e.l.f. Beauty, Inc. (ELF) Analysis
First is cosmetics firm e.l.f. Beauty (ELF). The stock has rocketed 104% in 2023.
This company is on the smaller side with a $6.1B market cap.
The stock has been a Big Money favorite all year which you can see in the MAPsignals chart below. YTD there’ve been consistent large volume inflows (green bars). More importantly, this bull move has been in place the last 12-months:
Heavy demand for a stock can be bullish over the longer term. With a 12-month forward P/E of 62, shares could be attractive after a pullback. According to FactSet, the company is estimated to earn $2.07 per share in fiscal year 2025, up from $1.77 estimates in 2024.
High-quality growth stocks are attracting big capital in 2023.
Tesla, Inc. (TSLA) Analysis
Next up is Tesla, Inc. (TSLA) which is an EV darling, jumping a dizzying 127% in 2023.
Look at this, since June there’ve been 11 days where the stock lifted in price alongside chunky volumes. That’s a tailwind powering the stock higher:
The company has a solid growth profile as earnings are set to explode to $4.88 per share in fiscal 2024. That’s up from $3.40 estimates in 2023.
With a forward P/E pegged at 57.4X, this name could be worth a spot in a growth-oriented portfolio.
Solid fundamentals and healthy institutional support make this name a potential opportunity.
Applied Materials, Inc. (AMAT) Analysis
The number 3 high-growth firm is semiconductor manufacturer Applied Materials, Inc. (AMAT). This company has been trending higher in 2023, soaring 50%. Semiconductors have been the leading group YTD.
The chart speaks for itself as the stock has attracted 10 unusual inflow buy signals, as shown in the MAPsignals chart below:
When we’re in a bull market, don’t fight the Big Money.
When sizing up stocks, it’s important to check the fundamental picture too. The company has a forward P/E of 20X, which can be expensive.
Keep in mind, high-growth names can grow into these lofty projections.
Using Big Money software helps spot many of the strongest stocks in the market.
Bottom Line
ELF, TSLA, & AMAT represent 3 of the best high growth stocks surging in 2023 in my opinion. Unusual buying pressure plus a favorable fundamental picture, make these stocks worthy of extra attention.
Each of these names have been top-rated multiple times at my research firm, MAPsignals. We have a ranking process that showcases stocks like these on a weekly basis.
If you want to take your investing to the next level, learn more about the MAPsignals process here.
Follow our free insights here.
Disclosure: As of the time of this writing, the author holds a long position in TSLA in personal accounts but no positions in ELF and AMAT at the time of publication.
This article was originally posted on FX Empire
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Source: https://finance.yahoo.com/news/3-high-growth-stocks-surging-110202485.html