Within the Nasdaq there are companies with great potential for growth and good returns for this year. Of course, studying and analyzing all the companies that make up the index can take a lot of time, but I want to speed up your work by at least showing you these three top Nasdaq stocks 2024. Let’s take a quick look at them.
Match Group (MTCH)
As its name suggests, Match Group (NASDAQ:MTCH) is a company that specializes in matching people. It is a major player in the world of online dating. Some of its well-known platforms are Tinder, Hinge and Match.com.
Financially, in their Q3 2023 report they had an incredible $882 million in revenue. On top of that, they had an 11% increase in Tinder revenue. But the one that stole the show was Hinge with a wonderful 44% increase in direct revenue.
This company is not only focused on making people connect through virtual dating, but they also care about integrity and respect among their users. They have implemented the “Are You Sure?” feature on their various platforms, in order to make the interaction between their users more conscious and respectful.
This makes their users feel protected and more confident, which creates a great loyalty with the company, which eventually translates into numbers and growth.
Roku (ROKU)
The United States has a king of TV streaming, and that is Roku (NASDAQ:ROKU). It has caught the attention of investors lately due to its great growth and excellent strategic moves.
During the third quarter of 2023 they reported in total revenue an incredible $912 million, which represents a 20% increase when compared to the previous year. Now, referring specifically to the platform, it generated $787 million, with a growth of 18%.
In their active accounts, they have added 2.3 million, reaching a total of 75.8 million. But that has not been the only thing that has increased. In hours transmitted, they have added almost 5 billion hours more than last year, reaching a total of 26.7 billion hours transmitted.
They have also recently announced the incredible Roku Pro Series TVs, which will offer an incredible streaming experience with amazing picture quality and full surround sound. These TVs will feature a 4K QLED display, Mini-LED and a very sleek design.
But they go further through a partnership they have made with Unity (NYSE:U). The company who is one of the leaders in 3D content, will allow advertisers of mobile applications to carry their campaigns to the world of television.
GigaCloud (GCT)
Within the world of eCommerce there is one prominent and very important company, that is GigaCloud Technology (NASDAQ:GCT). It specializes in end-to-end global solutions for large packaged goods.
This company is well known for its GigaCloud Marketplace, which is a platform that seamlessly connects suppliers and resellers around the world. It is a great solution to streamline mechanisms for cross-border transactions.
Financially, during the third quarter of 2023, they reported total revenues that reached $178 million, which represents an impressive 39.2% year-over-year increase. But, more impressive was the increase in their gross profit by 117.3%.
Beyond the impressive figures in their financial report, they made the acquisition of Noble House Home Furnishings LLC, for $85 million, with the grand strategic objective of continuing to expand their assets and capabilities.
Not only are they successful financially and with their strategic acquisitions, but they are successful holistically. They have received recognition in the “Best Logistics Technology Company” and “Best E-Commerce Technology” categories in Furniture Today’s 2023 reader rankings.
As of this writing, Gabriel Osorio-Mazzilli did not hold (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.
