Top Growth Stocks to Watch in April 2019
Though there are signs that U.S. equity markets may be stumbling, the overall market bias remains substantially bullish. And the stocks that are most likely to benefit from such a bullish environment are growth stocks. Here, we bring you our picks for the top growth stocks to watch in April 2019.
What is a Growth Stock?
Generally, a growth stock is one that tends to grow, or rise in price, substantially more quickly than average. This may be due to a leading technology, unique products/services, a fast-expanding customer base, and/or some other differentiating factor that strongly attracts investors to the company’s stock.
We assess growth stocks based on the strength of both their technicals and fundamentals. These are stocks that show:
- Strong bullish trends on multiple time frames.
- Significant growth in earnings per share (EPS) over time.
- Exceptional relative strength within their industries, sectors, and the market as a whole.
How Do Growth Stock Traders Trade?
Growth stock traders generally seek to identify stocks with top technical/fundamental traits and strong, positive trends as early as possible. They then attempt to ride those trends, and then get out if and when the technicals and/or fundamentals change for the worse. Typically, traders of growth stocks seek to take advantage of pullbacks or consolidations, and then upside breakouts.
The Growth Stocks to Watch
- CDNS – Cadence Design Systems | Price (as of the market close on 4/3/2019): $65.17 | Year-to-Date Performance (as of the market close on 4/3/2019): +49.89% | Market Capitalization: $18 B| Cadence Design Systems is a large-cap that provides electronic design automation (EDA) software and engineering services. Cadence produces software and hardware for designing integrated circuits, systems on chips, and printed circuit boards.
- ETSY– Etsy | Price (as of the market close on 4/3/2019): $69.46 | Year-to-Date Performance (as of the market close on 4/3/2019): +46.02% | Market Capitalization: $8 B| Etsy is a mid-cap company that features an online e-commerce market of handmade crafts and unique factory-manufactured items sold by member sellers through virtual storefronts.
- SSNC – SS&C Technologies | Price (as of the market close on 4/3/2019): $64.40 | Year-to-Date Performance (as of the market close on 4/3/2019): +42.76% | Market Capitalization: $16 B | SS&C Technologies is a large-cap multinational financial technology company that sells software and software as a service to the financial services industry. Clients include fund administration, wealth management accounting, and insurance and pension funds.
- TEAM – Atlassian | Price (as of the market close on 4/3/2019): $115.36 | Year-to-Date Performance (as of the market close on 4/3/2019): +29.65% | Market Capitalization: $26 B | Atlassian is a large-cap Australian enterprise software company that develops and markets products for software developers, project managers, and content managers. Well-known company products include Jira and Confluence.
- FTNT – Fortinet | Price (as of the market close on 4/3/2019): $87.49 | Year-to-Date Performance (as of the market close on 4/3/2019): +24.22% | Market Capitalization: $14 B | Fortinet is a large-cap company that develops and markets cybersecurity software, appliances, and services. Products include firewalls, anti-virus, intrusion prevention, and endpoint security.
IMPORTANT: The information above should not be construed as investment advice and should not be considered as a solicitation to buy or sell securities. Past performance is not indicative of future results. Trading and investing in the financial markets involves substantial risk of loss, and may not be suitable for all investors.
Disclosure: At the time of this article’s publication, we have no position in any security or trade/investment mentioned, nor do we have any business relationship with any company whose stock may be mentioned.
Senior Technical Analyst at The Technicals
As a momentum stock trader, Luke focuses mostly on strong market moves. Luke has been trading the markets since the early 2000s, but still gets excited by big movers. Whether a surging large-cap tech company or meteoric penny stock, Luke tracks and trades winners. A technical analysis purist, Luke authors many of our Top Stocks & ETFs reports. Contact Luke