Sectors & IndustriesTechnology
Best Tech Stocks to Buy Now (2024)
Top tech stocks in 2024 ranked by overall Zen Score. See the best tech stocks to buy now, according to analyst forecasts for the technology sector.

Sector: Technology

Zen Score Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Exchange	Industry	Market Cap	Price	1d %	EBITDA	P/E	D/E
RMBS	RAMBUS INC	NASDAQ	Semiconductors	$6.11B	$56.70	1.39%	$266.09M	16.93x	0.22
LOGI	LOGITECH INTERNATIONAL SA	NASDAQ	Computer Hardware	$13.12B	$84.76	-0.05%	$621.79M	27.34x	0.67
EPAM	EPAM SYSTEMS INC	NYSE	Information Technology Services	$10.63B	$183.40	0.81%	$664.41M	24.62x	0.26
AGYS	AGILYSYS INC	NASDAQ	Software - Application	$2.24B	$81.81	0.96%	$25.15M	24.57x	0.51
YMM	FULL TRUCK ALLIANCE CO LTD	NYSE	Software - Application	$9.04B	$8.58	0.12%	$332.95M	30.97x	0.10
GDYN	GRID DYNAMICS HOLDINGS INC	NASDAQ	Information Technology Services	$782.81M	$10.23	-2.76%	$19.87M	341.00x	0.14
FSLR	FIRST SOLAR INC	NASDAQ	Solar	$20.45B	$191.05	-1.32%	$1.46B	19.92x	0.56
DLO	DLOCAL LTD	NASDAQ	Software - Infrastructure	$3.85B	$13.26	-1.27%	$307.45M	26.00x	1.38
DV	DOUBLEVERIFY HOLDINGS INC	NYSE	Software - Application	$3.25B	$18.89	0.32%	$137.64M	47.23x	0.15
ELTK	ELTEK LTD	NASDAQ	Electronic Components	$62.92M	$10.45	1.06%	$8.61M	9.68x	0.76
ACLS	AXCELIS TECHNOLOGIES INC	NASDAQ	Semiconductor Equipment & Materials	$3.70B	$113.79	0.66%	$303.78M	14.89x	0.45
CTSH	COGNIZANT TECHNOLOGY SOLUTIONS CORP	NASDAQ	Information Technology Services	$33.30B	$66.98	0.27%	$3.38B	16.06x	0.37
ACMR	ACM RESEARCH INC	NASDAQ	Semiconductor Equipment & Materials	$1.43B	$23.13	-8.56%	$124.71M	15.84x	0.75
ARRY	ARRAY TECHNOLOGIES INC	NASDAQ	Solar	$1.94B	$12.76	2.00%	$221.45M	31.12x	4.47
CRCT	CRICUT INC	NASDAQ	Computer Hardware	$1.53B	$7.05	-10.31%	$131.30M	24.31x	0.31
YALA	YALLA GROUP LTD	NYSE	Software - Application	$748.32M	$4.72	-3.28%	$123.39M	6.38x	0.13
JKS	JINKOSOLAR HOLDING CO LTD	NYSE	Solar	$1.24B	$23.73	-9.12%	$1.94B	2.58x	5.08
GCT	GIGACLOUD TECHNOLOGY INC	NASDAQ	Software - Infrastructure	$1.53B	$37.35	-5.97%	$138.62M	14.42x	2.08
RDVT	RED VIOLET INC	NASDAQ	Software - Application	$279.69M	$20.37	-1.59%	$12.79M	19.40x	0.12
CSCO	CISCO SYSTEMS INC	NASDAQ	Communication Equipment	$194.60B	$48.06	0.56%	$18.18B	14.52x	1.19
SWKS	SKYWORKS SOLUTIONS INC	NASDAQ	Semiconductors	$14.79B	$92.20	-0.05%	$1.47B	17.20x	0.31
TASK	TASKUS INC	NASDAQ	Information Technology Services	$1.20B	$13.60	2.10%	$161.66M	26.15x	0.92
AMD	ADVANCED MICRO DEVICES INC	NASDAQ	Semiconductors	$245.55B	$151.92	-0.31%	$4.17B	220.17x	0.21
