Tech stocks are often a solid investment for those looking for long-term growth potential. Using Stock Target Advisors’ Stock Screener Tool, we have selected two tech stocks with more than 30% upside potential: Datadog (DDOG:NSD) and Alphabet (GOOGL:NSD) (GOOG).
Datadog Inc. (DDOG:NSD):
Datadog (DDOG:NSD) offers cloud-based analytics and monitoring tools for programmers, IT operations teams, and business users. The company is benefiting from the growing demand for cybersecurity and the increasing adoption of cloud services.
Datadog has seen revenue growth of over 50% each year since going public, and revenue grew 72% in the first nine months of 2022. DDOG stock has a Strong Buy consensus rating from Wall Street analysts with an average price target of $104.77, suggesting a 50.3% upside potential.
Alphabet Inc. Class A (GOOGL:NSD):
Alphabet (GOOGL:NSD, GOOG:NSD) is the parent company of Google, which dominates the global search market. The company is well-positioned to benefit from the expanding digital advertising and cloud computing markets.
Alphabet has a strong financial position with large cash reserves and free cash flow, which it can use for strategic acquisitions, share repurchases, and capital investments.
Wall Street analysts have a Strong Buy consensus rating on the Alphabet stock with an average price target of $126.09, suggesting 38.4% upside potential.
Conclusion:
In conclusion, both Datadog and Alphabet have strong growth potential, making them compelling investments for those looking for long-term returns.
As always, investors should conduct their own research and due diligence before making any investment decisions.
