5 Most Promising Growth Stocks According to Analysts

3. Clearfield, Inc. (NASDAQ:CLFD)

Number of Hedge Fund Holders: 20

Average Price Target by Analysts: $109.80

Fiber optic manufacturing and distribution company Clearfield, Inc. (NASDAQ:CLFD) ranks 3rd in our list of the 12 most promising growth stocks according to analysts. Earlier this month Clearfield, Inc. (NASDAQ:CLFD) posted its fiscal first quarter results, which show that Clearfield’s revenue in the period increased by a whopping 68% on a YoY basis to reach $86 million. This figure also beat analyst estimates by $2.44 million. GAAP EPS in the period came in at $1, beating estimates by $0.04. Clearfield, Inc. (NASDAQ:CLFD) reiterated its 2023 fiscal net sales guidance, according to which the metric is expected to come in between $380 million to $393 million, versus the consensus estimate of $385.35 million. This would show a 40% to 45% growth from fiscal 2022.

As of the end of the third quarter of 2022, 20 hedge funds tracked by Insider Monkey had reported owning shares in Clearfield, Inc. (NASDAQ:CLFD). The total value of these stakes was about $170 million.