In this article, we will look at 11 Oversold NASDAQ Stocks to Buy Right Now.

On April 28, Darrell Cronk, Wells Fargo Wealth and Investment Management CIO, appeared on CNBC’s ‘Squawk on the Street’ to discuss market outlooks and what investors should look at in the current market circumstances. He opined that it is growth that investors should be worried about, not inflation. Cronk was of the view that the market will likely see better buying/entry opportunities in the coming weeks, and so it is essential to be careful when chasing equities too hard. There is a growing divide between sentiment and positioning, as we live in a geopolitical-first world where the rules of the game can change with stunning speed.

Cronk further opined that many people overlook a key fact about tariffs, solely focusing on their inflationary nature. While tariffs are inflationary, they are blunt-force resets in prices and are not sustained inflationary. So, although companies need to be able to absorb the blunt force reset of prices and impact of margins, it’s not like one continues to see the rate of change of inflation move meaningfully higher up from years one to two, three, and four. This trend only emerges when tariffs move meaningfully higher up over a period of time.

READ ALSO: Recession Resistant Investing: 10 Best Grocery Stocks To Buy Now and 10 Best Stocks That Will Always Grow. 

Are Rate Cuts a Good Idea?

Cronk also talked about how the president has been screaming at the Fed to slash interest rates. But it’s not just the president; the bond market is doing the same. Fed cuts over a period of time are essential. However, according to Cronk, if the Fed shows up tomorrow and announces an emergency cut of sorts, markets wouldn’t perceive it so well. The markets would take it as the Fed knowing something they do not, and the growth scare would grow more pervasive and problematic. This is why the Fed has to be careful about how they act.

The Fed appears to be more concerned about inflation, and it has been consistent in that. If they switched to more growth concerns than inflation concerns, the markets would perceive them as more dovish. He said that we just saw the Fed’s president saying that June could be on the table for a possible rate cut. The Fed is thus starting to lay the groundwork, and we would have to see how that narrative turns out. If it takes a more dovish approach, markets would perceive that in a well-timed, thoughtful way.

Since April 1, nine of the eleven S&P gig sectors have revised their guidance lower. The problem is that out of the 20%- 25% of the reported earnings that the market has seen right now, less than 20% of them have been willing to give forward guidance. Therefore, Cronk highlighted that the guidance suspension is obviously problematic and important here. The market thus needs consumer discretionary stocks and industrials to hold up and tech to deliver.

With these trends in view, let’s look at the 11 oversold NASDAQ stocks to buy right now.

Our Methodology 

We used stock screeners to compile a list of NASDAQ stocks that experienced significant YTD performance declines. We then selected the 11 stocks with the highest analyst upside potential as of April 29, 2025. We also added the number of hedge fund holders for these stocks as of Q4 2024, sourcing hedge fund data from Insider Monkey’s database. The list is sorted in ascending order of the upside potential.

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 363.5% since May 2014, beating its benchmark by 208 percentage points (see more details here).

11 Oversold NASDAQ Stocks to Buy Right Now

11. Agilysys, Inc. (NASDAQ:AGYS)

Perf YTD: -43.91%

Analyst Upside: 48.89%

Number of Hedge Fund Holders: 20

Agilysys, Inc. (NASDAQ:AGYS) provides hospitality software delivering cloud-native software-as-a-service (SaaS) and on-premises solutions for cruise lines and other sectors, including hotels, resorts, restaurants, stadiums, corporate food service management, and more. The company offers innovative software for various purposes, including inventory and procurement, document management, payment gateway, reservation and table management, and more. It also serves the gaming industry for cruise lines and other sectors, and ranks 11th on our list of the top oversold NASDAQ stocks to buy right now.

Analysts have bullish sentiments for the stock. On April 28, Craig-Hallum analyst George Sutton maintained a Buy rating on Agilysys, Inc. (NASDAQ:AGYS). Oppenheimer analyst Brian Schwartz also maintained a Buy rating on the company on April 9, setting a $90.00 price target.

In addition, Needham analyst Mayank Tandon reiterated a Buy rating on Agilysys, Inc. (NASDAQ:AGYS) on March 5, setting a price target of $100.00 and saying it has a positive outlook. The analyst told investors in a research note that the company has the potential to overcome current headwinds in its point-of-sale sales and services revenue, which they consider to be temporary headwinds. The analyst expects growth to rebound to its usual trends within two to three quarters.

The firm provided various other reasons to support their bullish stance on the stock, saying that Agilysys, Inc. (NASDAQ:AGYS) is well-positioned in the considerable $16 billion total addressable market with leading products in point-of-sale solutions and property management systems for the hospitality sector. It has also bolstered its sales leadership team, which the analyst expects will support over a 25% sustained organic subscription revenue growth rate per annum and expanding EBITDA margins.

10. Rigetti Computing, Inc. (NASDAQ:RGTI)

Perf YTD: -39.58%

Analyst Upside: 62.69%

Number of Hedge Fund Holders: 17

Rigetti Computing, Inc. (NASDAQ:RGTI) provides full-stack computing services to the government, global enterprises, and research clients through its Rigetti Quantum Cloud Services platform. The company manufactures and designs its own quantum processing units (QPUs) and builds entire quantum computing systems. Its superconducting qubits employ existing semiconductor processes, a commonly used and more tried and tested technique compared to its rivals.

Analysts are bullish on the stock, even when Rigetti Computing, Inc. (NASDAQ:RGTI) doesn’t generate much revenue yet. Analysts regard it as investing in Nvidia before the AI boom began in the 2010s, as quantum computing is expected to become a force to reckon with in the future. Since Rigetti Computing, Inc. (NASDAQ:RGTI) conducts the complete process of manufacturing a quantum computer itself, going from chip design and software to manufacturing and operating the system, it is a one-stop shop for the current quantum technology. The company’s largest customers include the Horizon Quantum Computing in Singapore, the Air Force Research Lab, and the Superconducting Quantum Materials and Systems Center.

It delivered $11 million in revenue in 2024, but analysts estimate revenue to rise to $14 million in 2025, with net loss dropping to $70 million. Rigetti Computing, Inc. (NASDAQ:RGTI) plans to launch a non-modular 100-qubit system in 2026, aiming to continue this trajectory and manufacture an even more powerful 336-qubit system in the coming years. The company also plans to improve its median gate fidelity, which means the rate at which it identifies errors, to 99.5% in its future systems from 99% today. On April 23, Craig-Hallum analyst Richard Shannon maintained a Buy rating on Rigetti Computing, Inc. (NASDAQ:RGTI).