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	$6.26B	$58.10	2.04%	$266.09M	17.34x	0.22
RIOT	RIOT PLATFORMS INC	NASDAQ	Software - Application	$2.82B	$9.78	2.95%	$426.08M	11.11x	0.06
DLO	DLOCAL LTD	NASDAQ	Software - Infrastructure	$4.02B	$13.58	1.19%	$306.16M	30.18x	1.43
EPAM	EPAM SYSTEMS INC	NYSE	Information Technology Services	$10.84B	$187.05	-1.92%	$664.41M	25.11x	0.26
LOGI	LOGITECH INTERNATIONAL SA	NASDAQ	Computer Hardware	$13.81B	$89.17	3.25%	$621.79M	28.76x	0.67
FSLR	FIRST SOLAR INC	NASDAQ	Solar	$20.01B	$186.97	-1.36%	$1.46B	19.50x	0.56
GDYN	GRID DYNAMICS HOLDINGS INC	NASDAQ	Information Technology Services	$794.29M	$10.38	2.27%	$19.87M	346.00x	0.14
OPRA	OPERA LTD	NASDAQ	Software - Infrastructure	$1.23B	$14.03	0.21%	$173.99M	8.25x	0.11
DV	DOUBLEVERIFY HOLDINGS INC	NYSE	Software - Application	$3.24B	$18.88	-2.13%	$137.64M	47.20x	0.15
BIDU	BAIDU INC	NASDAQ	Internet Content & Information	$38.37B	$109.42	-2.12%	$5.78B	14.11x	0.59
ELTK	ELTEK LTD	NASDAQ	Electronic Components	$63.04M	$10.47	2.55%	$8.61M	9.69x	0.76
YALA	YALLA GROUP LTD	NYSE	Software - Application	$775.28M	$4.89	1.24%	$123.39M	6.61x	0.13
SURG	SURGEPAYS INC	NASDAQ	Software - Application	$82.89M	$4.27	13.26%	$17.13M	3.56x	0.24
AGYS	AGILYSYS INC	NASDAQ	Software - Application	$2.52B	$92.16	14.90%	$25.15M	27.68x	0.51
ACLS	AXCELIS TECHNOLOGIES INC	NASDAQ	Semiconductor Equipment & Materials	$3.65B	$112.15	0.17%	$303.78M	14.68x	0.45
CTSH	COGNIZANT TECHNOLOGY SOLUTIONS CORP	NASDAQ	Information Technology Services	$33.70B	$67.78	-0.13%	$3.38B	16.25x	0.37
ACMR	ACM RESEARCH INC	NASDAQ	Semiconductor Equipment & Materials	$1.44B	$23.16	0.61%	$124.71M	15.86x	0.75
YMM	FULL TRUCK ALLIANCE CO LTD	NYSE	Software - Application	$9.25B	$8.78	-0.34%	$332.95M	31.70x	0.10
CRCT	CRICUT INC	NASDAQ	Computer Hardware	$1.62B	$7.48	4.32%	$131.30M	25.79x	0.31
GMM	GLOBAL MOFY METAVERSE LTD	NASDAQ	Information Technology Services	$26.52M	$0.93	-4.42%	$8.40M	3.57x	0.30
JKS	JINKOSOLAR HOLDING CO LTD	NYSE	Solar	$1.38B	$26.52	7.15%	$1.94B	2.89x	5.08
GCT	GIGACLOUD TECHNOLOGY INC	NASDAQ	Software - Infrastructure	$1.52B	$36.98	2.01%	$138.62M	14.28x	2.08
PERI	PERION NETWORK LTD	NASDAQ	Internet Content & Information	$594.61M	$12.39	0.90%	$118.09M	5.58x	0.37
PDD	PDD HOLDINGS INC	NASDAQ	Internet Retail	$190.82B	$138.69	-1.30%	$10.21B	22.62x	0.86
MPTI	M-TRON INDUSTRIES INC	NYSEMKT	Electronic Components	$79.40M	$28.37	-0.56%	$6.32M	17.40x	0.23
