On June 17, Tony Wang, Portfolio Manager at T. Rowe Price, joined ‘Closing Bell Overtime’ on CNBC to talk about June’s tech leadership. Wang discussed the dual nature of AI’s impact on companies and noted that it can be both a boost and a drag. He views investing through the lens of an S-curve, with the aim to identify areas where adoption is in its steepest phase. He also pointed to challenges from new players like OpenAI and suggested that younger generations are increasingly using OpenAI as their primary tool for finding information online, which indicates a shift in interaction with the internet.
Wang then discussed the timeline for AI agents becoming a clear and viable alternative to hiring people for enterprise tasks. He predicted a slow start followed by a rapid increase in adoption. This acceleration will occur once enterprises integrate data and bravely implement these technologies. He believes that once one company in an industry successfully adopts AI agents, others will be compelled to follow suit to avoid a cost structure that puts them at a disadvantage. He concluded that this shift will likely happen quickly, although not in the next few months.
That being said, we’re here with a list of the 12 best technology stocks according to Wall Street analysts.
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Methodology
We used the Finviz stock screener to compile a list of the top tech stocks. We then selected 12 stocks that had a high average upside potential of over 25%. The stocks are ranked in ascending order of their average upside potential. We’ve also added the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s database, as of Q1 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12 Best Technology Stocks According to Wall Street Analysts
12. Five9 Inc. (NASDAQ:FIVN)
Number of Hedge Fund Holders: 44
Average Upside Potential as of June 19: 27.92%
Five9 Inc. (NASDAQ:FIVN) is one of the best technology stocks according to Wall Street analysts. Earlier on June 10, Five9 announced the launch of Agentic CX, which featured new AI Agents and AI Trust & Governance at Customer Contact Week in Las Vegas. The advancements were powered by the Five9 Agentic Experience Engine, which is central to the company’s Genius AI Architecture.
The advancements are designed to revolutionize customer experience with AI that reasons, decides, and takes action autonomously, without compromising on control and security. For rapid deployment, Five9 provides pre-built templates for specific industry verticals that customers can customize. Additionally, Code Crafter uses LLMs to generate high-quality JavaScript functions, which reduces development effort.
Some of the key features include an AI Summary Node, which automatically summarizes voice and digital interactions in selectable languages to provide context for live agents or future reference. Intent Detection and Entity Extraction use LLMs to facilitate natural dialogues and ensure quicker resolution of customer inquiries. Similarly, a Knowledge Node utilizes Retrieval Augmented Generation/RAG to generate contextual answers based on enterprise knowledge.
Five9 Inc. (NASDAQ:FIVN) provides an Intelligent CX Platform for contact centers internationally.
11. Enphase Energy Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 40
Average Upside Potential as of June 19: 34.69%
Enphase Energy Inc. (NASDAQ:ENPH) is one of the best technology stocks according to Wall Street analysts. On June 18, RBC Capital analyst Christopher Dendrinos adjusted the price target on Enphase Energy to $28 from $50, while maintaining a Sector Perform rating on the shares. This revision was primarily a response to the proposed Senate reconciliation bill, which is expected to impact the clean energy sector.
RBC’s analysis assumes that the bill passes with its current Senate-proposed provisions, which would lead to lowered demand and margin assumptions for residential solar companies like Enphase Energy. This is due to expected residential solar lease restrictions and the termination of 25D tax credits. While the Senate’s proposed revisions are seen as more favorable than the House version in some aspects, the restriction on the stacking provision is considered more restrictive by RBC.
In Q1 2025, the company showed a revenue of $356.1 million, which included $54 million of Safe Harbor revenue. ~1.53 million microinverters and 170.1 megawatt-hours of batteries were shipped in Q1. For Q2, Enphase Energy provided revenue guidance of $340 to $380 million. The company is expanding its product offerings with the launch of the fourth-generation IQ battery and the IQ9 microinverter.
Enphase Energy Inc. (NASDAQ:ENPH) designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry internationally.
10. MongoDB Inc. (NASDAQ:MDB)
Number of Hedge Fund Holders: 72
Average Upside Potential as of June 19: 34.70%
MongoDB Inc. (NASDAQ:MDB) is one of the best technology stocks according to Wall Street analysts. On June 18, Cohesity announced a significant enhancement to its data protection capabilities for MongoDB. This integration is now available for Cohesity DataProtect and aims to provide advanced performance and control for backing up and recovering MongoDB databases, particularly for large, mission-critical workloads.
