High Growth Tech Stocks to Watch in November 2024

As global markets experience broad-based gains, with smaller-cap indexes outperforming and the S&P 600 for small-cap stocks showing notable strength, investors are keeping a close eye on economic indicators such as jobless claims and home sales that suggest continued economic growth. In this environment of optimism tempered by geopolitical uncertainties, high-growth tech stocks stand out as potential opportunities due to their innovation-driven potential to capitalize on trends like artificial intelligence and clean energy demand.

Top 10 High Growth Tech Companies

Name	Revenue Growth	Earnings Growth	Growth Rating
Material Group	20.45%	24.01%	★★★★★★
Seojin SystemLtd	32.56%	43.21%	★★★★★★
Yggdrazil Group	24.66%	85.53%	★★★★★★
eWeLLLtd	27.24%	28.74%	★★★★★★
Ascelia Pharma	76.15%	47.16%	★★★★★★
Mental Health TechnologiesLtd	24.68%	97.53%	★★★★★★
Pharma Mar	25.97%	56.89%	★★★★★★
Medley	25.57%	31.67%	★★★★★★
Elliptic Laboratories	65.73%	103.55%	★★★★★★
JNTC	29.48%	104.37%	★★★★★★

Click here to see the full list of 1289 stocks from our High Growth Tech and AI Stocks screener.

Here's a peek at a few of the choices from the screener.

Elm (SASE:7203)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Elm Company offers ready-made and tailored digital solutions within Saudi Arabia, with a market capitalization of SAR83.91 billion.

Operations: Elm generates revenue primarily from its Digital Business segment, contributing SAR5.04 billion, followed by Business Process Outsourcing at SAR1.78 billion and Professional Services at SAR143.22 million.

Elm's recent financial results show a robust uptick, with third-quarter sales jumping to SAR 1.87 billion, up from SAR 1.52 billion the previous year, and net income rising notably to SAR 498.24 million from SAR 334.25 million. This performance underscores a sustained profitability trajectory as earnings per share also saw an increase from SAR 4.3 to SAR 6.41 over the same period last year. The company's commitment to innovation is evident in its R&D spending trends which are aligned with its revenue growth forecasts of 15.1% annually, outpacing the broader SA market's near-stagnant growth rate of -0.2%. Moreover, Elm's earnings are projected to grow by an impressive 18.7% annually, suggesting not only a strong market position but also potential for continued expansion in its tech-driven offerings.

• Click to explore a detailed breakdown of our findings in Elm's health report.

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

China National Software & Service (SHSE:600536)

Simply Wall St Growth Rating: ★★★★★☆

Overview: China National Software & Service Company Limited operates as a software company in China with a market capitalization of CN¥45.32 billion.

Operations: The company generates revenue primarily through its Software Service Business, which accounted for CN¥5.49 billion.

China National Software & Service has demonstrated a notable turnaround, transitioning from a net loss of CNY 422.18 million to CNY 337.55 million year-over-year, reflecting improved operational efficiency despite a drop in sales from CNY 4.16 billion to CNY 2.92 billion in the same period. The company's commitment to innovation is underscored by its R&D investments, which are crucial as it predicts revenue growth at an annual rate of 21%, significantly outpacing the broader Chinese market's growth forecast of 13.8%. Furthermore, earnings are expected to surge by approximately 81.8% annually over the next few years, positioning China National Software & Service for potential profitability and making it a noteworthy entity in the tech landscape amidst challenging economic conditions.

• Delve into the full analysis health report here for a deeper understanding of China National Software & Service.

• Explore historical data to track China National Software & Service's performance over time in our Past section.

Shenzhen H&T Intelligent ControlLtd (SZSE:002402)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Shenzhen H&T Intelligent Control Co. Ltd, with a market cap of CN¥17.31 billion, engages in the research, development, manufacturing, sales, and marketing of intelligent controller products both in China and internationally.

Operations: H&T Intelligent Control focuses on the development and production of intelligent controller products, serving both domestic and international markets. The company's revenue is primarily generated from sales of these products, reflecting its core business operations in the technology sector.

Shenzhen H&T Intelligent Control Co.Ltd has demonstrated robust growth, with revenue surging by 20.5% annually, outpacing the broader Chinese market's expansion of 13.8%. This growth is underpinned by a significant commitment to innovation, as evidenced by R&D expenses which have been strategically increased to support new product development and market expansion strategies. Notably, the company's earnings are projected to grow at an impressive rate of 38.7% per year, reflecting its potential to leverage technological advancements for enhanced profitability. Additionally, recent actions such as repurchasing shares underline a confident outlook from management regarding future prospects and financial health.

• Dive into the specifics of Shenzhen H&T Intelligent ControlLtd here with our thorough health report.

• Gain insights into Shenzhen H&T Intelligent ControlLtd's past trends and performance with our Past report.

Next Steps

• Explore the 1289 names from our High Growth Tech and AI Stocks screener here.
• Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports.
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Ready To Venture Into Other Investment Styles?

• 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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