ANET	ARISTA NETWORKS INC	NYSE	Computer Hardware	$98.41B	$314.03	6.07%	$2.73B	42.67x	0.34
G	GENPACT LTD	NYSE	Information Technology Services	$5.98B	$33.20	3.59%	$769.86M	9.41x	1.06
KARO	KAROOOOO LTD	NASDAQ	Software - Application	$828.56M	$26.77	-0.59%	N/A	23.65x	0.49
LYTS	LSI INDUSTRIES INC	NASDAQ	Electronic Components	$462.87M	$15.89	-1.12%	$46.19M	16.55x	0.45
AUDC	AUDIOCODES LTD	NASDAQ	Communication Equipment	$301.51M	$9.94	0.30%	$21.02M	27.61x	0.83
EXLS	EXLSERVICE HOLDINGS INC	NASDAQ	Information Technology Services	$4.98B	$30.63	0.29%	$323.82M	28.00x	0.42
SMCI	SUPER MICRO COMPUTER INC	NASDAQ	Computer Hardware	$46.76B	$798.50	-0.15%	$1.20B	41.52x	0.74
IMMR	IMMERSION CORP	NASDAQ	Software - Application	$264.40M	$8.30	2.72%	$58.12M	5.97x	0.22
ODD	ODDITY TECH LTD	NASDAQ	Software - Infrastructure	$2.11B	$37.18	-2.18%	$98.48M	29.05x	0.53
DAVA	ENDAVA PLC	NYSE	Software - Infrastructure	$1.78B	$30.49	-3.27%	N/A	20.59x	0.28
ADI	ANALOG DEVICES INC	NASDAQ	Semiconductors	$102.75B	$207.19	1.17%	$5.56B	36.80x	0.36
OLED	UNIVERSAL DISPLAY CORP	NASDAQ	Electronic Components	$8.12B	$171.08	-1.54%	$316.84M	37.11x	0.13
MSFT	MICROSOFT CORP	NASDAQ	Software - Infrastructure	$3.08T	$414.74	0.59%	$127.76B	35.78x	0.91
DOX	AMDOCS LTD	NASDAQ	Software - Infrastructure	$9.70B	$83.23	1.87%	$849.15M	18.54x	0.80
CDW	CDW CORP	NASDAQ	Information Technology Services	$29.90B	$222.46	-0.23%	$1.92B	27.43x	5.17
QCOM	QUALCOMM INC	NASDAQ	Semiconductors	$203.20B	$182.08	0.85%	$11.06B	24.25x	1.17
ON	ON SEMICONDUCTOR CORP	NASDAQ	Semiconductors	$30.31B	$70.46	-1.12%	$3.21B	13.92x	0.66
FI	FISERV INC	NYSE	Information Technology Services	$90.23B	$154.22	-0.29%	$8.17B	28.72x	2.19
RELL	RICHARDSON ELECTRONICS LTD	NASDAQ	Electronic Components	$148.35M	$10.39	-3.62%	$6.03M	34.63x	0.22
SCSC	SCANSOURCE INC	NASDAQ	Electronics & Computer Distribution	$1.17B	$47.33	-0.11%	$147.30M	14.79x	0.89
TSEM	TOWER SEMICONDUCTOR LTD	NASDAQ	Semiconductors	$4.07B	$36.71	0.74%	$778.20M	8.25x	0.21
IMXI	INTERNATIONAL MONEY EXPRESS INC	NASDAQ	Software - Infrastructure	$675.65M	$20.70	-1.99%	$117.01M	12.11x	2.97
UMC	UNITED MICROELECTRONICS CORP	NYSE	Semiconductors	$20.20B	$8.06	1.51%	$3.33B	10.68x	0.59
STNE	STONECO LTD	NASDAQ	Software - Infrastructure	$5.13B	$16.60	-0.60%	$1.34B	16.60x	2.33
GRMN	GARMIN LTD	NYSE	Scientific & Technical Instruments	$32.45B	$168.93	-0.22%	$1.48B	23.73x	0.19
PAGS	PAGSEGURO DIGITAL LTD	NYSE	Software - Infrastructure	$4.15B	$12.60	-0.55%	$1.30B	12.48x	3.16
