Wagering on under-the-radar stocks is one of the leading trends in the stock market. These stocks, from publicly traded companies typically ignored by mainstream financial media and analysts, blend opportunity with challenge. Higher risks due to scant information make thorough research and due diligence essential. However, placing your bets on these stocks can result in multi-bagger returns over the long haul, offering robust upside.

Moreover, in the current financial landscape, where treasury yields are falling and the U.S. Federal Reserve may cut interest rates, these stocks offer a gateway to early investment in burgeoning industries and innovative technologies. This strategic move can effectively result in substantial long-term gains, positioning investors at the forefront of potential market breakthroughs.

Remarkably, hundreds of stocks consistently outperform the market, yet they receive little analyst attention. However, these overlooked entities quietly reshape industries through energy transitions, AI integrations, mineral acquisitions, and digital innovations. By delving into these hidden gems, investors can diversify their portfolios and potentially enjoy substantial returns.

Zscaler (ZS)

Zscaler (NASDAQ:ZS) is gaining attention as a standout in cloud security, backed by Oppenheimer’s 2024 endorsement with an Outperform rating and a bullish $290 price target. Moreover, the company has grown remarkably, surging 109.56% in the past year alone. TipRanks analysts assign Zscaler a resounding Strong Buy rating, projecting a 3% upside potential.

Financially, Zscaler reported first quarter Non-GAAP earnings per share of $0.67, surpassing expectations by $0.18. With revenues of $496.7 million, a substantial 39.7% year-over-year increase, the company exceeded forecasts by $23.27 million, driving its shares up by 6.3%. This remarkable performance demonstrates Zscaler’s consistent growth, maintaining its Rule of 60 for 13 consecutive quarters.

Furthermore, Zscaler’s strategic collaboration with Microsoft, integrating its cloud security platform with Microsoft Azure Active Directory and Microsoft 365, emphasizes its commitment to innovation and enhancing cybersecurity. Zscaler’s consistent outperformance in the rapidly growing Cloud Security market positions it for continued success.

Viper Energy (VNOM)

Viper Energy’s (NASDAQ:VNOM) unique position as a variable distribution partnership, treated as a corporation for tax purposes, enables it to leverage high-margin, undeveloped assets for sustainable free cash flow. This innovative approach is a key driver of its financial resilience and market appeal.

Financially, Viper Energy demonstrates remarkable growth in the energy industry, highlighted by its third-quarter Non-GAAP earnings per share of $1.11, notably exceeding expectations by $0.62. Moreover, this performance, fueled by a 4.7% increase in production from the second quarter of 2023, underscores the company’s operational efficiency and strategic growth.

Furthermore, TipRanks analysts assign Viper Energy as a Strong Buy, with a whopping 24.92% upside potential. The stock’s ownership mix, with substantial stakes held by institutional investors and insiders, further reinforces market confidence in Viper’s trajectory. As the company continues to navigate the dynamic energy sector, its strategic execution and robust performance make it an attractive investment choice.

Photronics (PLAB)

Photronics (NASDAQ:PLAB), a key American semiconductor photomask manufacturer, is strategically investing $140 million to enhance integrated circuit capacity and advance technology nodes (22–28 nanometers), particularly at its Boise and Allen sites. This move signifies the company’s dedication to leading in high-demand tech areas.

Financially, Photronics has demonstrated remarkable success, with its shares soaring by 77.47% last year. This triumphant ascent is punctuated by a stellar fourth-quarter performance, where the company left analysts in awe with non-GAAP earnings per share of $0.60, an astonishing $0.07 above projections. Adding to this encouraging picture is an impressive 8.2% year-over-year surge in revenue, which stands at a formidable $227.47 million.

Photronics is positioning itself at the forefront of industry innovation, particularly in producing AMOLED panels on G8.6-sized glass. Additionally, this focus on a rapidly emerging segment highlights Photronics’ capacity for technological leadership and positions it to benefit from the expanding semiconductor industry across various sectors.

On the date of publication, Muslim Farooque 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.