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By Josh Enomoto, InvestorPlace
Investing in early bird innovators always presents risks but these types of tech stocks to buy generally offer the biggest upside potential. Sure, you can always bet on Nvidia (NASDAQ:NVDA) like everyone else. However, there may be much more robust rewards to be had betting on lesser-known enterprises.
It’s a tradeoff between predictability and profitability. By going after a well-established enterprise, you have reasonable assurances that the investment will rise in value. However, the upside could be limited. On the other hand, targeting smaller-capitalization firms presents huge predictability conundrums. Still, if the stars align, the ensuing upside could be massive.
It really comes down to your risk tolerance. If you can handle the heat, these are the tech stocks to buy.
Ouster (OUST)
Based in San Francisco, California, Ouster (NYSE:OUST) provides lidar sensors for the automotive, industrial, robotics and smart infrastructure sectors. Its products include high-resolution scanning and solid-state digital lidar sensors. In addition, the company offers analog lidar sensors and related software solutions. Given the broader push for autonomy, OUST could be one of the tech stocks to buy.
Experts have high hopes for OUST stock. Right now, they’ve set a moderate buy rating on OUST with a $13.25 average price target. That implies about 10% upside potential. During the trailing 12 months (TTM), the company posted a net loss of $220.68 million or $4.62 per share. However, during the period, sales landed at $91.99 million. Further, the quarterly revenue growth (year-over-year) rate stand sat 50.6%.
For fiscal 2024, analysts are targeting a loss per share of $2.31, a big improvement from last year’s loss of $10.10. On the top line, sales could hit $116.61 million, up 40%. Not only that, the high-side target could reach $118.9 million. It’s one of the top tech stocks to buy for speculators.
PAR Technology (PAR)
Headquartered in New Hartford, New York, PAR Technology (NYSE:PAR) with its subsidiaries provides omnichannel cloud-based hardware and software solutions. Its main clients are found in the restaurant and retail industries worldwide. For eateries specifically, PAR offers PUNCHH, an enterprise-grade customer loyalty and engagement solution. That could be vital since consumers are willing to spend; it’s just that they’re pickier about where they do their spending.
Analysts recognize the growth opportunity, rating shares a consensus moderate buy. Further, the average price target lands at $53.20, implying almost 21% upside potential. The high-side target goes up to $61. During the TTM period, the company posted a net loss of $72.14 million or down $2.57 per share. Still, during the period, revenue reached $420.88 million. The quarterly YOY growth rate came in at 5%.
For fiscal 2024, experts believe PAR will lose 67 cents per share, an improvement over last year’s loss of $1.52. On the top line, sales may reach $471 million, up 13.3% from 2023’s tally of $415.82 million. It’s another solid (albeit speculative) example of tech stocks to buy.
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Zuora (ZUO)
Hailing Redwood City, California, Zuora (NYSE:ZUO) falls under the infrastructure software sector. Per its public profile, the company provides what’s known as a monetization suite for modern businesses. Primarily, Zuora helps companies launch and scale new services. It also helps the customer experience (CX) angle, helping to nurture and build loyal followings.
With the competitive arena in the consumer economy, every customer counts. Zuora provides an edge for its clients, which makes it an intriguing idea among tech stocks to buy. Analysts are moderately bullish on the idea, forecasting a price per share of $12.20. That implies about 24% upside potential. During the TTM period, Zuroa lost $62.61 million or 44 cents per share. However, it also posted sales of $438.34 million.
For the current fiscal year (2025), experts believe that earnings per share will hit 43 cents, up 30.3% from the prior year. On the top line, sales might fly up to $454.22 million, up 5.2% from last year’s print of $431.66 million. Also, fiscal 2026’s consensus sales target lands at just under $497 million or up 9.4%.
Applied Optoelectronics (AAOI)
Based in Sugar Land, Texas, Applied Optoelectronics (NASDAQ:AAOI) designs, manufactures and sells fiber-optic networking products in the U.S., Taiwan and China. Per its corporate profile, Applied offers optic modules and fibers. It also specializes in lasers, laser components and various subassemblies. With the broader connectivity ecosystem becoming more complex while absorbing rising demand, Applied could see long-term growth.
