Hundreds of stocks hit new highs in the past week -- but I think some of those companies are just getting started.

Yesterday, I scanned the list yesterday for stocks that I think are headed for a fall. Now it's my turn to play the bullish optimist. I think the following highfliers haven't peaked yet:


Price on 5/19/10



LogMeIn (Nasdaq: LOGM)




OpenTable (Nasdaq: OPEN)




Whole Foods Market (Nasdaq: WFMI)




Internet Brands (Nasdaq: INET)




iRobot (Nasdaq: IRBT)




Source: Yahoo! Finance.

Let's examine why these rocket stocks might still have fuel in the tank.

One of last year's healthier IPOs was a small tech upstart that specializes in remote PC connectivity. LogMeIn went public at $16 last summer, and it hasn't really looked back.

Fellow Fool and shareholder Rich Smith dissected last month's quarterly results, providing insight into how big tech companies including Best Buy's (NYSE: BBY) Geek Squad rely on LogMeIn to provide software updates and computer fixes remotely. Revenue increased 24%. Net income grew even more quickly, though it may not seem that way on a per-share basis, given all of the new shares minted during the IPO.

It's important for newly public stocks not to disappoint in their first few quarters. LogMeIn was tearing it up as a private company on the top line, though annual losses plagued the company last summer. However, LogMeIn has been consistently profitable since going public. It has also posted better-than-expected adjusted earnings in each of its first three quarters since its IPO.

This online dining reservation specialist went public at $20 just a few weeks before LogMeIn, and it has gone on to more than double.

OpenTable doesn't only run its popular namesake site, allowing hungry diners to square away tables at thousands of popular restaurants. It also provides restaurants with an electronic reservations book that blends web-based seatings with old school call-ins, and helps eateries get to know their clientele a little better.

Restaurants may not seem like much of a growth industry. Everyone knows somebody who invested their life's savings into an eatery that bombed. OpenTable is working on an entirely different menu. Revenue rose 33% in its latest quarter, as adjusted earnings more than tripled. OpenTable is watching bookings grow even faster than it's signing up restaurants, so it's clearly helping indie eateries fill more tables.

And, yes, OpenTable has blown past analyst profit targets in each of its four quarters as a public company.

Whole Foods Market
The upscale grocer may have suffered during the recession, but it's now come through with back-to-back quarters of positive comps.

Whole Foods earned $0.39 a share in its latest blowout quarter, well ahead of the $0.33 a share that Mr. Market was banking on.

There may be cheaper organic plays out there. Whole Foods supplier Hain Celestial (Nasdaq: HAIN) is fetching a lower earnings multiple, but it's also having growth hiccups at the moment. Stick with Whole Foods. I singled it out in last month's column, and it has gone on to hit higher highs.

Investors may have shifted to more conventional "all-weather" supermarkets during the economic downturn, but Whole Foods is where you want to be as the economy bounces back.

Internet Brands
This dot-com portfolio was at the wrong URL at the wrong time when it went public a few years ago. Its collection of websites specializing in housing, automotive, and travel sites all had front-row seats to the bursting bubble.

Everything's starting to fall back into place for Internet Brands, though. Revenue grew 12% in its latest quarter, with unique visitors clocking in 22% higher. Earnings climbed 36% to $0.07 a share.

At this point in the economic recovery, its niche-specific sites are actually the right URLs at the right time.

After 20 years, this consumer and military robotics specialist is finally getting it right. This is the company behind the Roomba, the vacuum-cleaning orb with a mind of its own. The company also dabbles in automatons that clear our rain gutters, mop floors, and detect roadside bombs in the Middle East.

That last one is a doozy, but military robotics are clearly game-changers in keeping troops out of harm's way.

The real growth at iRobot actually comes from a boom in its international business for consumer gadgetry. Revenue surged 67% in its latest quarter, fueled largely by a surge in overseas sales.

Go, Roomba, go!

iRobot and OpenTable are Motley Fool Rule Breakers recommendations. Best Buy and Whole Foods Market are Motley Fool Stock Advisor picks. Motley Fool Options has recommended a bull call spread position on Best Buy. The Fool owns shares of Best Buy, which is also a Motley Fool Inside Value pick. Try any of our Foolish newsletters today, free for 30 days.

Longtime Fool contributor Rick Munarriz realizes that you don't know you've hit your peak until you're going downhill. He does own shares in any of the stocks in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.