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Alberto Abaterusso
Alberto Abaterusso
Articles (2337) 

A Trio of Tech Stocks for the Growth Investor

Their most recent quarterly top and bottom lines improved drammatically

August 10, 2020 | About:

The following tech companies have improved their quarterly revenue and net income dramatically on a year over year basis, so growth investors may be interested in their U.S. listed stocks.

Marathon Patent Group Inc

The first company which tech growth investors may be interested in is Marathon Patent Group Inc (NASDAQ:MARA), a Las Vegas-based owner and operator of digital machines for the mining of cryptocurrencies.

The digital assets tech company saw its quarterly revenue grow by 157% year-over-year to $592,487 as of the first quarter of 2020, up from $230,694 in the comparable quarter of 2019.

Marathon Patent Group Inc recorded a net loss of 12 cents per share for the first quarter of 2020, up 25% from a net loss of 16 cents per share recorded in the prior year quarter.

The stock price was trading at $4.38 per share at close on Aug. 7 for a market capitalization of $128.98 million and a 52-week range of $0.35 to $5.25.

Marathon Patent Group Inc does not pay dividends.

One analyst on Wall Street recommends this stock for a buy and forecasts that the share price will hit a $64 target.

GuruFocus assigned a rating of 3 out of 10 for the company's financial strength and a rating of 1 out of 10 for its profitability.

Amid the top fund holders of the company, VANGUARD GROUP INC is the leader with 0.68% of shares outstanding (or 57,647 shares). It is followed by Jim Simons with 0.19% of shares outstanding (or 16,100 shares) and Fortress Investment Group LLC with 0.10% of shares outstanding (or 8,401 shares).

Riot Blockchain Inc

The second company that could be of interest to tech growth investors is Riot Blockchain Inc (NASDAQ:RIOT), a Castle Rock, Colorado-based creator and operator of blockchain technologies and solutions for the cryptocurrency ecosystem and for telecommunication companies.

The software application company saw its quarterly revenue increase by 67% year-over-year to nearly $2.4 million as of the first quarter of 2020, up from $1.43 million in the first quarter of 2019.

Riot Blockchain Inc posted a net loss of 15 cents per share for the first quarter of 2020, up 84% from a net loss of 94 cents per share posted in the prior year quarter.

The stock price was trading at $3.77 per share at close on Aug. 7 for a market capitalization of $130.22 million and a 52-week range of $0.51 to $6.14.

Riot Blockchain Inc does not pay dividends.

As of August, one analyst in Wall Street suggests to buy shares of Riot Blockchain Inc and estimates a target price of $3.50 per share.

GuruFocus assigned a rating of 8 out of 10 for the company's financial strength and a rating of 3 out of 10 for its profitability.

Among the top fund holders of the company, VANGUARD GROUP INC is the leader with 2.75% of shares outstanding (or 948,350 shares). It is followed by BlackRock Inc. with 1.95% of shares outstanding (or 604,738 shares) and Jim Simons with 0.97% of shares outstanding (or 333,901 shares).

Activision Blizzard Inc

The third company which tech growth investors may also be interested in is Activision Blizzard Inc (NASDAQ:ATVI), a Santa Monica, California-based electronic gaming and multimedia company.

The company recorded a 38.4% year-over-year increase in its total revenue to $1.93 billion as of the second quarter of 2020, up from nearly $1.4 billion as of the comparable quarter of 2019.

The second quarter EPS of 43 cents for the three months period ended on June 30, 2019 improved to EPS of 75 cents for the three months period ended on June 30, 2020.

The stock price was trading at $82.47 per share at close on Aug. 7 for a market capitalization of $63.66 billion and a 52-week range of $41.84 to $87.73.

Activision Blizzard Inc pays a dividend of 41 cents per share annually, leading to a forward dividend yield of 0.5% as of Aug. 7.

As of August, the stock holds a buy rating on Wall Street with an average target price of $93.88 per share.

GuruFocus assigned a rating of 7 out of 10 for the company's financial strength and a rating of 9 out of 10 for its profitability.

VANGUARD GROUP INC leads the squad of top fund holders as the U.S. large investment company owns 7.84% of shares outstanding of Activision Blizzard Inc. Capital International Investors and FMR LLC follow with holdings of 7.70% and 7.55%, respectively.

Disclosure: I have no positions in any securities mentioned.

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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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