The announcement positions Cohesity as one of the first data protection software providers to offer MongoDB workload protection through the official MongoDB Third Party Backup Ops Manager API. The development is crucial for global banking, financial services, and Fortune 500 enterprises that have extremely low tolerance for risk and strict resilience requirements.
The deepened integration offers improved cyber resilience, such as greater speed, with parallel data streams. This leads to MongoDB database restorations up to 4 times faster than traditional methods. The Cohesity-MongoDB integration also delivers cyber-resilient ransomware protection through immutable backups, role-based access control/RBAC, and end-to-end encryption.
MongoDB Inc. (NASDAQ:MDB) provides a general-purpose database platform worldwide. Cohesity is the leader in AI-powered data security.
9. Elastic (NYSE:ESTC)
Number of Hedge Fund Holders: 52
Average Upside Potential as of June 19: 36.04%
Elastic (NYSE:ESTC) is one of the best technology stocks according to Wall Street analysts. Earlier on June 9, KeyBanc initiated coverage of Elastic with a Sector Weight rating, but no specific price target. KeyBanc recognized Elastic as a prominent data and analytics platform with high flexibility, capable of addressing various use cases such as search, observability, and security. However, the firm also noted that Elastic’s differentiation in observability and Security Information and Event Management/SIEM is not as strong.
In FQ4 2025, the company achieved a total revenue of $388 million, which marked a 16% year-over-year growth. Subscription revenue stood at $362 million, which also showed 16% growth. Elastic Cloud revenue experienced a 23% growth. The company also saw customer growth, with customers spending over $1 million in ACV, growing by ~27% and adding 45 net new customers. Customers with over $100,000 in ACV grew by ~14%, with 180 net new customers added.
For FQ1 2026, Elastic expects revenue to be between $396 and $398 million, which is 14% year-over-year growth at the midpoint. For the full FY2026, revenue is projected to be between $1.655 and $1.67 billion, which indicates 12% growth at the midpoint. However, Elastic anticipates slower sequential cloud growth in FQ1 due to seasonal patterns and consumption headwinds.
Elastic (NYSE:ESTC) is a search AI company that provides software platforms to run in hybrid, public, or private clouds and multi-cloud environments internationally.
8. HubSpot Inc. (NYSE:HUBS)
Number of Hedge Fund Holders: 61
Average Upside Potential as of June 19: 37.75%
HubSpot Inc. (NYSE:HUBS) is one of the best technology stocks according to Wall Street analysts. Earlier on June 4, HubSpot announced the launch of its Deep Research Connector with ChatGPT, which made the company the first CRM to offer such an integration. The new connector aims to democratize advanced technology for Small and Medium-sized Businesses/SMBs by allowing them to use the customer data within ChatGPT for powerful research capabilities and analysis.
Over 250,000 businesses currently rely on HubSpot as their primary source for customer data across marketing, sales, and service, and HubSpot’s internal research shows that over 75% of its customers are already using ChatGPT. Marketers can now inquire about high-converting customer segments and generate tailored nurture sequences because of the integration. Sales teams can segment target companies by various criteria to identify top expansion opportunities.
The HubSpot Deep Research Connector is designed for ease and trustworthiness. HubSpot customers with admin controls can enable the connector within ChatGPT by selecting HubSpot as a data source and authenticating their account. Once enabled by an administrator, any user in the organization can then activate it and ask questions. A critical privacy feature is that users can only access the CRM data they are permitted to view within HubSpot, which ensures data security and adherence to existing permissions.
HubSpot Inc. (NYSE:HUBS) provides a cloud-based customer relationship management/CRM platform for businesses in the Americas, Europe, and the Asia Pacific.
7. Salesforce Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 140
Average Upside Potential as of June 19: 38.73%
Salesforce Inc. (NYSE:CRM) is one of the best technology stocks according to Wall Street analysts. On June 19, Salesforce announced an extension of its partnership with Nexstar Media Group Inc. (NASDAQ:NXST). The collaboration aims to enhance and streamline Nexstar’s local advertising sales operations and overall efficiency.
Nexstar will use Salesforce Media Cloud to manage its day-to-day sales activities and operations. This will provide its 1,600+ advertising sales personnel with near real-time visibility into campaign delivery and ad spending forecasts, which is critical given the increasing prioritization of digital platforms by advertisers.
