Global streaming giant Netflix Inc. finished 2015 with a fantastic 134.38% gain in stock price. But now, the stock seems to have lost its mojo and it's down 14.06% year-to-date (YTD).

If you're looking for another stock with Netflix-like growth potential, here are two strong candidates. They're research-and-development-intensive companies that are poised to be among the growth stock winners of 2016.

DATA Chart DATA data by YCharts

Tableau Software Inc. (DATA)

Tableau Software helps people visualize and interpret data. With its innovative and easy-to-use analytics platform, Tableau Software has effectively moved business intelligence and data analytics away from the bastion of tech-geeks to everyday folk, allowing them to access and analyze data and execute resultant ideas.

Today, organizations put a premium on business intelligence and Tableau helps the lay professionals leverage vast amounts of data.

The massive 48.42% YTD drop in Tableau shares is a window of opportunity for investors. So far, pundits have only dwelled on the company's negatives, like the slowdown in licensing growth.

The company has grown revenues at a three-year average of 72.3%, so analysts have pinned a lot of high expectations on the stock, which means even a little downtick is a large disappointment.

Netflix's 10-year average revenue growth rate is at about 26%. But at 4.24 times price-to-earnings to growth (PEG ratio), Tableau is one of the cheapest stocks in the application software industry (which, as a whole, has a PEG ratio of nearly 29).

A large part of this discount is due to the 50% decline in share value from 2015 highs. With next year's earnings-per-share (EPS) growth estimated to clock 94.10%, Tableau is clearly here to stay. Add to this a five-year EPS growth outlook of over 30%, and you know things are as solid as they could get.

Tableau also is a low-debt tech company in an emerging field, qualities we look for in an investment.

We prefer Tableau over machine data analytics leaders like Splunk and Qlik Technologies, given Tableau's competitive position and growth opportunity.

The consensus forecast among 32 analysts covering the stock is that it will outperform the market. We estimate that in next 12 months or so, Tableau will hit over $60 levels.

MDVN Chart MDVN data by YCharts

Medivation (MDVN)

This biopharmaceutical company is engaged in the development of novel small molecule drugs to treat diseases like Alzheimer's disease and Huntington disease. The right biotech firms can provide explosive gains; Medivation could be one of them.

 

In 2008, the company saw sales of merely $13 million but by 2015 the top line was knocking at the $1 billion mark. It's expected to top the $1 billion sales mark somewhere in 2017, when it's projected to clock 25% sales growth. Further, a five-year EPS year-over-year growth of 21.57% is pretty impressive.

In all likelihood, the company will beat estimates yet again, as was the case for its fourth quarter earnings report card. This solid performance and strong growth potential has attracted Bank of America analysts, who have a price target of $46 on the stock. That's actually a dollar less than the 12-month consensus price target of 17 analysts tracking Medivation.

At a PEG ratio of 1.30 (the S&P 500 is trading at 1.71), the stock is deeply undervalued. If its drug bets pan out, the company could easily surpass Netflix's returns story by a massive margin.

As we've just explained, Tableau and Medivation are exciting under-the-radar growth stories. We've also found a small-cap biotech "rocket stock" that's about to take off. UCLA researchers are stunned by a Nobel Prize-winning cancer breakthrough that's proven in clinical trials to eliminate lethal forms of cancer with a single dose. One small company owns the patent to this life-saving treatment. Now trading at about $5 a share, the stock of this innovative company is projected to surge 2,700% on an imminent FDA announcement. To download the full report, click here.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.