The third quarter earnings season is nearing its end with the majority of the S&P 500 companies having already reported their results. The performance led to an uptrend in the U.S. stock market with The Dow Jones industrial average rising 6.4%, the S&P 500 index recovering another 6.1%, and the Nasdaq Composite gaining 8.0% in the past month.

Such a great rebound took us by surprise, particularly after the August bloodbath, which made investors apprehensive about the market’s near-term future.

But solid earnings reports from a large number of companies lead us to believe that August was more of a mishap than a trend and the multi-year bull story remains intact. In fact, there are many stocks that are showing strong, stable growth metrics in the face of an arguably challenging macro environment.

Take for instance, FitBit Inc. (FIT - Analyst Report).

FitBit

Founded in 2007 and headquartered in San Francisco, Fitbit specializes in wearable activity tracking devices that record personal data, including the number of steps taken, distance traveled, calories burned, and other wellness related metrics.

On Nov 2, Fitbit reported third-quarter 2015 earnings per share (EPS) of 19 cents, which trounced the Zacks Consensus Estimate of 5 cents by a whopping 280%. Also, revenues of $409.3 million were up a massive 167.7% year over year. This exceeded management’s guidance of $335–$365 million and surpassed the Zacks Consensus Estimate of $347.0 million by 18%.

Also, during the quarter, FitBit added innovative features to its existing products, increased brand awareness, and expanded global distribution, which will significantly enhance user experience across the Fitbit platform and thus drive growth.

For the performance outlined above, investors shouldn’t be surprised to note that FitBit has earned itself a growth score of ‘A’ as well as a Zacks Rank #2 (Buy). This means that we believe that the stock is a potential outperformer and an impressive choice for growth investors.

But that is not all. Besides FitBit, there are some other gems that share similar growth characteristics.

4 Impressive Growth Stocks to Bet On

Picking the correct growth stocks from so many options could be a daunting task. However, with the assistance of our new style score system, one can locate stocks that have a solid growth potential.

Our Growth Style Score condenses all the essential metrics from the company’s financial statements for a true sense of the quality and sustainability of its growth. Our research shows that stocks with Growth Style Scores of ‘A’ when combined with a Zacks Rank #1 (Strong Buy) offer the best investment opportunities for growth investing.

Further, narrowing down the list with stocks that have an average EPS surprise (last four quarters) of 5% or higher and last EPS surprise of 10% or higher has helped us to find four stocks that could be interesting buys.

Here are the four picks:  

Primo Water Corporation (PRMW - Snapshot Report)

Primo Water, headquartered in Winston-Salem, NC, operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The company's water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers.

The company has consistently beaten estimates in three of the four trailing quarters, registering an astounding average beat of 122.92%. This Zacks Rank #1 company has a growth score of ‘A.’

With its impressive combination of a favorable Zacks Rank and growth score, analysts clearly expect it to outperform going ahead. Moreover, the Zacks Consensus Estimate for the current year has risen significantly over the past month.

INC Research Holdings, Inc. (INCR - Snapshot Report)

INC Research Holdings, Inc., headquartered in Raleigh, NC, is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries.

INC Research has delivered huge earnings surprises in each of the four trailing quarters, posting an impressive average surprise of 35.91%. This Zacks Rank #1 company has a growth score of ‘A.’

Moreover, analysts have become increasingly bullish on the company over the past month, with five upward estimate revisions that led to a sharp increase in the Zacks Consensus Estimate for 2015, which now stands at $1.80, up from $1.71 a month ago.

With a top Zacks Rank, impressive growth score and positive analyst sentiment, the company looks well poised for growth.

LendingTree, Inc. (TREE - Snapshot Report)

LendingTree, based in Charlotte, NC, is a leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan.

The company has consistently beaten estimates in each of the four trailing quarters, registering an astounding average beat of 54.30%. This Zacks Rank #1 company has a growth score of ‘A.’

With its impressive combination of a great Zacks Rank and impressive growth score, this company looks set for growth. Also, the Zacks Consensus Estimate for 2015 earnings has risen 7.6% over the past month.

Extreme Networks Inc. (EXTR - Snapshot Report)

Extreme Networks, headquartered in San Jose, CA, is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks, Internet service providers and content providers.

Extreme Networks has delivered huge earnings surprises in three of the four trailing quarters, leading to an average surprise of 139.59%. This Zacks Rank #1 company has growth score of ‘A.’

Moreover, the Zacks Consensus Estimate for 2015 has gone up to 6 cents from a loss of a penny a month ago.

With a top Zacks Rank, impressive growth score and positive analyst sentiment, the company is likely to exceed expectations going ahead.

The Road Ahead

The above-mentioned stocks have grabbed the spotlight with striking performances on the back of solid earnings performance and strong future growth projections. These trend-beating stocks that are scaling newer heights appear to have considerable room for more gains.

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