4 compelling growth stocks to buy this month

High-growth stocks like Domino's Pizza Enterprises Ltd (ASX:DMP) and TPG Telecom Ltd (ASX:TPG) could be the powerhouse of your returns.

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Are you hitting your investing targets? Everyone wants to not only beat the market but shoot right past it. Over the past 12 months, the S&P/ASX 200 Index (ASX: XJO) (Index: ^AXJO) is up about 11.5%. Combining your portfolio share price gains and your dividend income, were you above or below that?

Not every year is going to be perfect, but having a plan or simple strategy to improve is a good idea.

First, don't get involved with too many stocks. Your top 10 picks will probably perform better than numbers 11 – 20. Next, holding several high-growth stocks in your portfolio can do wonders for your returns.

4 high-growth stocks to buy

ResMed Inc (CHESS) (ASX: RMD) has a great opportunity to grow its mainstream market revenue in the US by making e-health products that use mobile apps to monitor and analyse breathing, sleeping and heart rate patterns of health-conscious people. Its new S+ device now integrates with Apple's new Apple Healthkit and is sold at Apple retail shops.

Domino's Pizza Enterprises Ltd (ASX: DMP) is forecast to grow earnings an average 28% annually over the next two years as it expands its store numbers in Australia, Japan and Europe. The company is already the US-based Domino's Pizza company's largest franchisee operator in the world. They are not close to saturating any of their markets, so growth prospects look good. They have a high PE right now, so try to add to your position when the stock pulls back.

TPG Telecom Ltd (ASX: TPG) made a takeover offer for iiNet Limited (ASX: IIN) in its bid to become the second biggest telecom business in Australia. It has its own extensive internet infrastructure network and even owns underwater telecom cables linking Australia directly to Asia and the US. They are getting all the pieces together to be a competing force for NBN broadband service. Analysts expect high double-digit earnings growth from TPG in the short term.

REA Group Limited (ASX: REA), the operator of the highly successful realestate.com.au property website, has quite a strong track record for high earnings growth. It still generates site visitor numbers way above its nearest competitor domain.com.au and offers premium-listing services for a premium price. Now, as the joint owner of the third-largest property listing site in the US with media giant News Corp, it is ready for its next stage of growth.

Motley Fool contributor Darryl Daté-Shappard does not own shares in any company mentioned.  The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead.  This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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