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

Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Zen Score	Valuation Score	Financials Score	Forecast Score	Performance Score	Dividends Score
RMBS	RAMBUS INC	72	86	100	33	70	–
LOGI	LOGITECH INTERNATIONAL SA	67	86	86	44	40	80
EPAM	EPAM SYSTEMS INC	66	57	100	56	50	–
YMM	FULL TRUCK ALLIANCE CO LTD	64	57	86	33	80	–
AGYS	AGILYSYS INC	64	57	86	33	80	–
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Tech Industries

Industry	Stocks	1d %	1w %	1m %	1y %	P/E ratio	P/B Ratio	ROE	ROA	ROCE	Upside/Downside	Consensus
Communication Equipment	65	+0.94%	+2.38%	+4.97%	-3.62%	8.89x	2.76x	+42.43%	+8.81%	+16.09%	+15.76%	Buy
Computer Hardware	38	+0.99%	+4.57%	-3.72%	+144.22%	34.85x	13.47x	-25.70%	+10.59%	+17.93%	+17.31%	Buy
Consumer Electronics	18	-1.26%	-2.40%	+2.40%	-5.14%	27.80x	22.19x	+143.10%	+28.08%	+54.28%	+22.95%	Buy
Electronic Components	44	+0.26%	+4.42%	+6.64%	+20.40%	20.88x	3.76x	+20.88%	+9.60%	+15.07%	+6.49%	Buy
Electronics & Computer Distribution	10	+0.45%	+3.72%	-1.09%	+36.02%	14.67x	1.41x	+11.28%	+3.61%	+11.73%	-0.27%	Hold
Information Technology Services	66	+0.35%	+1.11%	-2.11%	+18.35%	27.25x	4.52x	+24.38%	+8.06%	+16.35%	+16.92%	Buy
Scientific & Technical Instruments	33	-0.58%	+1.46%	+4.10%	+7.02%	13.06x	3.25x	+8.78%	+6.48%	+9.41%	+6.97%	Buy
Semiconductor Equipment & Materials	29	+1.18%	+2.77%	+0.30%	+53.29%	37.65x	11.84x	+50.98%	+18.24%	+30.78%	+9.03%	Buy
Semiconductors	69	+0.54%	+2.47%	+1.80%	+44.45%	64.08x	8.15x	+52.21%	+30.11%	+33.88%	+13.45%	Strong Buy
Software - Application	252	-0.35%	+1.24%	-3.57%	+26.47%	34.74x	6.45x	+5.51%	+4.43%	+7.63%	+19.58%	Buy
Software - Infrastructure	138	-0.18%	+0.61%	-3.03%	+15.17%	43.43x	11.42x	+26.59%	+15.24%	+24.60%	+21.16%	Buy
Solar	23	-3.17%	-5.79%	-8.40%	-48.94%	23.90x	2.51x	+11.55%	+7.43%	+11.54%	+36.55%	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 43 points higher than the tech sector average of 29. It passed 23 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 15.1% over the past year, underperforming other tech stocks by -10 percentage points.

Rambus has an average 1 year price target of $85.00, an upside of 49.91% from Rambus's current stock price of $56.70.

Rambus stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 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. Logitech International Sa (NASDAQ:LOGI)

Logitech International Sa (NASDAQ:LOGI) is the second best tech stock with a Zen Score of 67, which is 38 points higher than the tech sector average of 29. It passed 24 out of 38 due diligence checks and has strong fundamentals. Logitech International Sa has seen its stock return 32.64% over the past year, overperforming other tech stocks by 7 percentage points.

Logitech International Sa has an average 1 year price target of $93.83, an upside of 10.7% from Logitech International Sa's current stock price of $84.76.

Logitech International Sa stock has a consensus Hold recommendation according to Wall Street analysts. Of the 6 analysts covering Logitech International Sa, 33.33% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a Hold, while 0% have issued a Sell rating, and 16.67% have issued a Strong Sell.

3. Epam Systems (NYSE:EPAM)

Epam Systems (NYSE:EPAM) is the third best tech stock with a Zen Score of 66, which is 37 points higher than the tech sector average of 29. It passed 21 out of 33 due diligence checks and has strong fundamentals. Epam Systems has seen its stock lose -21.02% over the past year, underperforming other tech stocks by -47 percentage points.

Epam Systems has an average 1 year price target of $291.38, an upside of 58.87% from Epam Systems's current stock price of $183.40.

Epam Systems stock has a consensus Buy recommendation according to Wall Street analysts. Of the 16 analysts covering Epam Systems, 50% have issued a Strong Buy rating, 12.5% have issued a Buy, 37.5% 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. 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 4.57%. 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.

2. 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 4.57%. 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.

3. Clearone (NASDAQ:CLRO)

Clearone (NASDAQ:CLRO) has an annual dividend yield of 165.2%, which is 161 percentage points higher than the tech sector average of 4.57%. Clearone's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Clearone's dividend has shown consistent growth over the last 10 years.

Clearone's dividend payout ratio of -5,000% indicates that its high dividend yield might not be sustainable for the long-term.

Why are tech stocks up?

Tech stocks were up 0.1% in the last day, and up 1.69% over the last week. Inseego was the among the top gainers in the technology sector, gaining 30.99% yesterday.

Inseego shares are trading higher after the company reported better-than-expected Q1 financial results and issued Q2 revenue guidance above estimates.

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 -21.93% in the past year. It has underperformed other stocks in the tech sector by -47 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 -9.86% in the past year. It has underperformed other stocks in the tech sector by -35 percentage points.

3. International Money Express (NASDAQ:IMXI)

International Money Express (NASDAQ:IMXI) is the third most undervalued tech stock based on WallStreetZen's Valuation Score. International Money Express 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.

International Money Express's stock has dropped -14.95% in the past year. It has underperformed other stocks in the tech sector by -40 percentage points.

Are tech stocks a good buy now?

41.07% of tech stocks rated by analysts are a strong buy right now. On average, analysts expect tech stocks to rise by 16.34% 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 43.12x.

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.