Furthermore, Nexstar is expanding its use of other Salesforce solutions, such as CRM Analytics and Revenue Cloud, to ensure a unified platform that eliminates data silos and delivers AI-powered insights to facilitate faster and more efficient deal closures. A key component of the extended partnership is the implementation of Agentforce for Media. This platform will enable Nexstar to build and deploy AI agents that can automate various manual and time-consuming tasks.
Salesforce Inc. (NYSE:CRM) provides customer relationship management/CRM technology that connects companies and customers worldwide. Nexstar Media Group Inc. (NASDAQ:NXST) is a media company that produces and distributes local & national news, sports, and entertainment content.
6. First Solar Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 52
Average Upside Potential as of June 19: 39.21%
First Solar Inc. (NASDAQ:FSLR) is one of the best technology stocks according to Wall Street analysts. On June 18, RBC Capital reduced its price target for First Solar from $230 to $188, while maintaining an Outperform rating on the shares. The adjustment comes from the introduction of a new Senate reconciliation bill.
The proposed legislation has prompted a downward revision of clean energy estimates and price targets due to its potential impact on residential solar projects, such as the new lease restrictions and the possible termination of 25D tax credits. In First Solar’s Q1 2025 earnings, the total revenue stood at $0.8 billion, which was a $0.7 billion decrease from the previous quarter. EPS was $1.95, which fell below the lower end of guidance due to a greater portion of international sales compared to US products.
The company sold 2.9 gigawatts of modules and produced 4.0 gigawatts in Q1, consisting of 2 gigawatts of Series 6 and 2 gigawatts of Series 7 modules. As of March 31, the contracted backlog was 66.1 gigawatts, which is valued at an aggregate of $19.8 billion. First Solar was able to secure net bookings of 0.6 gigawatts at a base average selling price/ASP of $0.305 per watt, which increased the company’s contracted backlog to 66.3 gigawatts.
First Solar Inc. (NASDAQ:FSLR) is a solar technology company that provides photovoltaic solar energy solutions internationally.
5. Fiserv Inc. (NYSE:FI)
Number of Hedge Fund Holders: 72
Average Upside Potential as of June 19: 39.44%
Fiserv Inc. (NYSE:FI) is one of the best technology stocks according to Wall Street analysts. On June 18, Baird adjusted the price target for Fiserv to $225 from $250, while maintaining an Outperform rating on the shares. This revision was made as the firm updated its model in anticipation of Fiserv’s Q2 2025 results.
In Q1 2025, the company reported a revenue growth of 5% year-over-year to generate $5.13 billion, with its Merchant Solutions segment growing by 5% and Financial Solutions by 6%. EPS increased by 22% to $1.51. Fiserv affirmed its full-year 2025 outlook, expecting organic revenue growth of 10% to 12% and adjusted EPS between $10.10 and $10.30, which would represent growth of 15% to 17%.
In March, Fiserv acquired Payfare Inc., which is a Canada-based program management solutions provider for instant access to earnings, and CCV Group BV, which is a Netherlands-based point-of-sale payment solutions provider. In April, Fiserv reached agreements to acquire Pinch Payments NZ Limited, which is an Australia-based payment facilitator solutions provider, and Money Money Serviços Financeiros SA, which is a Brazil-based fintech for small businesses to access working capital.
Fiserv Inc. (NYSE:FI) provides payments and financial services technology solutions internationally. It operates through the Merchant Solutions and Financial Solutions segments.
4. Nebius Group (NASDAQ:NBIS)
Number of Hedge Fund Holders: 51
Average Upside Potential as of June 19: 39.69%
Nebius Group (NASDAQ: NBIS) is one of the best technology stocks according to Wall Street analysts. Earlier on June 11, Nebius announced the general availability of NVIDIA Corporation’s (NASDAQ:NVDA) GB200 Grace Blackwell Superchip capacity for its customers in Europe. This marked a significant step in Nebius’ mission to build a comprehensive AI infrastructure globally, accelerating AI innovation at scale.
The NVIDIA B200 capacity will be available on-demand through Nebius’s self-service platform and via NVIDIA DGX Cloud Lepton. Nebius also revealed other integrations with NVIDIA’s accelerated computing platform. This includes expanding Nebius AI Cloud with the NVIDIA AI Enterprise software stack, providing first-to-market access to NVIDIA Blackwell via NVIDIA DGX Cloud Lepton, and offering first-in-Europe access to NVIDIA Hopper GPUs through the NVIDIA Brev platform.
Additionally, Nebius plans to offer instances featuring the RTX PRO 6000 Blackwell Server Edition later in 2025. These integrations are aimed at providing European innovators, such as startups, enterprises, developers, and researchers, with the necessary tools to build, scale, and deploy the next generation of AI applications.
