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 (REKR, Financial), 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 (BIGC, Financial), 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 (IIVI, Financial), 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.
Read more here:
- A Trio of Stocks Growing Revenue per Share
- A Trio of High Yield Stock Picks for the Dividend Income Investor
- 3 Low Price-Book Ratio Stocks for the Value Investor
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