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Alberto Abaterusso
Alberto Abaterusso
Articles (2147) 

3 Tech Growth Stocks to Consider

They improved their quarterly top and bottom lines recently

May 29, 2020 | About:

Investors focusing on growing technology companies may want to have a look at the following stocks, as they have recorded significant year-over-year increases in their quarterly revenues and net income.

Take-Two Interactive Software Inc

The first company to consider is Take-Two Interactive Software Inc (NASDAQ:TTWO), a New York-based video game developer and marketer of solutions to interactively entertain consumers worldwide.

The company saw its quarterly revenue grow by 41% to $760.54 million in the fourth quarter of fiscal 2020, which ended on March 30, up from $539 million in the prior-year quarter. The net income increased by 116% to $122.7 million compared to $56.8 million for the same quarter of fiscal 2019.

The stock price was trading at $134.07 per share at close on May 28 for a market capitalization of $15.28 billion and a 52-week range of $87.97 to $149.28.

Take-Two Interactive Software Inc does not pay dividends.

As of May, six analysts on Wall Street recommend a strong buy rating for the stock, ten recommend a buy rating, three recommend a hold rating and one issued an underperforming rating. The average target price is $132.21 per share.

GuruFocus assigned a very good rating of 7 out of 10 for the company’s financial strength and a positive rating of 6 out of 10 for its profitability. 

ChipMOS TECHNOLOGIES Inc

The second company to consider is ChipMOS TECHNOLOGIES Inc (NASDAQ:IMOS), a Taiwan-based manufacturer and seller of semiconductors and related testing services.

The company saw its quarterly revenue grow by 25.2% to $184.7 million in the first quarter of 2020, up from $147.5 million in the prior-year quarter. The net income increased by nearly 269% to $23.6 million, up from $6.4 million for the comparable quarter of 2019.

The stock price was trading at $20.27 per American Depositary Receipt at close on May 28 for a market capitalization of $737.02 million and a 52-week range of $13.92 to $24.83.

On Sept. 9, 2019, ChipMOS TECHNOLOGIES Inc paid an annual cash dividend of 76.4 cents per common share.

Wall Street sell-side analysts recommend an overweight rating for this stock and have set an average target price of $24.28 per ADR.

GuruFocus assigned a positive score of 6 out of 10 to both the company’s financial strength and its profitability.

Datadog Inc

The third company to consider is Datadog Inc (NASDAQ:DDOG), a New York-based provider of a monitoring and analytics platform to U.S. and international developers, information technology specialists and companies.

The company saw its quarterly revenue grow by 87.4% year-over-year to $131.25 million in the first quarter of 2020, up from $70.05 million. Also, the company recorded net income of $6.5 million in the first quarter of 2020, up from a net loss of $9.5 million in the same quarter of 2019.

The stock price was trading at $67.13 per share at close on May 28 for a market capitalization of $20.10 billion and a 52-week range of $27.55 to $75.

Datadog Inc does not pay dividends.

Wall Street sell-side analysts recommend an overweight rating for this stock and have established an average target price of $62.67 per share.

GuruFocus assigned a very low score of 1 out of 10 to the profitability of the company and a very good financial strength score of 7 out of 10.

Disclosure: I have no positions in any securities mentioned in this article.

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About the author:

Alberto Abaterusso
I am a contributor at GuruFocus. I primarily write about gold, silver and precious metals mining industries. My articles have also been widely linked by popular sites, including MarketWatch, Financial Times, 24hGold, Investopedia, Financial.org, CNBS, MSN Money, Zachs, Reuters and others. I hold a Master's Degree in Business Administration from Università degli Studi di Bari (Italy), Aldo Moro. I am based in The Netherlands.

You can follow me on Twitter at https://twitter.com/AAbaterusso

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