The United States market has shown robust performance, climbing 2.2% in the last 7 days and up 33% over the past 12 months, with earnings forecasted to grow by 15% annually. In this favorable environment, identifying high growth tech stocks involves looking for companies that demonstrate strong innovation potential and adaptability to capture expanding market opportunities.
|
Name |
Revenue Growth |
Earnings Growth |
Growth Rating |
|---|---|---|---|
|
Super Micro Computer |
23.83% |
24.32% |
★★★★★★ |
|
Bitdeer Technologies Group |
37.45% |
111.07% |
★★★★★★ |
|
Sarepta Therapeutics |
24.00% |
42.88% |
★★★★★★ |
|
Clene |
78.50% |
60.16% |
★★★★★★ |
|
TG Therapeutics |
34.66% |
56.98% |
★★★★★★ |
|
Alnylam Pharmaceuticals |
22.45% |
70.66% |
★★★★★★ |
|
Alkami Technology |
21.89% |
98.60% |
★★★★★★ |
|
Travere Therapeutics |
31.70% |
72.51% |
★★★★★★ |
|
Seagen |
22.57% |
71.80% |
★★★★★★ |
|
ImmunoGen |
26.00% |
45.85% |
★★★★★★ |
Click here to see the full list of 250 stocks from our US High Growth Tech and AI Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Cadence Design Systems, Inc. offers software, hardware, services, and reusable integrated circuit (IC) design blocks globally and has a market cap of $85.53 billion.
Operations: Cadence generates revenue primarily from its CAD/CAM software segment, which contributes $4.35 billion. The company’s business model revolves around providing design solutions for integrated circuits through a combination of software and hardware offerings.
Cadence Design Systems has demonstrated a consistent focus on innovation, as evidenced by its substantial investment in R&D, which aligns with its strategic acquisitions to bolster organic growth. In the recent financial quarter, Cadence reported a revenue increase to $1.22 billion from $1.02 billion year-over-year, reflecting a solid 12% growth rate. Despite slightly lower net income figures this quarter compared to last year, the company’s commitment to expanding through both organic means and targeted mergers and acquisitions (M&A) underscores its proactive stance in maintaining industry competitiveness. Additionally, Cadence’s recent share repurchase of over 562,000 shares for $151 million further indicates confidence in its operational strategy and future prospects.
Simply Wall St Growth Rating: ★★★★★☆
Overview: Datadog, Inc. provides an observability and security platform for cloud applications across North America and globally, with a market cap of $52.60 billion.
Operations: Datadog generates revenue primarily from its IT Infrastructure segment, amounting to $2.54 billion. The company focuses on providing a platform for cloud applications, emphasizing observability and security solutions internationally.
Datadog has emerged as a significant contender in the tech landscape, notably with its innovative Kubernetes Active Remediation tool, enhancing troubleshooting efficiencies for complex environments. This aligns with their recent financial uptick, where Q3 sales surged to $690 million from $547 million year-over-year and net income more than doubled to $51.7 million. The firm’s strategic R&D investments are reflected in its robust earnings growth forecast of 23.7% annually, outpacing the broader US market’s expectation of 15.2%. This growth trajectory is supported by Datadog’s proactive approach to expanding its service capabilities and deepening market penetration, positioning it well for sustained advancement in the dynamic tech sector.
Simply Wall St Growth Rating: ★★★★★☆
Overview: Snap Inc. is a technology company that operates in North America, Europe, and internationally, with a market cap of $19.15 billion.
Operations: Snap generates revenue primarily through its Software & Programming segment, amounting to $5.17 billion.
Snap’s recent financial disclosures reveal a mixed performance, with third-quarter sales rising to $1.37 billion, marking a 15.5% increase from the previous year, alongside a narrowed net loss of $153.25 million compared to last year’s $368.26 million in the same period. This improvement is underscored by an aggressive strategy to enhance shareholder value through a newly announced $500 million share repurchase program, funded from existing cash reserves. Additionally, Snap’s commitment to innovation and market adaptation is evident in its R&D investments which are crucial for reversing its current unprofitable status and achieving forecasted earnings growth of 64.2% annually—a robust outlook that suggests potential profitability within three years amidst challenging industry dynamics.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NasdaqGS:CDNS NasdaqGS:DDOG and NYSE:SNAP.
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