In this article, we will take a look at the 5 best tech stocks to buy under $10. If you want to see our detailed analysis of the technology sector, go directly to the 10 Best Tech Stocks to Buy Under $10.
5. BlackBerry Inc. (NYSE:BB)
Number of Hedge Fund Holders: 20
Stock Price as of October 2: $9.70
BlackBerry Limited (NYSE:BB) is a cybersecurity company based in Waterloo, Canada. Ranked fifth on the list of the 10 best tech stocks to buy under $10, the company provides security software that make use of artificial intelligence and machine learning against cyberthreats.
The company reported revenues of $266 million in its earnings report for the second quarter of 2021, which beat estimates by $26.26 million. The earnings per share was reported to be $0.11, surpassing estimates for the quarter by $0.09.
At the end of the second quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth more than $732 million in BlackBerry Limited (NYSE:BB). This is compared to 24 hedge funds in the previous quarter that held stakes amounting to approximately $499.7 million.
On September 23, TD Securities analyst Daniel Chan raised his price target on BlackBerry Limited (NYSE:BB) to $9 from $8.50 and kept a Reduce rating on the shares after the company released its second quarter report.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment fund Kahn Brothers is a leading shareholder of BlackBerry Limited (NYSE:BB), with over 1.76 million shares worth $21.54 billion.
4. Infinera Corporation (NASDAQ:INFN)
Number of Hedge Fund Holders: 21
Stock Price as of October 2: $8.38
Infinera Corporation (NASDAQ:INFN) is a California-based telecommunications equipment company. Ranked fourth on the list of the 10 best tech stocks to buy under $10, Infinera Corporation (NASDAQ:INFN) manufactures optical transmission equipment and IP transport technologies.
The company issued its quarterly earnings report for the second quarter of 2021 on August 3, with reported earnings per share at -$0.03, crossing estimates by $0.02. On the other hand, the revenues reported to be $338.23 million, missed estimates by $6.65 million.
At the end of the second quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth more than $428 million in Infinera Corporation (NASDAQ:INFN). This is compared to 20 hedge funds in the previous quarter that held stakes amounting to approximately $372 million.
Earlier this September, MKM Partners analyst Michael Genovese kept a Neutral rating on Infinera Corporation (NASDAQ:INFN) alongside a price target of $9.00.
3. Conduent Incorporated (NASDAQ:CNDT)
Number of Hedge Fund Holders: 23
Stock Price as of October 2: $6.83
Conduent Incorporated (NASDAQ:CNDT) is a business services provider company based in New Jersey that provides digital platforms for businesses. Ranked third on the list of the 10 best tech stocks to buy under $10, Conduent Incorporated (NASDAQ:CNDT) has a market capitalization of $1.45 billion.
At the end of the second quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth more than $386.8 million in Conduent Incorporated (NASDAQ:CNDT). This is compared to 22 hedge funds in the preceding quarter that held stakes amounting to approximately $361 million.
On August 5, the company released its earnings report for the second quarter of 2021. The declared EPS came in at $0.17, surpassing market predictions by $0.03. The declared revenues were $1.03 billion, missing the consensus estimated revenues by $2.50 million.
On August 17, JPMorgan analyst Puneet Jain raised his price target on Conduent Incorporated (NASDAQ:CNDT)to $9 from $8 and kept a Neutral rating on the shares.
In its Q2 investor letter, Curreen Capital commented on the attractive sales growth and turnaround by Conduent Incorporated (NASDAQ:CNDT). Here is what the fund said:
“Conduent is a business process services company. It handles transaction intensive processing for government and commercial customers. After years of weak sales, declining profits, conflict with its largest shareholder (Carl Icahn), and the loss of its CEO – the company is turning around. Conduent’s new CEO is addressing the company’s key problems and is driving sales growth. Conduent currently trades at an extremely attractive upside-to-downside ratio.”
2. Sirius XM Holdings Inc. (NASDAQ:SIRI)
Number of Hedge Fund Holders: 24
Stock Price as of October 2: $6.00
Based in New York, Sirius XM Holdings Inc. (NASDAQ:SIRI) is a broadcasting company that engages in the provision of satellite radio and online radio services throughout the United States. The company comes in at second on our list of the 10 best tech stocks to buy under $10.
On July 29, Pivotal Research analyst Jeffrey Wlodarczak raised his price target on Sirius XM Holdings Inc. (NASDAQ:SIRI) to $8.25 from $7.75, and kept a Buy rating on the shares of the company.
On July 27, the company posted earnings for the second quarter of 2021, reporting earnings per share of $0.10, beating market predictions by $0.03. The revenue over the period was more than $2.16 billion, up 15.21% on a year-on-year basis, surpassing estimates by $95.26 million.
At the end of the second quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth more than $577 million in Sirius XM Holdings (NASDAQ:SIRI). This is compared to 24 hedge funds in the preceding quarter that held stakes amounting to approximately $570 million.
Out of the hedge funds being tracked by Insider Monkey, Warren Buffett’s investment firm Berkshire Hathaway is a leading shareholder in Sirius XM Holdings Inc. (NASDAQ: SIRI) with 43.6 million shares worth more than $285.5 million.
1. Nokia Corporation (NYSE:NOK)
Number of Hedge Fund Holders: 26
Stock Price as of October 2: $5.46
Nokia Corporation (NYSE:NOK) is a Finland-based multinational consumer electronics manufacturer. Specializing in telecommunications, information technology, and electronics, the company has a market capitalization of $31.55 billion, and ranks first on our list of the 10 best tech stocks to buy under $10.
In the second quarter of 2021, Nokia Corporation (NYSE:NOK) reported earnings per share of $0.11, beating the estimated EPS by $0.05.
At the end of the second quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth more than $494.3 million in Nokia Corporation (NYSE:NOK). This is compared to 21 hedge funds in the preceding quarter that held stakes amounting to approximately $352.9 million.
On August 3, Societe Generale analyst Aleksander Peterc raised his price target of Nokia Corporation (NYSE:NOK) to $7.81 from $6.27, and kept a Buy rating on the stock.
You can also take a peek at 10 Best Biotech Stocks Under $10 and 10 Best Automotive Stocks to Invest in Now.
