In this article, we will look at the 10 Best Up and Coming Tech Stocks to Buy.
On October 1, Renaissance Capital released its Q3 2025 US IPO market review. The third quarter marked the biggest quarter for IPOs since 2021. During the quarter, 64 IPOs raised around $15.3 billion. The report highlighted that IPOs experienced delays in the earlier quarters due to macroeconomic headwinds. However, the new issuance activity started to pick up pace in July 2025, followed by strong activity in August and September. According to a report by EY, the US IPO market witnessed new issuance raising approximately $8 billion in proceeds during September alone.
Notably, 24 IPOs raised $100 million or more during Q3, which marked another record high since 2021. IPO experts at Renaissance attributed this surge to a wave of high-profile unicorns. The overall bullish market and the renewed interest in growth stocks led many new companies to be priced above the midpoint. One notable IPO during the quarter was Figma, which popped around 250% on debut.
As a result of stellar performance by some of the top names, the Renaissance IPO Index outperformed the S&P 500 with 11% gains during the quarter. The report highlights that the third quarter has set the stage for a strong finish to 2025, unless the SEC funding lapse drags on.
With that, let’s take a look at the 10 Best Up and Coming Tech Stocks to Buy.
Our Methodology
To compile the list of 10 Best Up and Coming Tech Stocks to Buy, we used the Finviz stock screener, CNN, and Insider Monkey’s Q3 2025 hedge funds database. Using the screener, we aggregated a list of new technology stocks that have had their IPO in the last 2 years, and analysts see more than 25% upside. Next, we cross-checked the upside potential from CNN and ranked the stocks in ascending order of the number of hedge fund holders. Please note that the data was recorded on November 28, 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10 Best Up and Coming Tech Stocks to Buy
10. Bullish (NYSE:BLSH)
Analyst Upside Potential: 40.06%
Number of Hedge Fund Holders: 32
Bullish (NYSE:BLSH) is one of the Best Up and Coming Tech Stocks to Buy. Wall Street has a positive outlook on the stock since its fiscal Q3 2025 earnings beat on November 19. On November 23, Joseph Vafi from Canaccord Genuity reiterated a Buy rating on Bullish (NYSE:BLSH) but lowered the price target from $68 to $50. Earlier on November 20, Owen Lau from Clear Street had reiterated a Buy rating on the stock with a $57 price target.
During the fiscal Q3 2025, the company grew its revenue by 71.52% year-over-year to $76.5 million, surpassing estimates by $5.36 million. Moreover, the EPS of $0.10 also stayed in line with the consensus. Management attributed the robust performance to growth in its subscription, services, and other revenue categories. Notably, Bullish (NYSE:BLSH) turned its $67.3 million net loss last year into $18.5 million net income during the quarter.
Looking ahead, management expects fiscal Q4 2025 Subscription, Services & Other Revenue (non-IFRS) of $47.0 million to $53.0 million, along with adjusted Operating Expenses of $48.0 million to $50.0 million.
Analyst Joseph Vafi from Canaccord Genuity noted that they remain bullish on the stock due to the stellar performance in Q3. However, the firm views its forward estimates as conservative, due to minimal contributions from US business and options trading launches amid crypto volatility.
Bullish (NYSE:BLSH) operates an institutionally focused global digital asset platform, offering regulated market infrastructure like its Bullish Exchange for spot and derivatives trading with deep liquidity via a central limit order book and automated market making.
9. Figma, Inc. (NYSE:FIG)
Analyst Upside Potential: 90.98%
Number of Hedge Fund Holders: 38
Figma, Inc. (NYSE:FIG) is one of the Best Up and Coming Tech Stocks to Buy. Figma, Inc. (NYSE:FIG) failed to impress investors with its fiscal Q3 2025 earnings, causing the stock to fall more than 17%. However, Wall Street remains optimistic with analysts’ 12-month median price target of $69 reflecting 90.98% upside from the current level. On November 19, Michael Turrin from Wells Fargo reiterated a Hold rating on the stock with a $52 price target, indicating 46.48% upside.
The investor sentiment was mainly affected due to a one-time stock-based compensation expense of $975.7 million, which resulted in GAAP net loss per share of $2.72. Other than that, the fundamentals of Figma, Inc. (NYSE:FIG) remain strong with 12,910 paid customers with more than $10,000 in ARR and 1,262 paid customers with more than $100,000 in ARR.
In addition to growing its customer base, the company is also expanding its partnerships. On November 6, Figma, Inc. (NYSE:FIG) announced its strategic collaboration with ServiceNow to turn visual designs into fully working enterprise apps in minutes. As a result of this partnership, developers would be able to directly prompt Figma design to the ServiceNow Build Agent and create fully functional enterprise applications.
Figma, Inc. (NYSE:FIG) provides a cloud-based design platform that enables real-time collaboration for interface and product design. Its software allows teams to create, prototype, and share interactive designs all within a browser environment.
