High Growth Tech Stocks To Watch In August 2024
Over the last 7 days, the United States market has risen 3.1%, contributing to a remarkable 25% increase over the past 12 months, with earnings expected to grow by 15% per annum over the next few years. In this thriving environment, identifying high-growth tech stocks becomes crucial for investors aiming to capitalize on these favorable conditions.
Top 10 High Growth Tech Companies In The United States
Name | Revenue Growth | Earnings Growth | Growth Rating |
---|---|---|---|
Sarepta Therapeutics | 24.22% | 44.94% | ★★★★★★ |
TG Therapeutics | 28.62% | 43.05% | ★★★★★★ |
Super Micro Computer | 20.76% | 35.00% | ★★★★★★ |
Ardelyx | 27.44% | 65.50% | ★★★★★★ |
Iris Energy | 70.63% | 125.09% | ★★★★★★ |
G1 Therapeutics | 24.26% | 51.62% | ★★★★★★ |
Invivyd | 42.85% | 71.50% | ★★★★★★ |
Amicus Therapeutics | 20.45% | 61.85% | ★★★★★★ |
Seagen | 22.57% | 71.80% | ★★★★★★ |
ImmunoGen | 26.00% | 45.85% | ★★★★★★ |
Click here to see the full list of 252 stocks from our US High Growth Tech and AI Stocks screener.
Let's dive into some prime choices out of from the screener.
Lumentum Holdings
Simply Wall St Growth Rating: ★★★★★☆
Overview: Lumentum Holdings Inc. manufactures and sells optical and photonic products across the Americas, Asia-Pacific, Europe, the Middle East, and Africa with a market cap of $3.81 billion (NasdaqGS:LITE).
Operations: Lumentum Holdings Inc. generates revenue primarily from two segments: Industrial Tech ($274.30 million) and Cloud & Networking ($1.08 billion). The company operates across multiple regions, including the Americas, Asia-Pacific, Europe, the Middle East, and Africa.
Lumentum Holdings, a prominent player in the tech sector, has forecasted its revenue to grow at 16.9% per year, outpacing the US market's 8.8%. Despite reporting a net loss of $252.5 million for Q4 2024 and $546.5 million for the full year, its earnings are projected to surge by 114.4% annually moving forward. Significant R&D investments are evident with expenditures contributing substantially to future innovation and growth potential in their optical communications segment.
Dynatrace
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Dynatrace, Inc. offers a security platform for multicloud environments across various regions including North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America with a market cap of $14.86 billion.
Operations: Dynatrace, Inc. generates revenue primarily from its Internet Software & Services segment, amounting to $1.50 billion. The company's operations span multiple regions including North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.
Dynatrace's revenue growth of 13.7% per year, although slower than the desired 20%, still surpasses the US market's 8.8%. The company's earnings are projected to grow at a robust 22.4% annually, highlighting strong future potential. Significant R&D investments, totaling $239 million in 2023, underscore its commitment to innovation in AI-driven software solutions for enterprises. Recent earnings reported $399.22 million in Q1 revenue and net income of $38.62 million, reflecting steady performance amidst evolving market dynamics.
Globant
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Globant S.A., along with its subsidiaries, offers technology services globally and has a market cap of $8.69 billion.
Operations: With a market cap of $8.69 billion, Globant S.A. generates revenue primarily from its Software & Programming segment, which reported $2.28 billion in revenue. The company focuses on providing technology services across various global markets.
Globant's recent guidance projects third-quarter revenues between $611 million and $617 million, reflecting a 12.1% to 13.2% year-over-year increase, while full-year revenue is expected to grow by up to 15.5%. The company reported Q2 sales of $587.46 million with net income at $38.66 million, showcasing steady performance amid evolving market conditions. Significant R&D investments are evident with a focus on AI-driven solutions; for instance, their proprietary AI Agents aim to enhance software development cycles significantly.
Delve into the full analysis health report here for a deeper understanding of Globant.
Gain insights into Globant's historical performance by reviewing our past performance report.
Where To Now?
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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:LITE NYSE:DT and NYSE:GLOB.
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