Top 3 High Growth Tech Stocks in Sweden to Watch

As the European Central Bank's recent interest rate cuts have buoyed major stock indexes across Europe, the Swedish market is also experiencing a wave of optimism, particularly within its tech sector. In this environment, identifying high-growth tech stocks involves looking for companies that can capitalize on technological advancements and market trends to drive innovation and expansion.

Top 10 High Growth Tech Companies In Sweden

Name	Revenue Growth	Earnings Growth	Growth Rating
Truecaller	20.45%	21.76%	★★★★★★
Xbrane Biopharma	53.90%	118.02%	★★★★★★
Hemnet Group	20.11%	25.40%	★★★★★★
Scandion Oncology	40.71%	75.34%	★★★★★★
BioArctic	42.38%	98.40%	★★★★★★
Biovica International	81.67%	78.55%	★★★★★★
Yubico	20.52%	42.18%	★★★★★★
Bonesupport Holding	33.76%	31.20%	★★★★★★
KebNi	34.75%	86.11%	★★★★★★
Skolon	32.63%	122.14%	★★★★★★

Click here to see the full list of 81 stocks from our Swedish High Growth Tech and AI Stocks screener.

Let's explore several standout options from the results in the screener.

Dustin Group (OM:DUST)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Dustin Group AB (publ) is a company that offers online IT products and services across the Nordic and Benelux regions, with a market capitalization of approximately SEK3.62 billion.

Operations: Dustin Group generates revenue primarily through its Large Corporate and Public (LCP) segment, accounting for SEK15.44 billion, and the Small and Medium-sized Business (SMB) segment, contributing SEK6.04 billion.

Dustin Group's recent strategic shifts and executive changes signal a dynamic restructuring phase, amidst challenging earnings reports. Despite a 4.1% projected annual revenue growth, which outpaces the broader Swedish market's 1%, the company faces hurdles with a significant net loss of SEK 83.2 million in Q4 2024, contrasting sharply with the prior year's modest profit. The firm is navigating through these turbulent waters by focusing on innovative tech solutions and operational efficiency, underscored by their R&D commitment which remains crucial for future competitiveness in high-tech sectors. This approach is reflected in their aggressive forecast for earnings growth at an impressive rate of 54.2% annually, aiming to leverage emerging technological trends despite current financial volatilities and market complexities.

• Take a closer look at Dustin Group's potential here in our health report.

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

Telefonaktiebolaget LM Ericsson (OM:ERIC B)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Telefonaktiebolaget LM Ericsson (publ) offers mobile connectivity solutions for telecom operators and enterprise customers across multiple regions including North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India with a market capitalization of approximately SEK297.38 billion.

Operations: Ericsson generates revenue primarily from its Networks segment, which accounted for SEK156.41 billion, followed by Cloud Software and Services at SEK62.74 billion, and Enterprise at SEK25.47 billion. The company focuses on providing mobile connectivity solutions to telecom operators and enterprise customers across various regions globally.

Ericsson, amidst a transformative period, reported a significant turnaround in its Q3 2024 earnings with net income reaching SEK 3.8 billion compared to a net loss of SEK 30.7 billion the previous year. This recovery is underscored by strategic alliances, such as the collaboration under the U.S. CHIPS and Science Act which aims to enhance microelectronics and future 5G/6G technologies. With R&D expenses robustly maintained to fuel innovation—evidenced by an expected surge in earnings growth by 97.5% annually—the company is poised for impactful advancements in telecommunications infrastructure globally, particularly through enhanced partnerships like that with Viettel for widespread 5G deployment across Vietnam.

• Dive into the specifics of Telefonaktiebolaget LM Ericsson here with our thorough health report.

• Assess Telefonaktiebolaget LM Ericsson's past performance with our detailed historical performance reports.

Karnov Group (OM:KAR)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Karnov Group AB (publ) offers information products and services for legal, tax and accounting, environmental, and health and safety professionals across Denmark, Norway, France, Sweden, Portugal, and Spain with a market cap of SEK8.27 billion.

Operations: The company generates revenue through its information products and services, with Region North contributing SEK1.12 billion and Region South SEK1.39 billion.

Karnov Group, reflecting a resilient uptick in its financial trajectory, has shown a promising turnaround with its Q2 2024 net income at SEK 0.7 million from a significant loss the previous year. This improvement is part of a broader trend where Karnov's annual revenue growth is projected at 4.7%, outpacing the Swedish market's average of 1%. Furthermore, the company's aggressive focus on R&D investments aligns with its strategic priorities to innovate within the Interactive Media and Services sector, supporting an anticipated earnings surge of 92.2% annually. These figures underscore Karnov’s potential to leverage technological advancements and market position despite facing challenges in covering interest payments through earnings alone.

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

• Examine Karnov Group's past performance report to understand how it has performed in the past.

Where To Now?

• Dive into all 81 of the Swedish High Growth Tech and AI Stocks we have identified here.
• Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks.
• Streamline your investment strategy with Simply Wall St's app for free and benefit from extensive research on stocks across all corners of the world.

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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