Nebius Group (NASDAQ:NBIS) is a technology company that builds full-stack infrastructure to service the global AI industry.
3. GitLab Inc. (NASDAQ:GTLB)
Number of Hedge Fund Holders: 52
Average Upside Potential as of June 19: 42.72%
GitLab Inc. (NASDAQ:GTLB) is one of the best technology stocks according to Wall Street analysts. Earlier on June 12, Truist adjusted the price target for GitLab to $75 from $80, while maintaining a Buy rating on the shares. This revision comes after GitLab’s Q1 2025 results, which, although exceeding guidance, did not meet investor expectations for a larger beat.
In Q1, the company reported a total revenue of $169.2 million, which marked a 33% increase year-over-year. GitLab also generated positive cash flow for the first time in a first quarter. The subscription revenue from self-managed and SaaS grew to $151.179 million from $111.191 million year-over-year, and license revenue from self-managed and other increased to $18.008 million from $15.687 million.
The company’s customer base also expanded, with customers contributing over $5,000 of ARR, reaching 8,976, which showed a 21% increase year-over-year. Customers with over $100,000 of ARR grew by 35% year-over-year, totaling 1,025. In this quarter, GitLab also received the 2024 Google Cloud Technology Partner of the Year Award in the Application Development – DevOps category.
GitLab Inc. (NASDAQ:GTLB) develops software for the software development lifecycle in the US, Europe, and the Asia Pacific.
2. Wix.com Ltd. (NASDAQ:WIX)
Number of Hedge Fund Holders: 50
Average Upside Potential as of June 19: 45.11%
Wix.com Ltd. (NASDAQ:WIX) is one of the best technology stocks according to Wall Street analysts. On June 18, Wix.com announced its acquisition of Base44. The acquisition aims to expand Wix’s AI portfolio and its suite of intelligent solutions to empower a range of users to build and grow their online presence.
The deal involves an initial payment of ~$80 million from Wix, along with additional earn-out payments through 2029 that are contingent on certain performance metrics. While the acquisition is not expected to impact Wix’s 2025 revenue or bookings, Wix plans to allocate ~$25 million for retention bonuses to the Base44 team in 2025 to ensure continuity and integration of their expertise.
Base44’s platform features a fully automated and chat-based interface that manages backend technical details like databases, authentication, and deployment. This eliminates the need for third-party integrations or manual setup. The company has already demonstrated market traction through B2B partnerships with companies like eToro and SimilarWeb.
Wix.com Ltd. (NASDAQ:WIX) operates a cloud-based web development platform for registered users and creators worldwide. Base44 is an AI-powered platform for creating fully functional, custom software solutions and applications using natural language, without the need for traditional coding.
1. Clearwater Analytics Holdings Inc. (NYSE:CWAN)
Number of Hedge Fund Holders: 41
Average Upside Potential as of June 19: 60.55%
Clearwater Analytics Holdings Inc. (NYSE:CWAN) is one of the best technology stocks according to Wall Street analysts. Earlier on June 11, Oppenheimer analyst Brian Schwartz adjusted the price target for Clearwater Analytics to $36 from $40, while maintaining an Outperform rating on the shares. This revision was made due to group multiples compression in the market.
In Q1 2025, Clearwater Analytics’ revenue reached $126.9 million, which was a 23.5% year-over-year increase. ARR grew by 22.7% to $493.9 million. The company maintains a high client retention rate with a gross revenue retention rate of 98% and a net revenue retention rate of 114%, although the latter saw a slight decrease from 116% in the previous quarter. Despite the lowered price target, Oppenheimer is confident in the company’s profitable growth strategy, paired with its recent acquisitions.
The acquisition of Enfusion, valued at ~$1.5 billion, was finalized on April 21 and added a market-leading front-office platform for hedge funds and asset managers. The acquisition of Beacon, completed on April 30 for ~$560 million, enhanced cross-asset trading and risk management capabilities. Additionally, Blackstone’s Bistro platform was acquired for ~$125 million on March 31 and brought private credit assets data visualization.
Clearwater Analytics Holdings Inc. (NYSE:CWAN) develops and provides a SaaS solution for automated investment data aggregation, reconciliation, accounting, and reporting services for insurers, investment managers, corporations, institutional investors, and government entities.
While we acknowledge the potential of CWAN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CWAN and that has 100x upside potential, check out our report about the cheapest AI stock.
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Disclosure: None.
