Embarking on the quest to discover the next ground-breaking tech stocks amidst a landscape dominated by red-hot semiconductor plays is akin to navigating treacherous waters. The tantalizing prospects of groundbreaking technologies incentivize this journey, despite its inherent risks.
Throughout history, milestones have been achieved by pioneering spirits who dared to dream big and strive for the seemingly unattainable. Companies like Nvidia (NASDAQ:NVDA) serve as beacons, illuminating the path with their remarkable successes. In a spectacular display of growth, NVDA has surged more than 1,900% in the last five years and an astronomical 110,000% over its public trading lifetime.
While such meteoric rises are rare phenomena, they underscore the immense potential that tech stocks can offer. And so, we venture forth to explore three burgeoning tech enterprises poised to become the next big thing.
Pioneering Path with eGain (EGAN)
Source: Shutterstock
Operating in the realm of application software, eGain (NASDAQ:EGAN) stands out as a company that crafts, licenses, implements, and supports customer service infrastructure software solutions globally. Catering to a diverse array of industries, including financial services, telecommunications, retail, government, healthcare, and utilities, eGain aids businesses in optimizing their operations.
One compelling aspect setting EGAN apart among potential tech darlings is its stellar financial performance. In the first quarter of the previous year, eGain exceeded expectations by posting earnings per share of 3 cents, a significant jump from the consensus of just 1 cent. The company has delivered an average positive earnings surprise of 107.23% over the past four quarters.
Looking ahead to fiscal 2024, analysts foresee eGain achieving earnings per share of 31 cents on revenue totaling $92.81 million – a slight dip from the prior year’s $98 million in sales. However, with a strategic focus on attaining sustainable profitability, eGain’s trajectory indicates a potentially prudent evolution.
With a moderate buy consensus view and a price target of $9, eGain beckons investors with promises of unforeseen growth potential.
Source: Shutterstock
Falling within the domain of application software, Creative Realities (NASDAQ:CREX) distinguishes itself by offering digital marketing technology and solutions worldwide. Renowned for its provision of digital signage and media solutions that enrich communication in diverse out-of-home environments, Creative leads the way in omni-channel customer engagement systems and interactive marketing technologies.
Despite its higher risk profile compared to other speculative tech stocks, Creative Realities showcases promising signs. While the software specialist experienced an average negative surprise of 55.37% between Q1 and Q3 of the previous year, Q4 saw a remarkable turnaround with the posting of 20 cents in earnings per share – a stark contrast to the market’s expectations of a breakeven quarter.
Optimistic investors eye a potentially transformative fiscal 2024 for CREX, with analysts predicting earnings per share to soar to 25 cents on revenue of $71.5 million. This substantial leap marks a significant departure from the prior year’s loss of 35 cents on sales of $45.17 million.
Endorsed as a “buy” by Alliance Global Partners with a $6.50 price target, Creative Realities beckons daring investors to embrace its transformative journey.
Innovative Ventures with Mogo (MOGO)
Source: Wright Studio / Shutterstock.com
Operating in the sphere of infrastructure software, Mogo (NASDAQ:MOGO) operates as a digital finance company, extending its services to Canada, Europe, and beyond. Pioneering innovative digital solutions aimed at building wealth and fostering financial independence, Mogo’s offerings include a stock trading app and an online personal loans platform.
Significantly, Mogo has been consistently outperforming analyst forecasts with an average positive surprise rate of 50.88%, despite its current losses per share. Looking into fiscal 2024, experts foresee the company posting a loss of 77 cents on revenue amounting to $53.25 million – showcasing an uptick of 11.1% in revenue compared to the prior year.
While the anticipated wider loss on the bottom line may give pause, the forecasted revenue growth trajectory paints a promising picture. Analysts predict revenue to surge to $62.08 million by 2025, bolstering Mogo’s allure as a forward-thinking contender in the realm of tech stocks.
Endorsed with a moderate buy rating and a $6.21 price target, Mogo beckons visionary investors to join its innovative crusade towards financial empowerment.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
