High Growth Tech Stocks To Watch In October 2024

The United States market has remained flat over the last week but is up 37% over the past year, with earnings forecast to grow by 15% annually. In this context, identifying high growth tech stocks involves looking for companies that demonstrate strong innovation and adaptability in a rapidly evolving sector.

Top 10 High Growth Tech Companies In The United States

Name	Revenue Growth	Earnings Growth	Growth Rating
Super Micro Computer	20.92%	27.84%	★★★★★★
Sarepta Therapeutics	23.80%	44.01%	★★★★★★
TG Therapeutics	30.63%	46.00%	★★★★★★
Ardelyx	27.19%	66.44%	★★★★★★
Amicus Therapeutics	20.26%	62.89%	★★★★★★
Invivyd	45.42%	61.68%	★★★★★★
Blueprint Medicines	26.31%	69.27%	★★★★★★
Travere Therapeutics	29.19%	70.82%	★★★★★★
Seagen	22.57%	71.80%	★★★★★★
ImmunoGen	26.00%	45.85%	★★★★★★

Click here to see the full list of 244 stocks from our US High Growth Tech and AI Stocks screener.

We'll examine a selection from our screener results.

Adobe (NasdaqGS:ADBE)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Adobe Inc., with a market cap of approximately $213.67 billion, operates globally as a diversified software company through its subsidiaries.

Operations: The company generates revenue primarily from its Digital Media segment, which accounts for $15.44 billion, followed by the Digital Experience segment at $5.24 billion, and Publishing and Advertising at $276 million. The business model focuses on providing a broad range of software solutions that cater to creative professionals and enterprises globally.

Adobe's strategic emphasis on integrating AI across its product suite, notably with the launch of Adobe GenStudio for Performance Marketing, underscores its commitment to innovation in high-growth tech sectors. This new platform addresses the escalating demand for personalized marketing content, which is expected to quintuple by 2026. Adobe's R&D efforts are robust, investing 16.5% of its revenue back into development, a strategy that not only enhances existing products but also fuels future growth avenues like Frame.io and Premiere Pro’s Firefly-powered workflows. These initiatives reflect Adobe’s proactive adaptation to dynamic market needs and underline its potential in an increasingly digital economy.

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

• Learn about Adobe's historical performance.

Dynatrace (NYSE:DT)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Dynatrace, Inc. offers a security platform for multicloud environments across various regions including North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America with a market cap of $16.41 billion.

Operations: The company generates revenue primarily from its Internet Software & Services segment, amounting to $1.50 billion. Its operations are focused on providing security solutions for multicloud environments across a global market.

Dynatrace's recent strategic deployments and client successes underscore its adaptability and foresight in the tech landscape. The company's R&D investment, representing 20.5% of its revenue, fuels innovations that enhance user experience and operational efficiency across diverse industries. Notably, during UEFA EURO 2024, Dynatrace enabled Deutsche Telekom IT to manage a significant surge in digital traffic, ensuring robust app performance for over 2 million new users—a testament to its scalable solutions in high-demand scenarios. This focus on continuous improvement through substantial R&D spending not only secures immediate client satisfaction but also positions Dynatrace favorably for future technological advancements and market demands.

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

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

Pinterest (NYSE:PINS)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Pinterest, Inc. is a visual search and discovery platform serving users both in the United States and globally, with a market cap of $22.25 billion.

Operations: The company generates revenue primarily from its Internet Information Providers segment, amounting to $3.34 billion. As a visual search and discovery platform, it serves users worldwide through advertising and related services.

At the recent Metadata and AI Summit, Pinterest showcased its commitment to integrating cutting-edge AI into its platform, a move that aligns with its impressive revenue growth projections of 13.5% annually. This growth is notably faster than the broader U.S. market's 8.9%. Additionally, Pinterest's focus on R&D is evident in its financial commitments; last year alone, R&D expenses were substantial, underscoring a strategy aimed at fostering innovation and staying ahead in the highly competitive tech landscape. With earnings expected to surge by 34.1% per year, Pinterest is not just enhancing user engagement through AI but also setting itself up as a formidable player in digital advertising and data analytics—a sector where continuous innovation is key to sustainability and market expansion.

• Click here and access our complete health analysis report to understand the dynamics of Pinterest.

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

Where To Now?

• Click this link to deep-dive into the 244 companies within our US High Growth Tech and AI Stocks screener.
• Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments.
• Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor.

Want To Explore Some Alternatives?

• 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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