Buckle up: Four fastest-growing Nasdaq technology stocks to watch

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Buckle up: Four fastest-growing Nasdaq technology stocks to watch

 Buckle up: Four fastest-growing Nasdaq technology stocks to watch
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Highlights

  • Autodesk’s (Nasdaq: ADSK) net income in Q1 was US$155.6 million against US$66.5 million in the year-ago quarter.

  • Atlassian Corp’s (Nasdaq: TEAM) total revenue in Q2 was US$559.5 million against US$430.5 million in a year ago.
     
  • NXP Semiconductors’ (Nasdaq: NXPI) net income in Q2 was US$397 million against a net loss of US$214 million in Q2, 2020.

Growth stocks are companies that report higher revenue than the average market rate. They typically don’t pay dividends to shareholders but invest the profits into the business. So, investors reap the benefits when the stocks grow.

These companies generally offer unique patented technology products. In addition, their P/E ratios are higher, and the stocks are often expensive. Here we take a closer look at some of the four fast-growing technology stocks on Nasdaq.

Autodesk, Inc. (Nasdaq: ADSK)

The stock of the software company traded at US$388.75 at 10.34 am ET on August 13, up 0.21 percent from the August 12 closing price. The stock of ADSK went up by 8.57 percent YTD.

Also read: When virtual world gets real: Top metaverse stocks to explore

The total revenue of this leading US technology company in Q1 this year was US$989.3 million against US$885.7 million in Q1 last year. The net income for the period was US$155.6 million against US$66.5 million in Q1 last year.


 

Source: Pixabay.

The software company makes products for various economic sectors, including manufacturing, media, architecture.  

The market capitalization of the company is US$73 billion. The P/E value of ADSK is 56.95. The forward P/E one-year value is 119.44. The EPS is US$5.83.

The 52-week highest and lowest stock value was US$335.67 and US$215.83.

Atlassian Corporation Plc (Nasdaq: TEAM)

The stock of the software company traded almost flat at US$388.75 at 10.34 am ET on August 13 from its August 12 closing price. The stock surged by 45.07 percent YTD.

The total revenue of TEAM for the second quarter in 2021 was US$559.5 million, while it was US$430.5 million in the year-ago quarter. The net losses for Q2 this year were US$231.1 million against US$385.2 million last year.

The market capitalization of the technology company is US$84.9 billion. The forward P/E one year of TEAM is 1165.66 and the earnings per share are US$-2.80.

The highest and lowest stock value of the provider of Crowd and FishEye technologies for the last 52 weeks was US$349.50 and US$161.30.

NXP Semiconductors N.V (Nasdaq: NXPI)

The stock of the semi-conductor company traded at US$216.34 at 10.45 am ET on August 13, up 0.74 percent from the August 12 closing price. The stock price of this Netherland-based enterprise surged by 35.79 percent YTD.

The total revenue of the company for the second quarter of 2021 was US$2.5 billion against US$1.8 billion in the previous year. The net income for Q2 was US$397 million against a net loss of US$214 million in Q2, 2020.

The market capitalization of the company is US$57.33 billion. The P/E value is 58.92, and the forward P/E one year is 23.76. The EPS is US$3.67, while the annual dividend is US$2.25. The highest and lowest stock value of NXPI for 52 weeks was US$218.84 and US$117.25.

Also read: Looking for growth stocks? Here are two options

Analog Devices, Inc. (Nasdaq: ADI)

The stock of this semi-conductor company traded at US$170.70 at 10.52 am ET on August 13, down by 1.2 percent over the August 12 closing price. The stock value of the company surged by 15.45 percent YTD.

The total revenue of ADI for Q2 this year was US$1.6 billion against US$1.3 billion in Q2 the previous year. The gross profit for Q2, 2021 was US$1.1 billion against US$846.7 million in Q2 last year. The net income for Q2 this year was US$422.9 million against US$267.7 million in Q2 the previous year.

The market capitalization of the integrated circuits provider is US$62.7 billion. The P/E ratio is 40.6, and the forward P/E one year is US$26.84. The EPS is US$4.19, and the annual dividend is US$2.76. The highest and lowest stock price of ADI for the past 52 weeks was US$175.25 and US$110.66.

Bottomline

Technology companies reported solid earnings in the first two quarters this year. They have projected solid growth in the third quarter and full-year 2021. The sector is upbeat over the opportunities from the economic recovery.

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