5 Best Tech Stocks To Buy Right Now Under $10

In this article, we will be taking a look at the 5 best tech stocks to buy right now under $10. To read our detailed analysis of the tech industry in 2023, you can go directly to see the 10 Best Tech Stocks To Buy Right Now Under $10.

5. Yext, Inc. (NYSE:YEXT)

Number of Hedge Fund Holders: 28

Share Price as of July 25: $9.42

Yext, Inc. (NYSE:YEXT) is an information technology company operating a cloud-based platform to provide answers to consumer questions about their businesses. The company is based in New York.

Rohit Kulkarni at Roth MKM upgraded Yext, Inc. (NYSE:YEXT) shares from Neutral to Buy on June 7, alongside raising his price target on the stock from $8.50 to $12.50.

There were 28 hedge funds long Yext, Inc. (NYSE:YEXT) in the first quarter, with a total stake value of $233 million.

4. indie Semiconductor, Inc. (NASDAQ:INDI)

Number of Hedge Fund Holders: 30

Share Price as of July 25: $9.20

indie Semiconductor, Inc. (NASDAQ:INDI) is another semiconductor company on our list. It provides automotive semiconductors and software solutions.

indie Semiconductor, Inc. (NASDAQ:INDI) had 30 hedge funds long its stock in the first quarter, with a total stake value of $175.2 million.

A Buy rating was reiterated on indie Semiconductor, Inc. (NASDAQ:INDI) by Cody Acree at Benchmark on June 30, alongside a $17 price target.

Here’s what Baron Funds said about indie Semiconductor, Inc. (NASDAQ:INDI) in its first-quarter 2023 investor letter:

“indie Semiconductor, Inc. (NASDAQ:INDI) is a designer, developer, and marketer of automotive semiconductors for advanced driver assistance systems (ADAS) as well as connected car, user experience, and electrification applications. Shares rose during the quarter after the company announced the acquisition of GEO Semiconductor and met or exceeded revenue and gross margin guidance for the seventh straight quarter since coming public. After raising capital in late 2022 to fund acquisition activity – we increased our position size when the stock traded down on this convertible bond deal – early this year indie announced its buyout of GEO Semiconductor for up to $270 million (including potential earnouts), to round out its ADAS sensor portfolio with a leader in camera processing technology. We find GEO Semiconductor to be a synergistic acquisition that accelerates indie’s growth and margin trajectory. The automotive semiconductor vertical remains attractive. We believe indie will continue to deliver on its targeted model of profitability in the second half of 2023, achieving 60% gross margins and 30% operating margins by 2025. We also project indie continues to rapidly increase revenue, as it fulfills its $4.2 billion, and growing, strategic backlog.”

3. Eventbrite, Inc. (NYSE:EB)

Number of Hedge Fund Holders: 30

Share Price as of July 25: $9.86

Benjamin Swinburne at Morgan Stanley holds an Equal Weight rating on Eventbrite, Inc. (NYSE:EB) as of July 21, alongside a price target of $10.

At the end of the first quarter, 30 hedge funds were long Eventbrite, Inc. (NYSE:EB). Their total stake value was $210.9 million.

Eventbrite, Inc. (NYSE:EB) is an interactive media and services company operating a self-service ticketing and experience tech platform serving event creators. It is based in San Francisco, California.

2. Alight Inc. (NYSE:ALIT)

Number of Hedge Fund Holders: 41

Share Price as of July 25: $9.83

A total of 41 hedge funds held stakes in Alight Inc. (NYSE:ALIT) in the first quarter, with a total stake value of $946.7 million.

Alight Inc. (NYSE:ALIT) is a provider of cloud-based integrated digital human capital and business solutions. It is based in Lincolnshire, Illinois.

Peter Christiansen at Citigroup initiated coverage on Alight Inc. (NYSE:ALIT) on June 13 with a Buy rating and a $12 price target.

This is what Polen Capital said about Alight Inc. (NYSE:ALIT) in its first-quarter 2023 investor letter:

“New additions to the portfolio included Alight, Inc. (NYSE:ALIT) and DocGo. Alight is a leading cloud-based provider of employee engagement tools and solutions for workplace benefits, payroll, administration, and wealth services. Alight was founded 25 years ago, and, in keeping with the flywheel, has a long history of consistently growing recurring revenue. Over the past several years, Alight has deployed capital towards several value-add acquisitions and towards developing a technology platform for what they call “business process as a service” or “BPaaS”. This has only furthered Alight’s unique positioning and opened up significant growth opportunities.To give a sense for their scale, they serve 15% of the US workforce and their solutions can be found in 50% of Fortune 500 companies. Alight’s human capital BPaaS solutions combine Software as a Service (“SaaS”) capabilities, artificial intelligence, automation, and data analytics to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. We expect Alight to drive consistent growth on the back of upsell/cross-sell opportunities with existing clients, as well as from new customer wins, international expansion and M&A.”

1. Clarivate Plc (NYSE:CLVT)

Number of Hedge Fund Holders: 45

Share Price as of July 25: $9.55

In total, 45 hedge funds were long Clarivate Plc (NYSE:CLVT) in the first quarter. Their total stake value was $2.6 billion.

Oppenheimer analyst Owen Lau maintains an Outperform rating on Clarivate Plc (NYSE:CLVT) shares as of July 5, alongside a $12 price target.

Clarivate Plc (NYSE:CLVT) is an information, analytics, and workflow company based in London, United Kingdom. It offers subscription and tech-based solutions, among more.

Baron Funds made the following comment about Clarivate Plc (NYSE:CLVT) in its first-quarter 2023 investor letter:

“We added to our position in Clarivate Plc (NYSE:CLVT), a leading global information services provider that serves customers across academia and government, life sciences & health care, and intellectual property. Clarivate goes to market with a collection of well-known brands, including Web of Science, ProQuest One, Alma, Cortellis, Derwent, and CompuMark.

Clarivate has an attractive business model. The company’s foundation is its highly valuable proprietary data assets (#1 or #2 player in most markets) that are combined with analytical tools and insights to help users apply the underlying data to everyday business problems. As an important part of the end users’ daily workflow, Clarivate’s indispensable, mission-critical solutions create a sticky and predictable business model with high levels of recurring revenue (about 80% recurring revenue and over 90% renewal rates). Clarivate has strong operating leverage (“build it once, sell it many times”) and should be able to sustain adjusted EBITDA margins in the low to mid-40% range…” (Click here to read the full text)

See also 10 Tech Stocks Benefiting From The AI Boom and Top 20 Most Profitable Tech Companies in the World.