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Alberto Abaterusso
Alberto Abaterusso
Articles (2325) 

3 Tech Growth Stocks to Consider

These companies have achieved significant improvement in their quarterly top and bottom lines

September 17, 2020 | About:

Investors who focus on tech growth stocks may want to consider the following stocks, as they have grown their quarterly revenue and net income largely on a year-over-year basis.

Rekor Systems Inc

The first stock which tech growth investors may want to consider is Rekor Systems Inc (NASDAQ:REKR), a Columbia, Maryland-based provider of vehicle identification services and artificial intelligence-based management systems solutions in North America and internationally.

Rekor Systems Inc saw its quarterly revenue grow by 89% year over year to $2.68 million as of the second quarter of 2020, up from $1.42 million in the same quarter in 2019.

Rekor Systems Inc posted a net loss of $618,000 for the second quarter, which marked a large improvement from the net loss of nearly $5 million recorded in the same quarter in 2019.

The stock price was trading at $6.80 per share at close on Sept. 16 after a 161.5% increase over the past year, for a market capitalization of $189.61 million and a 52-week range of $1.85 to $7.14.

Rekor Systems Inc does not pay dividends.

GuruFocus assigned a low score of 1 out of 10 to the financial strength rating of the company.

The stock has one buy recommendation rating with an average target price of $8 per share, on Wall Street.

Vanguard Group Inc leads the group of top fund holders, owning 2.23% of shares outstanding. It is followed by Geode Capital Management, LLC with 0.28% of shares outstanding and BlackRock Inc. with 0.16% of shares outstanding.

BigCommerce Holdings Inc

The second stock that tech growth investors may want to consider is BigCommerce Holdings Inc (NASDAQ:BIGC), an Austin, Texas-based operator of a software-as-a-service global platform which helps its customers in creating intriguing websites for e-commerce.

The company saw its quarterly revenue grow by 33.33% year over year to $36.32 million as of the second quarter of 2020, up from $27.24 million in the prior year quarter.

BigCommerce Holdings Inc posted a net loss of about $8.5 million for the second quarter, representing a 23% improvement from the net loss of $11 million recorded in the same quarter in 2019.

The stock price traded at $80.26 per share at close on Sept. 16 as a result of an 11% increase over the past year for a market capitalization of $5.43 billion and a 52-week range of $63.77 to $162.50.

BigCommerce Holdings Inc does not pay dividends.

GuruFocus assigned a low financial strength rating of 3 out of 10 to the company.

Wall Street recommends a hold rating with an average target price of $100 per share for the stock.

II-VI Inc

The third company that tech growth investors may want to consider is II-VI Inc (NASDAQ:IIVI), a Saxonburg, Pennsylvania-based global manufacturer and marketer of engineered materials, optoelectronic components and several other devices.

The company saw total revenues hit $746.3 million for the second quarter of 2020, marking a 105.8% year over year increase from $362.7 million recorded for the same quarter in 2019.

The net income for the second quarter also improved significantly on a year over year basis as it was $51.3 million this year, up 83.22% from $28 million in 2019.

The stock price was trading at $38.60 per share at close on Sept. 16 for a market capitalization of $4 billion and a 52-week range of $19 to $52.97. The share price has fallen by nearly 4% over the past year.

II-VI Inc does not pay dividends.

GuruFocus assigned a moderate rating of 4 out of 10 for the company's financial strength and a remarkably high rating of 8 out of 10 for the profitability.

Wall Street recommends an overweight rating with an average target price of $55.16 per share for the stock.

Among the top fund holders of the company, Wellington Management Group LLP is the leader with 11.18% of shares outstanding. It is followed by BlackRock Inc. with 9.78% of shares outstanding and Vanguard Group Inc with 8.25% of shares outstanding.

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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