the 10-week moving average.
ELF reports fiscal Q4 earnings on Wednesday after the market close. Analysts project 70% annual earnings growth for the cosmetics and skin care company. The company holds the top spot in the Cosmetics/Personal Care group, which ranks 44th out of the 197 IBD industry groups.
IBD 50 stock Green Brick Partners is extended from the 5% buy zone of a flat base with a 34.32 buy point. Shares of the growth stock exploded after the homebuilder beat on Q1 earnings and sales on May 3. Quarterly earnings grew 14%, nearly identical to the 15% sales growth. Green Brick builds homes in Texas, Georgia and Florida, and has a noncontrolling interest in Colorado.
Web Browser And AI Stock Hits All-Time High
One of the top growth stocks, InTest is extended after rallying at the start of 2023, with no base pattern forming. InTest makes testing and technology products for the auto and EV, aerospace, industrial and semiconductor industries.
INTT took off following better-than-expected Q4 EPS and sales on March 3. It posted another strong quarter on May 5, beating Q1 top and bottom lines.
Opera has also been on a steep uptrend, with no new base, in recent months. The growth stock gained over 7% in heavy volume, and hit an all-time high Monday.
Analysts expect 96% 2023 EPS growth and 16% next year. The Norway tech company develops web browsers for PCs, mobile devices and artificial intelligence-driven content. It serves over 380 million monthly active users.
Powell Industries hit the 20% profit zone of a flat base with a 47.47 buy point after a blowout Q2 report on May 2.
Analysts project over 500% earnings growth this year. The company designs and manufactures electrical power systems used in oil and gas refining, offshore oil and gas production, mining and rail power.
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