High Growth Tech Stocks To Watch In Australia September 2024

Over the last 7 days, the Australian market has remained flat, but it is up 15% over the past year with earnings expected to grow by 12% per annum over the next few years. In this promising environment, identifying high growth tech stocks that align with these positive trends can be crucial for investors looking to capitalize on future opportunities.

Top 10 High Growth Tech Companies In Australia

Name	Revenue Growth	Earnings Growth	Growth Rating
Clinuvel Pharmaceuticals	22.32%	27.42%	★★★★★★
Adherium	86.80%	73.66%	★★★★★★
ImExHS	20.47%	111.20%	★★★★★★
DUG Technology	10.79%	31.83%	★★★★★☆
AVA Risk Group	32.56%	118.83%	★★★★★★
Careteq	37.17%	126.21%	★★★★★☆
Pointerra	56.62%	126.45%	★★★★★★
Wrkr	36.31%	100.29%	★★★★★★
Adveritas	57.98%	144.21%	★★★★★★
SiteMinder	19.39%	60.31%	★★★★★☆

Click here to see the full list of 64 stocks from our ASX High Growth Tech and AI Stocks screener.

Here we highlight a subset of our preferred stocks from the screener.

Life360 (ASX:360)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Life360, Inc. operates a technology platform to locate people, pets, and things across various regions including North America, Europe, the Middle East, Africa, and internationally with a market cap of A$4.29 billion.

Operations: Life360, Inc. generates revenue primarily from its Software & Programming segment, which amounted to $328.68 million. The company's operations span multiple regions including North America and Europe.

Life360's recent unveiling of an upgraded Tile product line underscores its innovative edge in family safety technology, enhancing user experience with features like extended Bluetooth range and a louder ring. This launch not only boosts its market presence but also complements its financial trajectory with a revenue forecast growth of 15.7% annually, outpacing the Australian market average of 5.4%. Despite current unprofitability, Life360 is poised for a turnaround with anticipated earnings growth at an impressive rate of 68.5% per year, signaling robust future prospects as it continues to expand and refine its offerings in the competitive tech landscape.

• Dive into the specifics of Life360 here with our thorough health report.

• Gain insights into Life360's historical performance by reviewing our past performance report.

Data#3 (ASX:DTL)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Data#3 Limited provides IT solutions and services across Australia, Fiji, and the Pacific Islands with a market cap of A$1.18 billion.

Operations: Data#3 Limited generates revenue primarily from its Value-Added IT Reseller and IT Solutions Provider segment, which reported A$805.75 million. The company operates within the IT sector across Australia, Fiji, and the Pacific Islands.

Data#3, amid a dynamic tech landscape in Australia, is demonstrating robust financial health with a 17% earnings growth surpassing the IT industry's average of 8.6%. With revenue projected to surge by 33.3% annually—significantly outpacing the broader Australian market growth rate of 5.4%—the company is well-positioned for sustained expansion. However, its earnings growth forecast at 11.1% yearly trails behind the national average of 12.3%, suggesting potential challenges in scaling profitably relative to market expectations. This backdrop frames Data#3's recent strategic moves including a pivotal auditor change and board transitions, poised to enhance governance as it navigates forward momentum and capitalizes on emerging tech opportunities.

• Delve into the full analysis health report here for a deeper understanding of Data#3.

• Understand Data#3's track record by examining our Past report.

SEEK (ASX:SEK)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: SEEK Limited, along with its subsidiaries, provides online employment marketplace services across Australia, South East Asia, New Zealand, the United Kingdom, Europe, and internationally and has a market cap of approximately A$8.64 billion.

Operations: SEEK Limited generates revenue primarily from its Employment Marketplaces in Australia and New Zealand (A$840.10 million) and Asia (A$244 million). The company operates across various international markets, focusing on providing online employment services.

Amid a challenging year, SEEK Limited reported a significant shift in its financial trajectory with full-year sales dropping to AUD 1.08 billion from AUD 1.16 billion previously, alongside a swing to a net loss of AUD 100.9 million from last year's net income of AUD 1.05 billion. Despite these setbacks, the company's commitment to innovation is evident in its R&D spending, crucial for staying competitive in the high-stakes tech sector. Notably, SEEK's revenue is expected to grow by 7.3% annually, outpacing the Australian market projection of 5.4%, and earnings are anticipated to surge by an impressive 40.47% per year as it navigates recovery paths and capitalizes on emerging digital employment platforms.

• Click here to discover the nuances of SEEK with our detailed analytical health report.

• Assess SEEK's past performance with our detailed historical performance reports.

Next Steps

• Explore the 64 names from our ASX High Growth Tech and AI Stocks screener here.
• Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools.
• Maximize your investment potential with Simply Wall St, the comprehensive app that offers global market insights for free.

Ready For A Different Approach?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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