Analysts are also keeping watch on AAOI, rating shares a consensus moderate buy. Their average price target lands at $15.33, implying 44.9% upside potential. Further, the high-side target hits $18, projecting over 70% growth. During the TTM period, Applied posted a net loss of $62.93 million or $1.79 per share. Revenue hit $205.29 million, though this admittedly represented a YOY loss of 23.3%.
However, some patience may be in order. Experts believe that Applied may incur a loss per share of 41 cents, slightly better than last year’s loss of 42 cents. On the top line, revenue could soar to $272.21 million. That would be up 25.1% from last year’s result of $217.65 million. For gamblers, AAOI could be one of the enticing tech stocks to buy.
Oddity (ODD)
Based in Israel, Oddity (NASDAQ:ODD) also falls under the infrastructure software space. According to its public profile, Oddity operates as a consumer tech firm that builds digital-first brands. Primarily, the enterprise focuses on the beauty and wellness industries in the U.S. along with other international markets. It may draw attention from speculators because it leverages artificial intelligence to identify consumer needs. From there, it brings solutions to the table.
With so much focus on AI, it’s inevitable that it would touch many other industries. Why should beauty care be any different? Indeed, analysts rate shares a consensus strong buy with a $53 average price target. That implies over 45% upside potential. During the TTM period, net income landed at $71.93 million or $1.26 per share. Revenue hit $554.66 million, up 27.8% on a YOY basis.
For fiscal 2024, experts believe that EPS will hit $1.60, implying 22.1% expansion. On the top line, sales may rise to $633.44 million, implying 24.5% up from last year’s haul of $508.69 million. Further, fiscal 2025 sales may reach $765.51 million. It’s worth consideration for tech stocks to buy.
ACM Research (ACMR)
Headquartered in Fremont, California, ACM Research (NASDAQ:ACMR) develops, manufactures and sells single wafer wet cleaning equipment. This process enhances manufacturing protocols and improves yield for integrated chips worldwide. With so much attention paid to semiconductor performance these days, investors may want to consider critical “stagehand” managers. One of the most important that keeps the wheels turning is ACM.
Analysts aren’t waiting around for approval from anyone. Presently, they rate shares a unanimous strong buy with an average price target of $37.91. That implies an upside potential of over 65%. Further, the high-side target lands at $40. During the TTM period, ACM posted a net income of $87.64 million, translating to $1.31 per share. Revenue during this time hit $635.66 million. The quarterly sales growth rate currently clocks in at 105%.
For fiscal 2024, experts are seeking an improvement in EPS of 6.7% to reach $1.74 per share. On the top line, sales could hit $698.81 million, a rise of 25.3% from last year’s tally of $557.72 million. In fiscal 2025, revenue may reach $865.79 million, up 23.9%. It’s one of the tech stocks to buy or at least to put on your radar.
Stratasys (SSYS)
Headquartered in Eden Prairie, Minnesota, Stratasys (NASDAQ:SSYS) is arguably the riskiest idea on this list of tech stocks to buy. According to its corporate profile, Stratasys focuses on a range of 3D printing systems. These include polyjet printers along with what’s known as fused deposition modeling (FDM) printers. To be fair, SSYS has tumbled almost 61% in the past five years. Still, a broader innovation sector renaissance could boost demand.
Analysts believe in SSYS, rating shares a consensus strong buy. Further, the average price target lands at $15, implying over 67% upside potential. In addition, the blue-sky price target screams toward $23. During the TTM period, Stratasys posted a net loss of $126.83 million or $1.83 per share. Revenue reached $622.27 million, which was actually a loss of 3.6% YOY.
On the bottom line, analysts are seeking EPS of 14 cents, an improvement of 27.3% from last year’s result of 11 cents. The top line could see stasis, coming in at $633.2 million (compared to last year’s $627.6 million). However, fiscal 2025 revenue could rise to $674.9 million, with a high-side target of $682 million.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.
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