PLAB	PHOTRONICS INC	NASDAQ	Semiconductor Equipment & Materials	$1.83B	$28.92	-1.40%	$292.96M	12.85x	0.23
SSNC	SS&C TECHNOLOGIES HOLDINGS INC	NASDAQ	Software - Application	$15.57B	$62.96	-0.73%	$2.05B	24.31x	1.69
FFIV	F5 INC	NASDAQ	Software - Infrastructure	$10.06B	$171.62	0.34%	$751.69M	20.46x	0.84
SHLS	SHOALS TECHNOLOGIES GROUP INC	NASDAQ	Solar	$1.18B	$6.94	-9.58%	$63.57M	38.56x	0.49
AEHR	AEHR TEST SYSTEMS	NASDAQ	Semiconductor Equipment & Materials	$322.11M	$11.14	-2.62%	$16.15M	21.02x	0.18
ITRN	ITURAN LOCATION & CONTROL LTD	NASDAQ	Communication Equipment	$548.47M	$27.57	0.47%	$84.11M	11.44x	0.79
HOOD	ROBINHOOD MARKETS INC	NASDAQ	Software - Infrastructure	$14.26B	$16.23	-6.18%	$206.00M	108.20x	5.69
AMSWA	AMERICAN SOFTWARE INC	NASDAQ	Software - Application	$334.53M	$10.07	-1.66%	$18.73M	27.97x	0.37
PANW	PALO ALTO NETWORKS INC	NASDAQ	Software - Infrastructure	$96.11B	$297.47	0.61%	$1.21B	41.32x	3.20
AKAM	AKAMAI TECHNOLOGIES INC	NASDAQ	Software - Infrastructure	$13.89B	$91.19	-11.00%	$1.33B	22.08x	1.14
IBM	INTERNATIONAL BUSINESS MACHINES CORP	NYSE	Information Technology Services	$153.54B	$167.15	0.53%	$14.86B	18.63x	4.89
TAIT	TAITRON COMPONENTS INC	NASDAQ	Electronics & Computer Distribution	$19.15M	$3.18	0.32%	$2.42M	10.26x	0.07
MPTI	M-TRON INDUSTRIES INC	NYSEMKT	Electronic Components	$80.11M	$28.65	2.14%	$5.19M	22.21x	0.22
DSWL	DESWELL INDUSTRIES INC	NASDAQ	Electronic Components	$38.40M	$2.41	3.08%	$7.93M	6.26x	0.22
TTD	TRADE DESK INC	NASDAQ	Software - Application	$42.68B	$87.26	-1.59%	$385.55M	212.83x	1.15
ENPH	ENPHASE ENERGY INC	NASDAQ	Solar	$14.74B	$108.35	-2.50%	$409.80M	53.37x	2.50
EEFT	EURONET WORLDWIDE INC	NASDAQ	Software - Infrastructure	$5.23B	$114.08	-0.18%	$598.60M	19.17x	3.58
ZM	ZOOM VIDEO COMMUNICATIONS INC	NASDAQ	Software - Application	$19.06B	$61.97	1.37%	$957.83M	29.23x	0.24
INFY	INFOSYS LTD	NYSE	Information Technology Services	$69.99B	$16.87	-0.59%	$4.68B	23.76x	0.66
GIB	CGI INC	NYSE	Information Technology Services	$23.82B	$102.34	0.39%	$2.03B	19.84x	0.78
PAYS	PAYSIGN INC	NASDAQ	Software - Infrastructure	$256.42M	$4.84	-1.63%	$7.87M	37.23x	5.80
CRUS	CIRRUS LOGIC INC	NASDAQ	Semiconductors	$5.72B	$106.13	2.26%	$301.73M	32.36x	0.23
DDOG	DATADOG INC	NASDAQ	Software - Application	$39.80B	$118.97	2.68%	$206.67M	330.47x	0.88
KEYS	KEYSIGHT TECHNOLOGIES INC	NYSE	Scientific & Technical Instruments	$26.22B	$150.21	-0.53%	$1.56B	27.41x	0.88
AVGO	BROADCOM INC	NASDAQ	Semiconductors	$617.65B	$1,332.80	2.08%	$19.94B	47.93x	1.53
