High Growth Tech Stocks To Watch In October 2024

Over the last 7 days, the United States market has remained flat but is up 30% over the past year with earnings forecast to grow by 15% annually. In this environment, identifying high growth tech stocks involves looking at companies that not only show strong potential for revenue expansion but also align well with current market conditions.

Top 10 High Growth Tech Companies In The United States

Name	Revenue Growth	Earnings Growth	Growth Rating
Super Micro Computer	20.86%	27.98%	★★★★★★
Sarepta Therapeutics	23.67%	43.81%	★★★★★★
TG Therapeutics	28.39%	43.54%	★★★★★★
Ardelyx	27.19%	66.44%	★★★★★★
Invivyd	42.91%	70.39%	★★★★★★
Amicus Therapeutics	20.32%	62.45%	★★★★★★
AsiaFIN Holdings	60.53%	81.55%	★★★★★★
Travere Therapeutics	26.51%	69.33%	★★★★★★
Seagen	22.57%	71.80%	★★★★★★
ImmunoGen	26.00%	45.85%	★★★★★★

Click here to see the full list of 252 stocks from our US High Growth Tech and AI Stocks screener.

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

AvePoint (NasdaqGS:AVPT)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: AvePoint, Inc. offers a cloud-native data management software platform across North America, Europe, the Middle East, Africa, and Asia Pacific with a market cap of $2.19 billion.

Operations: AvePoint generates revenue primarily through its software and programming segment, which accounted for $299.88 million. The company operates in multiple regions, providing solutions that facilitate data management across various cloud environments.

AvePoint, despite its current unprofitability, is on a trajectory to reverse this trend with an expected profit growth of 101.07% annually. This anticipated turnaround is underpinned by a robust R&D commitment, which has seen AvePoint allocate significant resources toward innovation—evident from their recent product launches like Cloud Backup Express. These strategic moves are complemented by the company's active share repurchase program where it bought back shares worth $78.06 million, signaling confidence in its future prospects. Moreover, AvePoint's revenue growth projection stands at 17% per year, outpacing the US market average of 8.8%, showcasing its potential to capture more market share amidst competitive pressures.

• Delve into the full analysis health report here for a deeper understanding of AvePoint.

• Learn about AvePoint's historical performance.

Core Scientific (NasdaqGS:CORZ)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Core Scientific, Inc. is a company that offers digital asset mining services in North America with a market capitalization of $3.19 billion.

Operations: Core Scientific generates revenue primarily from its Digital Asset Self-Mining Segment, which accounts for $455.93 million, and the Digital Asset Hosted Mining Segment, contributing $113.78 million.

Core Scientific's recent operations highlight its strategic positioning in the high-growth tech sector, particularly within the cryptocurrency mining and high performance computing (HPC) landscapes. Despite a challenging financial backdrop marked by a substantial net loss of $804.9 million in Q2 2024, the company is making significant strides in expanding its infrastructure capabilities. This is evidenced by their latest agreement with CoreWeave, expected to generate an additional $2 billion over 12 years, enhancing their already robust projected revenue from existing contracts to approximately $6.7 billion. Moreover, Core Scientific's commitment to innovation and scaling operations is further underscored by an R&D expense ratio that aligns with industry standards for fostering technological advancements in AI and blockchain technologies.

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

• Gain insights into Core Scientific's past trends and performance with our Past report.

Madrigal Pharmaceuticals (NasdaqGS:MDGL)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Madrigal Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company dedicated to developing therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States, with a market cap of approximately $4.66 billion.

Operations: Madrigal Pharmaceuticals is focused on creating treatments for non-alcoholic steatohepatitis (NASH) in the U.S., operating as a clinical-stage biopharmaceutical entity. The company does not currently generate revenue, reflecting its developmental stage status.

Madrigal Pharmaceuticals, despite its current unprofitability, is poised for significant growth with expected revenue and earnings surges of 56.1% and 68.12% per year respectively. Recent strategic hires like Dr. Michael R. Charlton as Senior Vice President of Clinical Development underscore the company's commitment to advancing treatments for liver diseases such as NASH, leveraging his extensive experience to potentially catalyze Madrigal's clinical programs and market position. Furthermore, with a focus on expanding its research capabilities, Madrigal's R&D expenses have been strategically aligned to support these ambitious growth targets, ensuring sustained innovation in its pipeline.

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

• Evaluate Madrigal Pharmaceuticals' historical performance by accessing our past performance report.

Key Takeaways

• Dive into all 252 of the US High Growth Tech and AI Stocks we have identified here.
• Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes.
• Simply Wall St is your key to unlocking global market trends, a free user-friendly app for forward-thinking investors.

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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