11 Best Breakout Stocks to Buy According to Analysts

6. Matrix Service Company (NASDAQ:MTRX)

Stock Upside Potential as of May 2: 64.88%

Number of Hedge Fund Holders: 20

Matrix Service Company (NASDAQ:MTRX) is an Engineering & Construction company that provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. Its Storage and Terminal Solutions segment undertakes work related to above-ground crude oil and refined product storage tanks. The company is reaping on its increased focus on large complex projects across the energy and industrial landscape.

Executing a diverse backlog of large multiyear projects is the catalyst behind sustained organic revenue growth. Consequently, revenue in its second quarter fiscal 2025 rose to $187.2 million compared to $175 million a year ago. The increase was attributed to higher volumes in the storage and terminal solution segments.

A backlog of about $1.3 billion as of 2024 underscores Matrix Service Company’s (NASDAQ:MTRX) solid revenue base. Consequently, the company remains in a solid position to achieve its fiscal 2025 revenue guidance of between $850 and $900 million, which would be a significant improvement from revenue of $782.4 million delivered in 2024.