G	GENPACT LTD	NYSE	Information Technology Services	$6.13B	$34.07	0.44%	$769.86M	9.65x	1.06
CSCO	CISCO SYSTEMS INC	NASDAQ	Communication Equipment	$198.21B	$48.95	0.55%	$18.18B	14.79x	1.19
SWKS	SKYWORKS SOLUTIONS INC	NASDAQ	Semiconductors	$15.15B	$94.42	0.55%	$1.47B	17.62x	0.31
NTES	NETEASE INC	NASDAQ	Internet Content & Information	$63.34B	$98.64	-0.85%	$5.14B	15.59x	0.47
PGNY	PROGYNY INC	NASDAQ	Health Information Services	$2.62B	$27.48	0.29%	$76.22M	42.28x	0.39
RDVT	RED VIOLET INC	NASDAQ	Software - Application	$285.87M	$20.82	-0.86%	$12.79M	19.83x	0.12
HGBL	HERITAGE GLOBAL INC	NASDAQ	Software - Application	$83.64M	$2.24	0.90%	$14.16M	7.23x	0.33
ANET	ARISTA NETWORKS INC	NYSE	Computer Hardware	$98.29B	$313.66	1.22%	$2.73B	42.62x	0.34
AMD	ADVANCED MICRO DEVICES INC	NASDAQ	Semiconductors	$247.55B	$153.16	1.73%	$4.17B	221.97x	0.21
DAVA	ENDAVA PLC	NYSE	Software - Infrastructure	$1.75B	$29.98	-1.58%	N/A	20.24x	0.28
EXLS	EXLSERVICE HOLDINGS INC	NASDAQ	Information Technology Services	$4.92B	$30.27	-0.39%	$323.82M	27.67x	0.42
DOX	AMDOCS LTD	NASDAQ	Software - Infrastructure	$9.56B	$82.07	-2.30%	$849.15M	18.28x	0.80
SMCI	SUPER MICRO COMPUTER INC	NASDAQ	Computer Hardware	$48.16B	$822.37	5.06%	$1.20B	42.76x	0.74
HBB	HAMILTON BEACH BRANDS HOLDING CO	NYSE	Consumer Electronics	$257.88M	$18.23	0.66%	$43.20M	8.81x	1.54
AUDC	AUDIOCODES LTD	NASDAQ	Communication Equipment	$309.70M	$10.21	2.10%	$21.02M	28.36x	0.83
MSFT	MICROSOFT CORP	NASDAQ	Software - Infrastructure	$3.10T	$416.56	0.69%	$127.76B	35.94x	0.91
SHLS	SHOALS TECHNOLOGIES GROUP INC	NASDAQ	Solar	$1.20B	$7.03	-1.40%	$63.57M	39.06x	0.49
IMMR	IMMERSION CORP	NASDAQ	Software - Application	$281.28M	$8.83	5.12%	$58.12M	6.35x	0.22
SLP	SIMULATIONS PLUS INC	NASDAQ	Health Information Services	$988.46M	$49.46	0.84%	$16.85M	93.32x	0.10
OLED	UNIVERSAL DISPLAY CORP	NASDAQ	Semiconductor Equipment & Materials	$8.30B	$174.92	1.12%	$316.84M	37.94x	0.13
KARO	KAROOOOO LTD	NASDAQ	Software - Application	$840.63M	$27.16	-0.28%	N/A	23.99x	0.49
ADI	ANALOG DEVICES INC	NASDAQ	Semiconductors	$105.10B	$211.94	1.71%	$5.56B	37.64x	0.36
MOMO	HELLO GROUP INC	NASDAQ	Internet Content & Information	$1.13B	$6.05	-1.79%	$377.52M	4.22x	0.36
CDW	CDW CORP	NASDAQ	Information Technology Services	$29.78B	$221.58	-0.21%	$1.92B	27.32x	5.17
FI	FISERV INC	NYSE	Information Technology Services	$89.92B	$153.68	0.30%	$8.17B	28.62x	2.19