FTNT	FORTINET INC	NASDAQ	Software - Infrastructure	$44.43B	$58.16	0.09%	$1.50B	37.77x	-56.72
MSI	MOTOROLA SOLUTIONS INC	NYSE	Communication Equipment	$60.52B	$362.85	0.76%	$2.24B	43.56x	24.55
CSIQ	CANADIAN SOLAR INC	NASDAQ	Solar	$1.04B	$15.70	-9.14%	N/A	5.03x	3.43
TEL	TE CONNECTIVITY LTD	NYSE	Electronic Components	$44.77B	$146.19	0.06%	$3.50B	13.29x	0.82
CLMB	CLIMB GLOBAL SOLUTIONS INC	NASDAQ	Electronics & Computer Distribution	$253.24M	$55.23	-0.02%	$18.24M	21.41x	2.90
TER	TERADYNE INC	NASDAQ	Semiconductor Equipment & Materials	$19.19B	$122.92	0.25%	$616.27M	43.90x	0.33
HLIT	HARMONIC INC	NASDAQ	Communication Equipment	$1.33B	$11.39	0.35%	$13.45M	18.08x	0.81
BMI	BADGER METER INC	NYSE	Scientific & Technical Instruments	$5.77B	$196.38	-0.67%	$162.77M	56.27x	0.39
ADSK	AUTODESK INC	NASDAQ	Software - Application	$46.58B	$217.77	-0.39%	$1.23B	50.76x	5.23
IBEX	IBEX LTD	NASDAQ	Information Technology Services	$250.47M	$14.55	5.36%	$71.97M	6.93x	0.82
NTAP	NETAPP INC	NASDAQ	Computer Hardware	$22.39B	$108.50	0.30%	$1.50B	24.16x	8.43
ASGN	ASGN INC	NYSE	Information Technology Services	$4.60B	$100.29	0.94%	$450.70M	23.00x	0.87
ALGM	ALLEGRO MICROSYSTEMS INC	NASDAQ	Semiconductors	$5.17B	$26.76	-3.29%	$315.07M	23.27x	0.38
GLOB	GLOBANT SA	NYSE	Information Technology Services	$7.46B	$173.14	-0.02%	$361.66M	46.54x	0.55
ASML	ASML HOLDING NV	NASDAQ	Semiconductor Equipment & Materials	$365.98B	$930.29	1.83%	$9.88B	47.93x	1.83
ARW	ARROW ELECTRONICS INC	NYSE	Electronics & Computer Distribution	$6.73B	$126.43	0.67%	$1.42B	9.82x	2.54
AVT	AVNET INC	NASDAQ	Electronics & Computer Distribution	$4.68B	$51.75	0.00%	$1.16B	8.24x	1.47
OSIS	OSI SYSTEMS INC	NASDAQ	Electronic Components	$2.32B	$135.99	0.35%	$223.57M	18.28x	1.25
ZI	ZOOMINFO TECHNOLOGIES INC	NASDAQ	Software - Application	$4.77B	$12.76	1.43%	$475.20M	63.80x	2.37
NXPI	NXP SEMICONDUCTORS NV	NASDAQ	Semiconductors	$66.92B	$261.73	0.36%	$4.72B	23.90x	1.61
HPE	HEWLETT PACKARD ENTERPRISE CO	NYSE	Communication Equipment	$22.18B	$17.06	0.00%	$4.93B	11.53x	1.73
SPNS	SAPIENS INTERNATIONAL CORP N V	NASDAQ	Software - Application	$1.85B	$33.26	-2.63%	$101.79M	27.95x	0.54
DTST	DATA STORAGE CORP	NASDAQ	Information Technology Services	$39.44M	$5.70	1.79%	$1.76M	95.00x	0.18
MCHP	MICROCHIP TECHNOLOGY INC	NASDAQ	Semiconductors	$49.45B	$91.50	0.02%	$4.06B	21.08x	1.28
LRCX	LAM RESEARCH CORP	NASDAQ	Semiconductor Equipment & Materials	$119.68B	$915.42	0.87%	$4.43B	33.48x	1.28
HPQ	HP INC	NYSE	Computer Hardware	$29.15B	$29.72	0.24%	$4.51B	8.59x	-22.86

