5 Best Tech Growth Stocks to Buy Right Now

3. Square, Inc. (NYSE: SQ)

P/E Ratio: 263.27

Square Inc is a financial technology firm founded in 2009 by Twitter founder Mr. Jack Dorsey and billionaire Mr. Jim McKelvey. Since its inception, the company has grown to be one of the biggest payments firms in terms of revenue, as it displaces well-established players in the sector such as Visa. Square is known primarily for hardware products, such as the Square Reader and the Square Stand, which allow gadgets such as smartphones and tablets to engage in financial transactions. It also has a software application called CashApp which allows individuals and businesses to transfer cash to each other.

Its successful targeting of the growing financial technology sector and the move to cryptocurrency have rewarded Square with momentous share price growth. Square’s shares closed at $34.67 in 2017 and its closing price on Thursday, August 26 2021, was $262.16 making for 656% growth in three years. The share price, combined with the company’s earnings, results in a P/E ratio of 263.27.