ON	ON SEMICONDUCTOR CORP	NASDAQ	Semiconductors	$31.40B	$72.99	0.91%	$3.21B	14.42x	0.66
QCOM	QUALCOMM INC	NASDAQ	Semiconductors	$210.89B	$188.97	2.58%	$11.06B	25.16x	1.17
GOOGL	ALPHABET INC	NASDAQ	Internet Content & Information	$2.11T	$170.34	0.71%	$108.32B	25.93x	0.39
RELL	RICHARDSON ELECTRONICS LTD	NASDAQ	Electronic Components	$150.64M	$10.55	0.67%	$6.03M	35.17x	0.22
TSEM	TOWER SEMICONDUCTOR LTD	NASDAQ	Semiconductors	$4.09B	$36.95	1.29%	$778.20M	8.30x	0.21
SCSC	SCANSOURCE INC	NASDAQ	Electronics & Computer Distribution	$1.19B	$48.08	2.71%	$147.30M	15.03x	0.89
TTD	TRADE DESK INC	NASDAQ	Software - Application	$42.15B	$86.18	-1.54%	$385.55M	210.20x	1.15
NSYS	NORTECH SYSTEMS INC	NASDAQ	Electronic Components	$42.37M	$15.37	-3.09%	$8.08M	6.03x	1.10
ABNB	AIRBNB INC	NASDAQ	Internet Content & Information	$94.48B	$146.70	-1.63%	$2.39B	19.05x	2.11
GRMN	GARMIN LTD	NYSE	Scientific & Technical Instruments	$32.64B	$169.91	0.32%	$1.48B	23.86x	0.19
IMXI	INTERNATIONAL MONEY EXPRESS INC	NASDAQ	Information Technology Services	$679.24M	$20.81	2.06%	$117.01M	12.17x	2.97
STNE	STONECO LTD	NASDAQ	Software - Application	$4.73B	$15.30	-8.11%	$1.34B	14.26x	2.45
PLAB	PHOTRONICS INC	NASDAQ	Semiconductor Equipment & Materials	$1.84B	$29.10	0.34%	$292.96M	12.93x	0.23
PAGS	PAGSEGURO DIGITAL LTD	NYSE	Software - Infrastructure	$4.16B	$12.62	-0.39%	$1.30B	12.50x	3.16
FFIV	F5 INC	NASDAQ	Software - Infrastructure	$10.08B	$171.93	0.31%	$751.69M	20.49x	0.84
ODD	ODDITY TECH LTD	NASDAQ	Software - Infrastructure	$2.46B	$43.30	10.71%	$98.48M	33.83x	0.53
ITRN	ITURAN LOCATION & CONTROL LTD	NASDAQ	Communication Equipment	$545.08M	$27.40	-0.54%	$84.11M	11.37x	0.79
AEHR	AEHR TEST SYSTEMS	NASDAQ	Semiconductor Equipment & Materials	$335.99M	$11.62	0.00%	$16.15M	21.92x	0.18
TASK	TASKUS INC	NASDAQ	Information Technology Services	$1.30B	$14.76	4.09%	$161.66M	28.38x	0.92
LYTS	LSI INDUSTRIES INC	NASDAQ	Electronic Components	$464.33M	$15.94	1.59%	$46.19M	16.60x	0.45
PANW	PALO ALTO NETWORKS INC	NASDAQ	Software - Infrastructure	$97.43B	$301.54	-0.23%	$1.21B	41.88x	3.20
AKAM	AKAMAI TECHNOLOGIES INC	NASDAQ	Software - Infrastructure	$14.19B	$93.13	-1.26%	$1.33B	22.55x	1.14
EEFT	EURONET WORLDWIDE INC	NASDAQ	Software - Infrastructure	$5.27B	$114.95	0.77%	$598.60M	19.32x	3.58
TAIT	TAITRON COMPONENTS INC	NASDAQ	Electronics & Computer Distribution	$19.03M	$3.16	-0.32%	$2.42M	10.19x	0.07