Tech Industries

Industry	Stocks	1d %	1w %	1m %	1y %	P/E ratio	P/B Ratio	ROE	ROA	ROCE	Upside/Downside	Consensus
Communication Equipment	65	+0.94%	+2.38%	+4.97%	-3.62%	8.89x	2.76x	+42.43%	+8.81%	+16.09%	+15.76%	Buy
Computer Hardware	38	+0.99%	+4.57%	-3.72%	+144.22%	34.85x	13.47x	-25.70%	+10.59%	+17.93%	+17.31%	Buy
Consumer Electronics	18	-1.26%	-2.40%	+2.40%	-5.14%	27.80x	22.19x	+143.10%	+28.08%	+54.28%	+22.95%	Buy
Electronic Components	44	+0.26%	+4.42%	+6.64%	+20.40%	20.88x	3.76x	+20.88%	+9.60%	+15.07%	+6.49%	Buy
Electronics & Computer Distribution	10	+0.45%	+3.72%	-1.09%	+36.02%	14.67x	1.41x	+11.28%	+3.61%	+11.73%	-0.27%	Hold
Information Technology Services	66	+0.35%	+1.11%	-2.11%	+18.35%	27.25x	4.52x	+24.38%	+8.06%	+16.35%	+16.92%	Buy
Scientific & Technical Instruments	33	-0.58%	+1.46%	+4.10%	+7.02%	13.06x	3.25x	+8.78%	+6.48%	+9.41%	+6.97%	Buy
Semiconductor Equipment & Materials	29	+1.18%	+2.77%	+0.30%	+53.29%	37.65x	11.84x	+50.98%	+18.24%	+30.78%	+9.03%	Buy
Semiconductors	69	+0.54%	+2.47%	+1.80%	+44.45%	64.08x	8.15x	+52.21%	+30.11%	+33.88%	+13.45%	Strong Buy
Software - Application	252	-0.35%	+1.24%	-3.57%	+26.47%	34.74x	6.45x	+5.51%	+4.43%	+7.63%	+19.58%	Buy
Software - Infrastructure	138	-0.18%	+0.61%	-3.03%	+15.17%	43.43x	11.42x	+26.59%	+15.24%	+24.60%	+21.16%	Buy
Solar	23	-3.17%	-5.79%	-8.40%	-48.94%	23.90x	2.51x	+11.55%	+7.43%	+11.54%	+36.55%	Buy

Tech Stocks FAQ

What are the best tech stocks to buy right now in May 2024?

According to Zen Score, the 3 best technology stocks to buy right now are:

1. Rambus (NASDAQ:RMBS)

Rambus (NASDAQ:RMBS) is the top tech stock with a Zen Score of 72, which is 43 points higher than the tech sector average of 29. It passed 23 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 15.1% over the past year, underperforming other tech stocks by -10 percentage points.

Rambus has an average 1 year price target of $85.00, an upside of 49.91% from Rambus's current stock price of $56.70.

Rambus stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Rambus, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a Hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Logitech International Sa (NASDAQ:LOGI)

Logitech International Sa (NASDAQ:LOGI) is the second best tech stock with a Zen Score of 67, which is 38 points higher than the tech sector average of 29. It passed 24 out of 38 due diligence checks and has strong fundamentals. Logitech International Sa has seen its stock return 32.64% over the past year, overperforming other tech stocks by 7 percentage points.

Logitech International Sa has an average 1 year price target of $93.83, an upside of 10.7% from Logitech International Sa's current stock price of $84.76.

Logitech International Sa stock has a consensus Hold recommendation according to Wall Street analysts. Of the 6 analysts covering Logitech International Sa, 33.33% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a Hold, while 0% have issued a Sell rating, and 16.67% have issued a Strong Sell.

