Is there still time to buy these two super growth stocks?

Updated: 
Boohoo.Com

The award for the market's best-performing growth stocks over the past 12 months has to go to Boohoo.com(LSE: BOO) and Fevertree Drinks(LSE: FEVR). During 2016 these two stocks smashed the wider market. Boohoo gained 255% while Fevertree added 150%.

Still, after these impressive gains, it could be argued that the best is now behind these two growth champions, but I believe they still have plenty of room to run.

Just getting started

Boohoo has gained the support of investors over the past year thanks to the company's impressive revenue growth rate. For the year ending 28 February 2017, City analysts expect the company to report full-year revenue of £286m, up 160% in three years. Pre-tax profit for the period is expected to come in at £28.4m, up 170% in three years.

Boohoo's growth is only projected to accelerate over the next two years. For the year ending 28 February 2019. City analysts have pencilled in full-year revenue of £484m and pre-tax profits of £47m. 

It seems the majority of this growth will come from the firm's expansion into the US. The UK-based online fashion retailer grew its US revenue by 93 percent in the first six months of 2016. To help complement organic growth, Boohoo has acquired bankrupt US retailer Nasty Gal for £16m. Nasty Gal generated sales of $77.1m in the year to the end of February 2016 but made a $21m loss after tax. It seems Boohoo's management believes they have what it takes to turn this failed business around. Judging by their past performance, I wouldn't bet against them.

Overall, it looks to me as if Boohoo's growth is only just getting started and there's plenty of time for investors to buy into the retailer's growth story. The shares trade at a forward P/E of 71.9.

Slow and steady 

Compared to Boohoo, Fevertree looks like an ugly duckling. City analysts are forecasting revenue growth of 72% for the year ending 31 December 2016 but for 2017 sales growth is expected to slow to only 18% followed by 13% for 2018. Analysts have pencilled in earnings per share growth of 108% for 2016 but then growth of just 8% for 2017.

Considering these figures, shares in Fevertree look expensive. Based on 2017 earnings forecasts the shares trade at a forward P/E of 53.9 and a PEG ratio of 7.1, compared to Boohoo's forward PEG ratio of 0.9 for the year ending 28 February 2017. With this being the case, maybe the majority of Fevertree's gains are now behind the business. 

That being said, considering the company's past performance I wouldn't rule out any positive revenue surprises going forward. The business is definitely on a roll, and expansion into new markets could blow current City forecasts out of the water.

Indeed, at the beginning of this year the company issued a press release stating that for the second half of 2016 sales within Europe rose 395 year-on-year, US sales grew 55%, and rest of world sales nearly doubled. 

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