While the innovation space seemingly lacks no shortage of interest, not every enterprise benefits from the spotlight. This brings us to tech stocks ready to rebound; compelling plays that are not getting the attention they deserve.
The Quiet Revolutionaries: Shift4 Payments (FOUR)
Falling under the infrastructure software category of tech stocks ready to rebound, Shift4 Payments (NYSE:FOUR) provides software and payment processing solutions in the U.S. and internationally. The company offers an omni-channel card acceptance and processing solution platform.
Wall Street’s assessment of Shift4 Payments is optimistic, with experts rating shares a consensus strong buy. The high-side estimate calls for a price tag of $105 per share, indicating significant potential for growth.
A standout in fiscal 2023, Shift4 delivered excellent performance, with average earnings beating estimates by 25.95%. Analysts predict further growth in fiscal 2024 with EPS expected to rise to $3.68 and revenues to reach $3.75 billion.
The Data Dream: LiveRamp (RAMP)
LiveRamp (NYSE:RAMP) operates a data collaboration platform, unifying customer and prospect data to create a single view while protecting privacy. Wall Street’s unanimous strong buy rating for LiveRamp reflects confidence in the company’s potential. The average price target is $48.75.
LiveRamp surpassed all its quarterly bottom-line targets in fiscal 2023 by an impressive margin. For the upcoming fiscal year, experts project an increase in EPS to $1.47 and sales to $648.28 million, highlighting its position as a tech stock ready to rebound.
The Sensor Sorcerer: Allegro MicroSystems (ALGM)
Allegro MicroSystems (NASDAQ:ALGM) specializes in designing, developing, and manufacturing sensor integrated circuits for motion control and energy-efficient systems. Despite being a middle-capitalization company, Allegro is positioned as a strong contender among tech stocks ready to rebound with a consensus strong buy rating.
Consistent profitability has been one of Allegro’s key strengths. Analysts foresee growth in fiscal 2024, with projected EPS of $1.32 and sales reaching $1.04 billion, a 7.2% increase year-over-year.
The Innovative Ally: Intapp (INTA)
Intapp (NASDAQ:INTA) offers industry-specific cloud-based software solutions for professional and financial services. Wall Street’s unanimous strong buy rating reflects confidence in the company. The average price target sits at $50.44, with a high-side estimate of $57.
Despite consistent profitability, Intapp continues to surprise skeptics. Expectations for fiscal 2024 include an EPS of 34 cents and revenue of $425.04 million, signaling strong growth potential for investors.
The Harmonious Innovator: Sonos (SONO)
Sonos (NASDAQ:SONO) specializes in consumer electronics, designing and developing innovative audio products. Embracing the consumer electronics realm, Sonos aims to elevate the auditory experience for its customers.
With exciting prospects on the horizon, Sonos represents an underrated gem among tech stocks, poised for growth and future success in the market.