High Growth Tech Stocks to Watch In October 2024

In the midst of rising geopolitical tensions and fluctuating economic indicators, global markets have shown resilience, with large-cap stocks in the U.S. achieving gains despite concerns over Middle East conflicts and supply chain disruptions. As investors navigate these complexities, identifying high-growth tech stocks becomes crucial; such stocks typically exhibit strong innovation potential, robust revenue growth prospects, and adaptability to changing market conditions.

Top 10 High Growth Tech Companies

Name	Revenue Growth	Earnings Growth	Growth Rating
Clinuvel Pharmaceuticals	22.32%	27.42%	★★★★★★
Sarepta Therapeutics	23.67%	44.28%	★★★★★★
TG Therapeutics	28.39%	43.54%	★★★★★★
Medley	24.98%	30.36%	★★★★★★
Scandion Oncology	40.71%	75.34%	★★★★★★
KebNi	34.75%	86.11%	★★★★★★
Mental Health TechnologiesLtd	27.88%	79.61%	★★★★★★
Adveritas	57.98%	144.21%	★★★★★★
UTI	114.97%	134.60%	★★★★★★
Travere Therapeutics	27.16%	69.88%	★★★★★★

Click here to see the full list of 1275 stocks from our High Growth Tech and AI Stocks screener.

Let's uncover some gems from our specialized screener.

FPT (HOSE:FPT)

Simply Wall St Growth Rating: ★★★★★☆

Overview: FPT Corporation offers IT and telecommunication products and services both in Vietnam and globally, with a market cap of ₫197.74 trillion.

Operations: The company's revenue streams are primarily derived from Global IT Services (₫27.63 billion) and Telecommunication services (₫15.73 billion), with additional contributions from Software Solutions, System Integration, and Informatics Services (₫7.70 billion). The business focuses on providing a diverse range of IT and telecommunication solutions both domestically and internationally.

FPT's recent performance and strategic moves underscore its growing influence in the tech sector, notably through a significant partnership with Ascending Strategies aimed at boosting digital transformation in Australasia. This collaboration leverages FPT's strengths in AI and cloud technologies, enhancing its service offerings across high-demand industries such as real estate and energy. Financially, FPT has shown robust growth with a 22.7% increase in earnings over the past year, surpassing the IT industry's average of 9.9%. Moreover, revenue is expected to climb by 18.7% annually, coupled with an anticipated earnings surge of 24.9% per year—figures that reflect both the company’s dynamic market adaptation and its aggressive investment in R&D to fuel innovation and expansion.

• Unlock comprehensive insights into our analysis of FPT stock in this health report.

• Evaluate FPT's historical performance by accessing our past performance report.

Saudi Research and Media Group (SASE:4210)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Saudi Research and Media Group is a global publishing and media company involved in trading, advertising, promotions, distribution, printing, and public relations across Europe, North America, Africa, Asia, the Middle East, and North Africa with a market cap of SAR23.65 billion.

Operations: The group generates revenue primarily from publishing, visual, and digital content (SAR2.27 billion), followed by public relations and advertisements (SAR1.10 billion), and printing and packaging (SAR737.69 million). The focus on diverse media services enables it to operate across multiple regions worldwide.

Despite a challenging fiscal environment, Saudi Research and Media Group (SRMG) has demonstrated resilience with its strategic focus on diversifying media offerings and enhancing digital platforms. Recent financials show a dip in sales to SAR 850.53 million from SAR 974.85 million year-over-year for Q2, reflecting broader industry headwinds. However, the company's commitment to innovation is evident in its R&D initiatives aimed at evolving into a more digitally-centric enterprise. With earnings forecasted to grow by 26.8% annually, SRMG is actively adapting to market demands while maintaining a competitive edge through targeted investments in technology and content quality, positioning it favorably for future revenue growth projected at 16.4% per year—outpacing the SA market's growth rate of 1.2%.

• Click here and access our complete health analysis report to understand the dynamics of Saudi Research and Media Group.

• Review our historical performance report to gain insights into Saudi Research and Media Group's's past performance.

Ruijie Networks (SZSE:301165)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Ruijie Networks Co., Ltd. is involved in the research, development, production, and sale of networking equipment such as switches, routers, wireless products, and security solutions both in China and internationally with a market cap of CN¥24.73 billion.

Operations: Ruijie Networks generates revenue primarily through the sale of networking equipment, including switches, routers, and wireless products. The company focuses on both domestic and international markets for its security solutions.

Ruijie Networks has shown a robust trajectory with revenue growth at 16.7% annually, outpacing the broader Chinese market's 13.4%. This growth is supported by substantial R&D investment, aligning with its strategic emphasis on innovation to stay ahead in competitive tech landscapes. Despite a slight earnings dip last year, projections are optimistic with an anticipated profit surge of 25.8% per year, suggesting strong future potential as the firm leverages advanced technologies and expands its market footprint.

• Navigate through the intricacies of Ruijie Networks with our comprehensive health report here.

• Examine Ruijie Networks' past performance report to understand how it has performed in the past.

Seize The Opportunity

• Embark on your investment journey to our 1275 High Growth Tech and AI Stocks selection here.
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Contemplating Other Strategies?

• 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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