12 Best Tech Stocks to Buy According to Hedge Funds

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8. Roper Technologies, Inc. (NASDAQ:ROP)

Average Analyst Upside: 25.45%

Number of Hedge Fund Holders: 54

Market Cap: $55.69 billion

Roper Technologies, Inc. (NASDAQ:ROP) is one of the best tech stocks to buy according to analysts. On August 19, Citi analyst George Kurosawa initiated coverage on Roper Technologies, Inc. (NASDAQ:ROP) with a Buy rating and a price target of $626. As of September 2, the stock was trading at $517.59, which means Kurosawa’s implied upside is still 20.9%.

According to the analyst, Roper’s latest “more subtle” evolution has gone overlooked by investors, with expanded operational and capital allocation capabilities. According to Kurosawa, that should drive higher value capture and a path to accelerating organic growth.

He also cited that AI is “more opportunity than threat” for the company. He added that the company is leveraging advantages from vertical-specific scientific data/expertise and the agility of the company’s decentralized operating model.

Roper Technologies saw robust Q2 earnings. The company continues to see traction in its software businesses like Deltek, Vertafore, PowerPlan, and Aderant.  Advances in AI, especially generative AI, are helping boost results. Its construction software business, ConstructConnect, is also growing due to high demand for AI-powered tools.

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