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Investors look for growth stocks to provide return over a long-term period. These investors are looking to buy a small company that will grow to be a large company with a sustainable footprint. You can think of this in terms of market capitalization. Growth investors will buy a small-cap or mid-cap stock and own it for years until it matures as a large-cap stock. The best stocks to fit this strategy will usually have a high EPS growth rate and provide a product or service that is not a commodity. These companies create value for their customers, which creates a competitive advantage within their respective industries. Growth investors choose to invest in well-managed, fast-growing, appropriately-financed businesses that have significant competitive advantages and often solve societal problems. Here are four stocks with a high growth future.

Questcor Pharmaceuticals, Inc. (QCOR) is a biopharmaceutical company. QCOR's primary product is H.P. Acthar Gel (repository corticotropin injection) (Acthar), an injectable drug that is approved by the United States Food and Drug Administration (FDA). Acthar is approved for the treatment of 19 indications. The Company generates most of its net sales from two indications: the treatment of acute exacerbations of multiple sclerosis [MS], in adults, and the treatment of infantile spasms [IS], in infants and children under two years of age. Its other product is Doral (quazepam), which is indicated for the treatment of insomnia characterized by difficulty in falling asleep, frequent nocturnal awakenings, and/or early morning awakenings. Acthar label includes other indications, such as Rheumatic Disorders, Collagen Diseases, Dermatologic Diseases, Allergic States, Ophthalmic Diseases and Respiratory Diseases.

For the year that ended December 31, 2011, net sales totaled $218.2 million, compared to $115.1 million for the prior year. GAAP net income for the year ended December 31, 2011 was $79.6 million or $1.21 per diluted share, compared to GAAP net income of $35.1 million or $0.54 per diluted share for the year that ended December 31, 2010. Net sales growth was driven by the increasing numbers of physicians who are recognizing the potential for Acthar to help patients with MS and NS. QCOR is expected to grow EPS by 45% over the next 3-5 years. Based on a ten year forecast, QCOR is trading at a significant discount to fair value at its current stock price of $36.16.

Superior Energy Services, Inc. (SPN) is a provider of specialized oilfield services and equipment. The Company provides services, tools and liftboats to maintain, enhance and extend producing wells, as well as plug and abandonment services at the end of their life cycle. SPN focuses on serving the drilling-related needs of oil and gas companies through its drilling products and services segment, and the production-related needs of oil and gas companies through its subsea and well enhancement, drilling products and services and marine segments. It also owns oil and gas properties in the Gulf of Mexico.

We think SPN is poised for solid growth in 2012 on several fronts. First, we expect further recovery in the U.S. Gulf of Mexico, which suffered from regulatory-driven sluggishness in much of 2011, but which we think will see more activity next year. Second, we see further growth in U.S. land markets, particularly shale oil plays, as initial production rates continue to generate upstream enthusiasm. Third, we look for international growth, including from subsea interventions. Overall, we see SPN continuing to evolve into a much more diversified energy services provider than its historical roots in the U.S. Gulf of Mexico. SPN is also growing through acquisitions, such as its recent purchase of Complete Production Services (CPX). Our valuation model indicates that SPN is trading at a significant discount to fair value based on an 18.7% EPS growth rate.

Ubiquiti Networks, Inc. (UBNT) designs, manufactures and sells broadband wireless solutions worldwide. The Company offers a portfolio of wireless networking products and solutions, including systems, high performance radios, antennas and management tools designed for wireless networking and other applications in the unlicensed radio frequency [RF] spectrum.

UBNT announced that it expects third quarter earnings of $0.27 to $0.28 per share on revenue of $89.0 million to $91.0 million. The current consensus earnings estimate is $0.25 per share on revenue of $87.8 million for the quarter ending March 31, 2012. UBNT is trading at a 50% discount to fair value. This is a stock to purchase and sit on, as it will be a $10 billion market cap in 10 years.

Rackspace Hosting, Inc. (RAX) operates in the hosting and cloud computing industry. Rackspace Hosting offers its products under the Fanatical Support brand. As of December 31, 2010, the Company's products are sold to businesses in more than 120 countries. During the year ended December 31, 2010, it served more than 130,000 business customers, and it managed more than 66,000 servers, 2,100,000 e-mail accounts, and 417,000 cloud hosting domains.

In a release dated Feb. 13, RAX said net revenue for the fourth quarter of 2011 was $283 million, up 7.1 percent from the previous quarter and 32 percent from the fourth quarter of 2010. Net income was $25 million for the quarter, up 25.3 percent from the previous quarter and 85 percent from the fourth quarter of 2010. Net income margin for the quarter was 8.8 percent compared to 7.6 percent for the previous quarter and 6.3 percent in the fourth quarter of 2010. Expect to buy RAX on a pullback, as it is overvalued due to investor interest in cloud computing.

Source: 4 Small To Mid-Cap Stocks With A Bright Future