Exploring Three High Growth Tech Stocks in the US Market

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Over the last 7 days, the United States market has remained flat, but it is up 33% over the past year with earnings expected to grow by 15% per annum over the next few years. In this context of strong annual growth expectations, identifying high growth tech stocks involves looking for companies that demonstrate robust innovation and adaptability in a dynamic environment.

Top 10 High Growth Tech Companies In The United States

Name

Revenue Growth

Earnings Growth

Growth Rating

Super Micro Computer

20.86%

27.98%

★★★★★★

Sarepta Therapeutics

23.58%

44.12%

★★★★★★

TG Therapeutics

28.39%

43.54%

★★★★★★

Invivyd

42.91%

70.39%

★★★★★★

Ardelyx

27.19%

66.44%

★★★★★★

Amicus Therapeutics

20.32%

62.37%

★★★★★★

AsiaFIN Holdings

60.53%

81.55%

★★★★★★

Travere Therapeutics

26.51%

69.33%

★★★★★★

Seagen

22.57%

71.80%

★★★★★★

ImmunoGen

26.00%

45.85%

★★★★★★

Click here to see the full list of 253 stocks from our US High Growth Tech and AI Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Kanzhun

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Kanzhun Limited, with a market cap of $8.05 billion, operates as an online recruitment service provider in the People's Republic of China through its subsidiaries.

Operations: The company generates revenue primarily from its Internet Information Providers segment, amounting to CN¥6.81 billion. As an online recruitment service provider, it focuses on connecting job seekers and employers through digital platforms in China.

Kanzhun Limited, navigating through a dynamic tech landscape, has demonstrated robust financial health with a 285.6% earnings surge over the past year, outpacing the industry's growth. With an aggressive R&D investment strategy, Kanzhun is poised to maintain its technological edge, reflecting in its revenue projections for Q4 2024 which are set to increase by up to 19.5% year-on-year. The company also strategically repurchased shares worth $7.99 million recently, underscoring confidence in its operational stability and future growth prospects within the competitive Chinese market.

NasdaqGS:BZ Revenue and Expenses Breakdown as at Oct 2024
NasdaqGS:BZ Revenue and Expenses Breakdown as at Oct 2024

Concentrix

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Concentrix Corporation provides technology-infused customer experience solutions globally and has a market cap of approximately $3.33 billion.

Operations: The company generates revenue primarily from its Software & Programming segment, amounting to approximately $9.40 billion.

Concentrix, amidst a challenging fiscal landscape, reported a significant revenue jump to $2.39 billion in Q3 2024 from $1.63 billion the previous year, yet net income dipped to $16.63 million from $77.64 million, reflecting tighter profit margins now at 2.1% compared to 5.3% last year. Despite these hurdles, the company's aggressive stance on innovation is evident with R&D expenses climbing sharply; this investment is critical as it propels forward into new tech frontiers, potentially offsetting slower revenue growth projections of 3.9% annually against an industry average of 8.7%. Moreover, Concentrix has demonstrated confidence in its trajectory by repurchasing shares worth $39.1 million during the recent quarter under review. This strategic focus on research and development not only underscores Concentrix's commitment to maintaining a competitive edge but also aligns with expected earnings growth of 50.9% per annum—significantly outpacing the broader U.S market forecast of 15%. The firm’s recent guidance suggests modest optimism with projected Q4 revenues between $2.42 billion and $2.47 billion despite foreign exchange headwinds; such financial maneuvers highlight a nuanced approach to navigating market dynamics while investing heavily in future capabilities which could drive sustained long-term growth.

NasdaqGS:CNXC Revenue and Expenses Breakdown as at Oct 2024
NasdaqGS:CNXC Revenue and Expenses Breakdown as at Oct 2024

monday.com

Simply Wall St Growth Rating: ★★★★★☆

Overview: monday.com Ltd., along with its subsidiaries, develops software applications across various regions including the United States, Europe, the Middle East, Africa, and the United Kingdom, with a market capitalization of approximately $13.53 billion.

Operations: The company generates revenue primarily through its Internet Software & Services segment, which accounts for $844.78 million. Operating globally, it focuses on developing software applications tailored to diverse regional markets.

monday.com, amidst a robust tech landscape, has pivoted impressively from a net loss to a profitable stance this year, signaling robust operational execution. With second-quarter sales surging to $236.11 million from $175.68 million the previous year and net income reaching $14.32 million compared to a prior loss, the trajectory is promising. The company's commitment to innovation is underscored by its R&D expenses which are integral in driving these financial outcomes and positioning it for sustained growth; notably, R&D investments have been pivotal in developing cutting-edge solutions like the newly released Portfolio management solution aimed at enhancing enterprise productivity. This strategic emphasis on research not only fuels monday.com’s product expansion but also aligns with its revenue forecast growth of 20.6% annually—outpacing the broader U.S market projection of 8.7%. Moreover, with earnings expected to surge by 28.2% per year, monday.com is setting a brisk pace within the tech sector that could redefine competitive benchmarks.

NasdaqGS:MNDY Earnings and Revenue Growth as at Oct 2024
NasdaqGS:MNDY Earnings and Revenue Growth as at Oct 2024

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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:BZ NasdaqGS:CNXC and NasdaqGS:MNDY.

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