High Growth Tech Stocks In Sweden To Watch This August 2024

As global markets react to anticipated interest rate cuts and economic indicators show mixed signals, Sweden's Riksbank has also reduced borrowing costs, signaling potential opportunities in the tech sector. In this environment, identifying high-growth tech stocks in Sweden requires a focus on companies with strong innovation capabilities and resilience to market fluctuations.

Top 10 High Growth Tech Companies In Sweden

Name	Revenue Growth	Earnings Growth	Growth Rating
Truecaller	20.32%	21.61%	★★★★★★
Fortnox	20.18%	22.60%	★★★★★★
Bonesupport Holding	33.76%	31.20%	★★★★★★
Xbrane Biopharma	55.06%	105.36%	★★★★★★
Skolon	31.76%	121.72%	★★★★★★
Scandion Oncology	40.75%	72.15%	★★★★★★
Hemnet Group	20.13%	25.41%	★★★★★★
BioArctic	39.48%	100.98%	★★★★★★
KebNi	34.75%	86.11%	★★★★★★
Yubico	20.43%	42.51%	★★★★★★

Click here to see the full list of 82 stocks from our Swedish High Growth Tech and AI Stocks screener.

We're going to check out a few of the best picks from our screener tool.

Telefonaktiebolaget LM Ericsson (OM:ERIC B)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides 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 cap of SEK253.59 billion.

Operations: Ericsson's revenue streams are primarily derived from Networks (SEK157.93 billion), Enterprise (SEK25.83 billion), and Cloud Software and Services (SEK63.35 billion). The company focuses on providing mobile connectivity solutions to telecom operators and enterprise customers across various global regions.

Ericsson's recent collaboration with NRTC, Southern Linc, and Anterix highlights its commitment to delivering advanced private network solutions for U.S. electric cooperatives. This partnership leverages Ericsson's expertise in cellular and microwave communications, aiming to enhance grid infrastructure resilience and security. Despite a 2.7% annual revenue growth forecast, Ericsson's earnings are expected to grow 101.6% per year over the next three years as it becomes profitable. The company also invested SEK 20.5 million in share repurchases this year, reflecting confidence in its strategic direction amidst industry challenges.

• Get an in-depth perspective on Telefonaktiebolaget LM Ericsson's performance by reading our health report here.

• Gain insights into Telefonaktiebolaget LM Ericsson's past trends and performance with our Past report.

Fortnox (OM:FNOX)

Simply Wall St Growth Rating: ★★★★★★

Overview: Fortnox AB (publ) offers financial and administrative applications tailored for small and medium-sized businesses, accounting firms, and organizations, with a market cap of SEK36.64 billion.

Operations: The company generates revenue primarily from Core Products (SEK734 million), Businesses (SEK378 million), Marketplaces (SEK160 million), Accounting Firms (SEK352 million), and Financial Services (SEK249 million). Gross profit margin stands at 84.67%.

Fortnox's impressive growth trajectory is evident in its recent earnings, with Q2 revenue reaching SEK 521 million, up from SEK 413 million a year ago. The company's R&D expenses have been instrumental in driving innovation, with a notable increase to SEK 20.5 million this year. Fortnox's earnings are forecasted to grow at an annual rate of 22.6%, significantly outpacing the Swedish market's average of 16%. This strong performance is further supported by their strategic move towards SaaS models, ensuring recurring revenue streams and robust client retention.

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

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

Swedish Orphan Biovitrum (OM:SOBI)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Swedish Orphan Biovitrum AB (publ) is an integrated biotechnology company that researches, develops, manufactures, and sells pharmaceuticals in haematology, immunology, and specialty care across Europe, North America, the Middle East, Asia, and Australia with a market cap of SEK109.47 billion.

Operations: Swedish Orphan Biovitrum AB (publ) generates revenue primarily from three segments: Hematology (SEK15.07 billion), Immunology (SEK7.49 billion), and Specialty Care (SEK1.15 billion). The company operates across Europe, North America, the Middle East, Asia, and Australia.

Swedish Orphan Biovitrum (Sobi) has demonstrated significant growth potential, with earnings forecasted to increase by 25.8% annually, outpacing the Swedish market's average of 16%. Recent advancements include positive Phase 3 results for pegcetacoplan in treating rare kidney diseases and a notable reduction in proteinuria by 68% (p < 0.0001). The company's commitment to innovation is evident with SEK 1.24 billion allocated to R&D last year, driving breakthroughs like ALTUVOCT® for haemophilia A.

• Dive into the specifics of Swedish Orphan Biovitrum here with our thorough health report.

• Learn about Swedish Orphan Biovitrum's historical performance.

Taking Advantage

• Discover the full array of 82 Swedish High Growth Tech and AI Stocks right here.
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Ready To Venture Into Other Investment Styles?

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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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