Should you buy or sell these mighty growth stocks before March results?

You may think that luxury shoe retailer, Jimmy Choo(LSE: CHOO) and technology solutions provider Accesso Technology(LSE: ACSO) have nothing in common but you'd be wrong. Both are high growth businesses, both enjoyed a superb 2016 and both are due to report full-year results to the market next month (on the 2nd and 21st respectively).

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Since it's arguably best to leave a party when you're having the most fun, should investors quit while they're ahead? Or should they buy more in expectation that shares in both businesses will continue their ascent?

High riser

Thanks to a series of positive updates, shares in Jimmy Choo now change hands for 63% more than last June's pre-referendum low of 96p.

Last month, the company reported strong growth in Asia, with solid performance in Europe and Japan also helping to mitigate a reduction in wholesale revenue from the US.

Unsurprisingly, the main driver of sales at Jimmy Choo remains its shoes. What's more surprising is that its men's range (which also includes accessories) is now the £602m cap's fastest growing category -- accounting for roughly 9% of revenue.

With a new sunglasses and eyewear range due for launch next year, this figure looks set to rise further. Assuming the company can also continue to push its online offering -- now accounting for only 6% of revenue -- management's belief that it can deliver on "strong current growth expectations" doesn't appear misplaced.

On the downside, Choo's recent performance has left it trading on a rather expensive valuation. A price-to-earnings (P/E) ratio of 19 may be too dear for some, particularly as it's not hard to imagine a situation in which demand for luxury items falls following a macroeconomic event beyond the company's control. A lack of dividends coupled with a not-insignificant amount of debt on its balance sheet may also be black marks for some investors.

It's a buy from me, albeit a cautious one.

Get in the queue

While high heels and queueing may not go together, shares in Accesso Technology -- like those of Jimmy Choo -- have also performed strongly over the last year, rising 72% since last February.

Earlier this month, the ticketing solutions business announced that profits would likely be ahead of expectations for the full year. That's despite the recent decision to increase investment in its products and infrastructure to exploit opportunities outside its traditional core markets.

The company's new wearable device -- introduced back in November -- also received further investment. Designed specifically for the attractions environment, Prism offers functions like virtual queuing, cashless payments, ride photography tagging and proximity-based marketing. Innovations like this should allow Accesso to stay one step ahead of the competition for some time to come.

With all business lines "reporting good momentum" and any impact from Brexit expected to be "minimal", it looks like 2017 should be another good year for the Reading-based firm. Indeed, should the aforementioned investment deliver, the 15% rise in earnings per share pencilled-in for this year could quickly become the norm.

A P/E of 36 for 2017 may appear eye-wateringly high but a price-to-earnings growth (PEG) ratio of just 1.5 suggests that investors may still be getting a fair deal given management's plans for the future.

With its market leading status, I remain attracted to the growth story at Accesso. I suspect the shares will climb higher both before and after results arrive.

Gunning for growth?

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Paul Summers has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.