3 Tech Stocks Ready to Become the Next Big Thing


  • Roll the dice on these tech stocks to become the next big thing.
  • eGain (EGAN): Focusing on consistent profits could help eGain rise higher.
  • Creative Realities (CREX): Creative Realities could see a monster year in fiscal 2024.
  • Mogo (MOGO): Mogo could rise on the popularity of fintech platforms.
Tech Stocks to Become the Next Big Thing - 3 Tech Stocks Ready to Become the Next Big Thing

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Although it’s been a fun ride chasing some of the hottest semiconductor plays available, concerns about an overheated environment organically incentivizes the search for tech stocks to become the next big thing. Of course, it’s a risky endeavor but the rewards could be lifechanging.

Now, let me be clear about something. For every Nvidia (NASDAQ:NVDA), there are tons of non-Nvidia enterprises that have fallen by the wayside. If they’re still around, that’s only as a technicality. It can be a brutal journey attempting to find tech stocks to become the next big thing.

Nevertheless, if you look at NVDA, over the past five years, the stock gained more than 1,900%. Over its lifetime as a publicly traded entity, it has skyrocketed almost 110,000%.

Again, to clarify, very few companies will ever come close to this kind of return. But it does show you what’s possible. With that, here are tech stocks to become the next big thing.

eGain (EGAN)

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Operating under the application software subsegment, eGain (NASDAQ:EGAN) develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and Asia-Pacific. Per its public profile, the company helps businesses optimize their operations. The company serves customers in various industries, including financial services, telecommunications, retail, government, healthcare, and utilities.

One factor that makes EGAN quite intriguing among possible tech stocks to become the next big thing is the financial performance. In the first quarter last year, eGain posted earnings per share of 3 cents, beating the consensus view of 1 cent. In the past four quarters, the average positive earnings surprise clocked in at 107.23%.

For fiscal 2024, experts believe that the software specialist will post EPS of 31 cents on revenue of $92.81 million. That’s a bit disappointing compared to last year’s sales of $98 million. However, management is aiming for more consistent profitability, which could be a smart decision.

Overall, EGAN enjoys a moderate buy consensus view with a $9 price target.

Creative Realities (CREX)

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Another enterprise falling under the application software subsector, Creative Realities (NASDAQ:CREX) provides digital marketing technology and solutions in the U.S. and internationally. Per its corporate profile, Creative offers digital signage and media solutions to enhance communications in a wide-ranging variety of out-of-home environments. Some of its solutions include omni-channel customer engagement systems and interactive marketing technologies.

To be fair, CREX has a higher risk profile, even compared to speculative tech stocks to become the next big thing. For instance, between Q1 and Q3 last year, the software specialist’s average negative surprise landed at 55.37%. However, in Q4, Creative posted EPS of 20 cents. In sharp contrast, the market was only anticipating a breakeven quarter.

For patient investors, fiscal 2024 could be huge for CREX stock. Analysts see EPS reaching 25 cents on revenue of $71.5 million. That’s a gargantuan leap from last year’s print of a loss of 35 cents on sales of $45.17 million.

Lastly, Alliance Global Partners pegs CREX a “buy” with a $6.50 price target.

Mogo (MOGO)

undervalued fintech stocks A concept image of a hand reaching toward the word "Fintech," which is surrounded by icons representing money and growth. Fintech Stock Bargains, fintech stock
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Falling under the infrastructure software specialty, Mogo (NASDAQ:MOGO) operates as a digital finance company in Canada, Europe, and internationally. According to its corporate profile, Mogo’s digital solutions help build wealth and achieve financial freedom. Among its offerings are a stock trading app and a platform that provides online personal loans. With the rise of financial technology (fintech), MOGO could be an intriguing idea for tech stocks to become the next big thing.

What’s really fascinating is that the company has been lighting up the board in terms of quarterly results. While Mogo currently posts losses per share, it’s been mitigating analysts’ expectations. Indeed, the average positive surprise comes out to 50.88%.

For fiscal 2024, experts believe that the software specialist will post a loss of 77 cents on revenue of $53.25 million. On the bottom line, the expected print is wider than the loss of 35 cents during fiscal 2023. However, we’re also talking about 11.1% growth on the top line. Moreover, in 2025, analysts see revenue reaching $62.08 million.

Finally, MOGO enjoys a moderate buy view with a $6.21 price target.

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.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

Article printed from InvestorPlace Media, https://investorplace.com/2024/03/3-tech-stocks-ready-to-become-the-next-big-thing/.

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