SPECIAL REPORT The Top 7 Stocks for 2024

The 3 Best Speculative Stocks to Buy Now: September 2023


  • A high-ranking official at the Federal Reserve is planning to maintain its benchmark interest rate during its September policy meeting.
  • Shapeways Incorporated (SHPW): Four new supplier contracts will boost revenue by 5 million in the upcoming years.
  • Immix Biopharma (IMMX): Immix Biopharma is partnering with Dr. Suzanne Lentzsch to battle multiple myeloma and AL Amyloidosis.
  • Workday (WDAY): Long-term financial solid strength and technological growth prospects.
best speculative stocks - The 3 Best Speculative Stocks to Buy Now: September 2023

Source: Shutterstock

A high-ranking official at the Federal Reserve has indicated that the US central bank is planning to maintain its benchmark interest rate during its September policy meeting. This decision comes in response to recent economic data, which, according to the official, does not warrant any immediate need for additional monetary tightening. This has led to the rise of the best speculative stocks to buy.

Christopher Waller, known as one of the more hawkish members of the Federal Open Market Committee and an active voter in policy meetings, stated that the Federal Reserve is in a favorable position to exercise caution when it comes to further monetary tightening.

This encourages businesses and consumers to invest and spend in the economy to spur economic growth and job creation. The prospect of sustained low interest rates further leads investors to invest in the stock market, and these stocks are set to grow in the long term.

Shapeways Incorporated (SHPW)

Human hand touching the thumb of a 3D printed hand
Source: shutterstock.com/FabrikaSimf

Shapeways Incorporated (NASDAQ:SHPW) is a global 3D printing marketplace and service where users design and upload 3D printable files, and Shapeways prints the objects for consumer usage. Unlike competitors, Shapeways offers a wide range of materials for 3D printing including various plastics, metals, ceramics, and even precious metals, suitable for artistic and functional design needs. 

Although SHPW is down around 15.51% YTD, the stock has already climbed over 20% in the past week due to its impressive recently released strong second-quarter earnings. Software revenues increased 40% in the quarter compared to the same period in the prior year, and with $1.4 million of software revenues year to date, the company is on track to more than double software revenues for the full year 2023 from 2022.

Notably, the 3D Printing Market size is expected to grow from $20.24 billion in 2023 to $56.21 billion by 2028 at a 22.66% CAGR during the forecasted period. In a statement from Greg Kress, Shapeways’ Chief Executive Officer, Greg stated “We made notable progress year to date on each of our key objectives, particularly with regard to our software tools and services, as well as with enterprise manufacturing customers.” This makes it one of the best speculative stocks to buy.

Shapeways has also signed two new Tier-1 supplier contracts with leading automotive and transportation manufacturers for multi-year production programs. This will in turn affirm Shapeways’ lasting commitment to partnering with Tier-1 manufacturers to better support OEM volume production. Shapeways is also expanding its medical customer base securing two significant contracts with the medical sector, playing a key role in the field as well as bringing in over $5 million combined revenue in the coming years. These are strong indicators of high growth and long-term profitability for the company.

Accordingly, Yahoo Finance analysts see the value Shapeways holds for future growth, with every analyst labeling it as a “buy.” Moreover, the average analyst’s 1-year price target price for SHPW is $4.00. The 3D printing sector shows no signs of slowing down, and Shapeways is rising at the forefront of this sector for long-term growth. Investors should buy in on this stock this month.

Immix Biopharma (IMMX)

Biotechnology stocks, biomedical stocks
Source: aslysun / Shutterstock.com

Immix Biopharma Incorporated (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company that is known for Tissue-Specific Therapeutics (TSTx)™ targeting oncology and immuno-dysregulated diseases.

IMMX stock is up 10.36% YTD after the recent announcement of Dr. Suzanne Lentzsch to pioneer myeloma and AL Amyloidosis cures. Notably, the Biopharmaceuticals market size is expected to grow from $478.20 billion in 2023 to $704.91 billion by 2028 by an 8.07% CAGR during the forecast period. All in all, it’ one of those best speculative stocks.

Immix Biopharma is on the move by adding Dr. Lentzsch to its Nexcella Scientific Advisory Board, signaling a strategic push toward innovative therapies. Dr. Suzanne Lentzsch is a heavyweight in the myeloma and AL Amyloidosis arena, with a laundry list of achievements such as co-chairing committees and being an Associate Editor of the Journal of Clinical Oncology. The company’s focus on personalized therapies for oncology and immunology is getting a boost with Dr. Lentzsch’s expertise, potentially opening doors for groundbreaking treatments. This in turn is positive long-term news for the company to gain cures and long-term revenue.

Accordingly, Yahoo Finance analysts have an average 12-month price target of IMMX stock to $11.00. The Biopharmaceuticals sector shows no signs of slowing down, and Immix Biopharma is at the forefront of developing cures for these diseases for long-term growth.

Workday (WDAY)

An image of a robot reaching toward a laptop, surrounded by chat bubbles and graphs
Source: klyaksun/Shutterstock

Workday (NASDAQ:WDAY) is an enterprise cloud application company that helps customers manage external applications and environments, as well as control business operations.

WDAY stock currently is priced at $247.21, which is up 45.98% YTD, and 33 analysts forecast a 1-year median to high price range of $260.00 to $310.00 or a 5.2%-25.4% upside. 

The cloud-computing industry is valued at $569.31 billion as of 2022 and is expected to grow to $2,432.87 by 2030 at a 20.0% CAGR. This growth is due to the increasing usage of AI and ML, as cloud computing software drives technological innovation.  

Workday has shown strong financials never having a single year where the company did not demonstrate at least a 17% annual revenue growth. As of 2022, the company hit $5.94 billion beating 2021’s $4.89 by 21.48%, and 2023 is expected to reach $6.46 billion. Workday the long-term exhibited a levered FCF growth margin of 26.43%, beating the sector median of 7.06% by a 274.46% percent difference

A primary growth driver for Workday is Elastic Hypercube Technology (EHT). This intelligent technology is the new control for its Workday Adaptive Planning software which allows businesses to handle changing business needs, and expand planning to more users. The new technology balances power, scale, flexibility, and ease of use among consumers which leads to optimized speed and performance to respond to complex scenarios. It also adds to the already existing AI and ML functionality, helping businesses to optimize better than ever, and continues to allow Workday to experience rapid growth in the cloud industry.

Investors should buy WDAY stock because of its long-term financial strength and technological growth prospects. It’s what makes it part of those best speculative stocks.

On the date of publication, Michael Que 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.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2023/09/the-3-best-speculative-stocks-to-buy-now-september-2023/.

©2024 InvestorPlace Media, LLC