Several S&P/ASX 200 Index (ASX: XJO) growth stocks have had a remarkable run over the past 12 months.
At least three have risen more than 100% over that timeframe.
That compares to the ASX 200 Index, which has increased 9%.
Which three ASX 200 stocks are they, and can they go higher?
Pro Medicus is up 133% over the past 12 months. The ASX 200 healthcare stock has continued its remarkable run on the back of being awarded several new contracts, while maintaining its 100% renewal rate. This has allowed it to expand its market share in the US diagnostic images services market to 9%.
The good news for investors is that the market is very large. Fortune Business Insights estimates the total addressable market to grow from US$130.38 billion in 2023 to US$206.84 billion by 2030. With 9% market share, there's plenty of room to run, meaning Pro Medicus could continue to see rapid earnings growth. Goldman has a buy rating and $309.00 price target on Pro Medicus shares, suggesting further upside from here.
Pro Medicus also has an outstanding 5-year track record, climbing 963% over the period.
TechnologyOne is up 132% over the past 12 months. The ASX 200 company is an enterprise software solutions provider. It services a range of industries, including all levels of government, financial services, education, utilities, and health. TechnologyOne has a very sticky customer base, allowing it to generate high recurring revenue. This also makes it a relatively defensive business.
In January, Pendal portfolio manager Lewis Edgley named TechnologyOne as a top stock pick for 2025. Edgley is one of Australia's leading fund managers. Between 2015 and 2024, Pendal's MicroCap Opportunities Fund delivered an annualised return of 15.82%.
While not quite as impressive as Pro Medicus, TechnologyOne's 5-year track record is still dream-worthy. The company is up 353% over 5 years.
Life360 is up 120% over the past year. The ASX 200 technology company has been a standout growth company for several years. Its family safety platform has taken off, now boasting over 83.7 million monthly active users. It is also the 13th highest-ranking app in the US, based on daily active users.
The company is constantly upgrading its features to broaden its appeal. It recently leveraged artificial intelligence to improve its functionality. This could expand its competitive advantage over other safety apps and support further growth. Notably, fund manager Blackwattle remains bullish on Life360 shares.
Its 5-year track record is mind-blowing, having increased 1,168%. This beats US technology powerhouse Nvidia Inc (NASDAQ: NVDA), which has risen 1,422% over 5 years.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.