3. Epam Systems (NYSE:EPAM)

Epam Systems (NYSE:EPAM) is the third best tech stock with a Zen Score of 66, which is 37 points higher than the tech sector average of 29. It passed 21 out of 33 due diligence checks and has strong fundamentals. Epam Systems has seen its stock lose -21.02% over the past year, underperforming other tech stocks by -47 percentage points.

Epam Systems has an average 1 year price target of $291.38, an upside of 58.87% from Epam Systems's current stock price of $183.40.

Epam Systems stock has a consensus Buy recommendation according to Wall Street analysts. Of the 16 analysts covering Epam Systems, 50% have issued a Strong Buy rating, 12.5% have issued a Buy, 37.5% have issued a Hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the tech stocks with highest dividends?

Out of 119 tech stocks that have issued dividends in the past year, the 3 tech stocks with the highest dividend yields are:

1. Virnetx Holding (NYSE:VHC)

Virnetx Holding (NYSE:VHC) has an annual dividend yield of N/A, which is N/A percentage points lower than the tech sector average of 4.57%. Virnetx Holding's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Virnetx Holding's dividend has shown consistent growth over the last 10 years.

Virnetx Holding's dividend payout ratio of -256.7% indicates that its dividend yield might not be sustainable for the long-term.

2. Sap Se (NYSE:SAP)

Sap Se (NYSE:SAP) has an annual dividend yield of N/A, which is N/A percentage points lower than the tech sector average of 4.57%. Sap Se's dividend payout is not stable, having dropped more than 10% four times in the last 10 years. Sap Se's dividend has shown consistent growth over the last 10 years.

Sap Se's dividend payout ratio of 49.1% indicates that its dividend yield is sustainable for the long-term.

3. Clearone (NASDAQ:CLRO)

Clearone (NASDAQ:CLRO) has an annual dividend yield of 165.2%, which is 161 percentage points higher than the tech sector average of 4.57%. Clearone's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Clearone's dividend has shown consistent growth over the last 10 years.

Clearone's dividend payout ratio of -5,000% indicates that its high dividend yield might not be sustainable for the long-term.

Why are tech stocks up?

Tech stocks were up 0.1% in the last day, and up 1.69% over the last week. Inseego was the among the top gainers in the technology sector, gaining 30.99% yesterday.

Inseego shares are trading higher after the company reported better-than-expected Q1 financial results and issued Q2 revenue guidance above estimates.

What are the most undervalued tech stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued tech stocks right now are:

1. Cricut (NASDAQ:CRCT)

Cricut (NASDAQ:CRCT) is the most undervalued tech stock based on WallStreetZen's Valuation Score. Cricut has a valuation score of 100, which is 79 points higher than the tech sector average of 21. It passed 7 out of 7 valuation due diligence checks.

Cricut's stock has dropped -21.93% in the past year. It has underperformed other stocks in the tech sector by -47 percentage points.

2. Axcelis Technologies (NASDAQ:ACLS)

Axcelis Technologies (NASDAQ:ACLS) is the second most undervalued tech stock based on WallStreetZen's Valuation Score. Axcelis Technologies has a valuation score of 100, which is 79 points higher than the tech sector average of 21. It passed 7 out of 7 valuation due diligence checks.

Axcelis Technologies's stock has dropped -9.86% in the past year. It has underperformed other stocks in the tech sector by -35 percentage points.

3. International Money Express (NASDAQ:IMXI)

International Money Express (NASDAQ:IMXI) is the third most undervalued tech stock based on WallStreetZen's Valuation Score. International Money Express has a valuation score of 100, which is 79 points higher than the tech sector average of 21. It passed 7 out of 7 valuation due diligence checks.

International Money Express's stock has dropped -14.95% in the past year. It has underperformed other stocks in the tech sector by -40 percentage points.

Are tech stocks a good buy now?

41.07% of tech stocks rated by analysts are a strong buy right now. On average, analysts expect tech stocks to rise by 16.34% over the next year.

What is the average p/e ratio of the technology sector?

The average P/E ratio of the technology sector is 43.12x.

WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.