IBM	INTERNATIONAL BUSINESS MACHINES CORP	NYSE	Information Technology Services	$153.74B	$167.36	-0.12%	$14.86B	18.66x	4.89
SSTK	SHUTTERSTOCK INC	NYSE	Internet Content & Information	$1.53B	$42.81	2.56%	$183.54M	16.47x	0.90
YELP	YELP INC	NYSE	Internet Content & Information	$2.54B	$37.72	-0.66%	$190.75M	22.72x	0.38
ENPH	ENPHASE ENERGY INC	NASDAQ	Solar	$15.93B	$117.11	5.71%	$409.80M	57.69x	2.50
DSWL	DESWELL INDUSTRIES INC	NASDAQ	Electronic Components	$38.09M	$2.39	0.42%	$7.93M	6.21x	0.22
BABA	ALIBABA GROUP HOLDING LTD	NYSE	Internet Retail	$196.42B	$79.51	-6.02%	$18.27B	18.19x	0.66
GIB	CGI INC	NYSE	Information Technology Services	$23.82B	$102.34	0.63%	$2.03B	19.84x	0.78
INFY	INFOSYS LTD	NYSE	Information Technology Services	$70.32B	$16.95	0.18%	$4.68B	23.87x	0.66
DDOG	DATADOG INC	NASDAQ	Software - Application	$39.05B	$116.75	-1.28%	$206.67M	324.31x	0.88
SSNC	SS&C TECHNOLOGIES HOLDINGS INC	NASDAQ	Software - Application	$15.63B	$63.20	0.22%	$2.05B	24.40x	1.69
DDI	DOUBLEDOWN INTERACTIVE CO LTD	NASDAQ	Software - Application	$529.73M	$10.69	-14.00%	$142.22M	4.93x	0.10
JD	JDCOM INC	NASDAQ	Internet Retail	$52.43B	$33.35	-1.27%	$6.05B	15.68x	1.43
KEYS	KEYSIGHT TECHNOLOGIES INC	NYSE	Scientific & Technical Instruments	$26.45B	$151.50	1.20%	$1.56B	27.65x	0.88
MSI	MOTOROLA SOLUTIONS INC	NYSE	Communication Equipment	$60.22B	$361.05	0.85%	$2.24B	43.34x	24.55
PINS	PINTEREST INC	NYSE	Internet Content & Information	$28.71B	$42.02	0.41%	$82.70M	191.00x	0.17
FTNT	FORTINET INC	NASDAQ	Software - Infrastructure	$45.99B	$60.20	0.96%	$1.50B	39.09x	-56.72
AMSWA	AMERICAN SOFTWARE INC	NASDAQ	Software - Application	$331.54M	$9.98	-0.50%	$18.73M	27.72x	0.37
CSIQ	CANADIAN SOLAR INC	NASDAQ	Solar	$1.14B	$17.27	7.53%	N/A	5.54x	3.43
CPNG	COUPANG INC	NYSE	Internet Retail	$39.78B	$22.25	0.14%	$1.22B	31.34x	2.64
WB	WEIBO CORP	NASDAQ	Internet Content & Information	$2.36B	$9.72	-0.61%	$680.26M	6.70x	1.11
AVGO	BROADCOM INC	NASDAQ	Semiconductors	$639.54B	$1,380.03	3.18%	$19.94B	49.62x	1.53
EBAY	EBAY INC	NASDAQ	Internet Retail	$26.36B	$52.10	0.21%	$4.21B	10.36x	2.41
NTAP	NETAPP INC	NASDAQ	Computer Hardware	$22.50B	$109.04	0.82%	$1.50B	24.29x	8.43
VEEV	VEEVA SYSTEMS INC	NYSE	Health Information Services	$32.88B	$203.82	-0.02%	$632.34M	62.33x	0.27
TER	TERADYNE INC	NASDAQ	Semiconductor Equipment & Materials	$19.84B	$127.11	1.81%	$616.27M	45.40x	0.33
VIPS	VIPSHOP HOLDINGS LTD	NYSE	Internet Retail	$8.89B	$16.40	-2.44%	$1.58B	8.09x	0.91

