Stock Analysis

High Growth Tech Stocks To Watch In September 2024

NasdaqGS:ADSK
Source: Shutterstock

The market has climbed by 3.0% over the past week, with every sector up, and is up 25% over the last 12 months, with earnings forecast to grow by 15% annually. In this thriving environment, identifying high growth tech stocks can be key to capitalizing on potential gains in September 2024.

Top 10 High Growth Tech Companies In The United States

NameRevenue GrowthEarnings GrowthGrowth Rating
TG Therapeutics28.39%43.54%★★★★★★
Super Micro Computer20.66%27.13%★★★★★★
Sarepta Therapeutics23.58%44.12%★★★★★★
Invivyd42.91%70.39%★★★★★★
Ardelyx27.44%65.92%★★★★★★
G1 Therapeutics27.57%57.75%★★★★★★
Amicus Therapeutics20.32%62.37%★★★★★★
Travere Therapeutics26.68%68.80%★★★★★★
Seagen22.57%71.80%★★★★★★
ImmunoGen26.00%45.85%★★★★★★

Click here to see the full list of 250 stocks from our US High Growth Tech and AI Stocks screener.

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

Autodesk (NasdaqGS:ADSK)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Autodesk, Inc. provides 3D design, engineering, and entertainment technology solutions worldwide and has a market cap of $57.57 billion.

Operations: Autodesk generates revenue primarily from its CAD/CAM software segment, which accounted for $5.81 billion. The company focuses on providing advanced technology solutions in design and engineering fields.

Autodesk's strategic partnership with Makersite enhances its sustainability and compliance capabilities, crucial for product design stages where 80% of environmental impact is determined. The company reported Q2 revenue of $1.51 billion, up from $1.35 billion a year ago, with net income rising to $282 million from $222 million. Autodesk has also repurchased 471,000 shares for $115.22 million between May and July 2024, reflecting confidence in its growth trajectory amidst a forecasted annual earnings increase of 16.7%.

NasdaqGS:ADSK Revenue and Expenses Breakdown as at Sep 2024
NasdaqGS:ADSK Revenue and Expenses Breakdown as at Sep 2024

Amgen (NasdaqGS:AMGN)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Amgen Inc. is a global biotechnology company that focuses on discovering, developing, manufacturing, and delivering human therapeutics, with a market cap of approximately $180.14 billion.

Operations: Amgen generates revenue primarily through its human therapeutics segment, which accounted for $30.93 billion. The company's focus on biotechnology involves significant investment in R&D and manufacturing to support its product pipeline and market delivery.

Amgen's R&D expenditure, at $4.20 billion for the past year, underscores its commitment to innovation, particularly in oncology and molecularly targeted therapies. The company's revenue growth is forecasted at a modest 3% annually, while earnings are expected to surge by 23.8% per year. Despite a significant one-off gain of $1 billion impacting recent financials, Amgen's focus on high-potential segments like KRAS G12C-mutated NSCLC treatments positions it well for future advancements in biotech solutions.

NasdaqGS:AMGN Revenue and Expenses Breakdown as at Sep 2024
NasdaqGS:AMGN Revenue and Expenses Breakdown as at Sep 2024

Wix.com (NasdaqGS:WIX)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Wix.com Ltd., with a market cap of $8.76 billion, operates as a cloud-based web development platform for registered users and creators worldwide.

Operations: Wix.com Ltd. generates revenue primarily from its internet software and services segment, amounting to $1.65 billion. The company offers a cloud-based platform enabling web development for users globally.

Wix.com, with an annual revenue growth forecast of 11.4%, is outpacing the US market's 8.7% growth rate, while its earnings are expected to surge by 32% annually. The company has recently become profitable and reported a net income of $63.52 million for the first half of 2024, compared to $23.21 million in the previous year. Notably, Wix spent $200 million on share repurchases in July 2024 and continues to innovate with AI-powered tools enhancing user content creation efficiency and customization capabilities on their platform.

NasdaqGS:WIX Revenue and Expenses Breakdown as at Sep 2024
NasdaqGS:WIX Revenue and Expenses Breakdown as at Sep 2024

Next Steps

  • Gain an insight into the universe of 250 US High Growth Tech and AI Stocks by clicking here.
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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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