Tech Industries

Industry	Stocks	1d %	1w %	1m %	1y %	P/E ratio	P/B Ratio	ROE	ROA	ROCE	Upside/Downside	Consensus
Communication Equipment	66	+1.63%	+2.83%	+11.37%	-2.56%	8.43x	2.83x	+32.53%	+8.60%	+15.54%	+14.85%	Buy
Computer Hardware	35	+3.43%	+3.93%	+2.42%	+150.48%	35.83x	13.93x	-25.89%	+10.72%	+18.06%	+14.20%	Strong Buy
Consumer Electronics	18	+2.53%	+3.29%	+7.76%	+1.46%	28.46x	23.02x	+142.88%	+28.04%	+54.20%	+17.62%	Buy
Electronic Components	41	+0.98%	+2.05%	+9.35%	+22.20%	21.57x	3.81x	+20.98%	+9.69%	+14.98%	+5.42%	Buy
Electronics & Computer Distribution	10	+0.93%	+2.51%	-0.08%	+36.49%	14.81x	1.43x	+11.26%	+3.61%	+11.72%	-1.00%	Hold
Information Technology Services	60	+0.03%	-1.34%	+0.70%	+18.80%	26.99x	4.62x	+24.45%	+8.10%	+16.40%	+15.97%	Buy
Scientific & Technical Instruments	33	+1.10%	+0.38%	+6.43%	+8.41%	12.62x	3.23x	+8.70%	+6.37%	+9.25%	+6.91%	Buy
Semiconductor Equipment & Materials	30	+1.16%	+1.61%	+2.54%	+49.02%	37.35x	11.78x	+50.93%	+18.22%	+30.71%	+9.51%	Buy
Semiconductors	71	+1.91%	+3.40%	+6.96%	+44.06%	65.73x	8.32x	+51.94%	+29.92%	+33.67%	+11.15%	Buy
Software - Application	278	+0.87%	+0.76%	+2.87%	+21.15%	8.33x	6.51x	+5.11%	+4.33%	+7.54%	+18.11%	Buy
Software - Infrastructure	136	+0.52%	+0.59%	+1.75%	+24.84%	43.80x	11.35x	+26.55%	+15.13%	+24.45%	+20.32%	Buy
Solar	24	+2.44%	-1.85%	+2.97%	-49.06%	37.35x	2.67x	+15.24%	+7.15%	+11.44%	+30.39%	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 44 points higher than the tech sector average of 28. It passed 23 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 14.37% over the past year, underperforming other tech stocks by -11 percentage points.

Rambus has an average 1 year price target of $81.67, an upside of 40.56% from Rambus's current stock price of $58.10.

Rambus stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 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. Riot Platforms (NASDAQ:RIOT)

Riot Platforms (NASDAQ:RIOT) is the second best tech stock with a Zen Score of 68, which is 40 points higher than the tech sector average of 28. It passed 22 out of 33 due diligence checks and has strong fundamentals. Riot Platforms has seen its stock lose -11.73% over the past year, underperforming other tech stocks by -37 percentage points.

Riot Platforms has an average 1 year price target of $17.86, an upside of 82.59% from Riot Platforms's current stock price of $9.78.

Riot Platforms stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Riot Platforms, 57.14% have issued a Strong Buy rating, 42.86% have issued a Buy, 0% have issued a Hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Dlocal (NASDAQ:DLO)

Dlocal (NASDAQ:DLO) is the third best tech stock with a Zen Score of 66, which is 38 points higher than the tech sector average of 28. It passed 22 out of 33 due diligence checks and has strong fundamentals. Dlocal has seen its stock lose -7.71% over the past year, underperforming other tech stocks by -33 percentage points.

Dlocal has an average 1 year price target of $18.71, an upside of 37.81% from Dlocal's current stock price of $13.58.

Dlocal stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Dlocal, 42.86% have issued a Strong Buy rating, 0% have issued a Buy, 57.14% 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. 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 4.14%. 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.

2. 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 4.14%. 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.

3. Wisekey International Holding Sa (NASDAQ:WKEY)

Wisekey International Holding Sa (NASDAQ:WKEY) has an annual dividend yield of 149.73%, which is 146 percentage points higher than the tech sector average of 4.14%.

Wisekey International Holding Sa's dividend payout ratio of -36.3% indicates that its high dividend yield might not be sustainable for the long-term.

Why are tech stocks up?

Tech stocks were up 1.09% in the last day, and up 1.26% over the last week. Sunpower was the among the top gainers in the technology sector, gaining 59.64% yesterday.

SunPower shares are trading lower after Wolfe Research downgraded the stock from Peer Perform to Underperform. The stock is also experiencing continued volatility amid increased retail investor interest.

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 -9.77% in the past year. It has underperformed other stocks in the tech sector by -35 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 -12.38% in the past year. It has underperformed other stocks in the tech sector by -38 percentage points.

3. Skyworks Solutions (NASDAQ:SWKS)

Skyworks Solutions (NASDAQ:SWKS) is the third most undervalued tech stock based on WallStreetZen's Valuation Score. Skyworks Solutions 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.

Skyworks Solutions's stock has dropped -5.1% in the past year. It has underperformed other stocks in the tech sector by -31 percentage points.

Are tech stocks a good buy now?

41.37% of tech stocks rated by analysts are a strong buy right now. On average, analysts expect tech stocks to rise by 15.06% 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 40.67x.

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.