5 Most Promising Tech Stocks According to Analysts

In this piece, we will take a look at the five most promising tech stocks according to analysts. If you want to learn about potential high growth tech sectors apart from A.I., then check out 13 Most Promising Tech Stocks According to Analysts.

5. Wallbox N.V. (NYSE:WBX)

Latest Average Analyst Share Price Target: $3.49

Latest Share Price Percentage Upside: 88.65%

Wallbox N.V. (NYSE:WBX) is a Spanish company that sells power management and storage systems. A broader slowdown in the renewable energy industry seemed to catch up with the firm in September 2023 when UBS downgraded its shares to Neutral from Buy and adjusted the share price target to $3 from an earlier $5.

Insider Monkey’s third quarter of 2023 survey covering 910 hedge funds revealed that three had held a stake in Wallbox N.V. (NYSE:WBX). Robert Charles Gibbins’s Autonomy Capital was the biggest investor out of these as it owned $395,217 worth of shares.

4. GDS Holdings Limited (NASDAQ:GDS)

Latest Average Analyst Share Price Target: $17.22

Latest Share Price Percentage Upside: 100%

GDS Holdings Limited (NASDAQ:GDS) is a Chinese data center services provider and operator headquartered in Shanghai, China. Despite being an affordable stock at $8.61, the firm’s shares are rated Buy on average and the average share price target of $17.22 prices in a nice 100% upside over a share price of $8.61.

As of September 2023 end, 14 out of the 910 hedge funds profiled by Insider Monkey were the firm’s shareholders. GDS Holdings Limited (NASDAQ:GDS)’s largest hedge fund shareholder is Joel Ramin’s 12 West Capital Management due to its $55.5 million investment.

3. Aehr Test Systems (NASDAQ:AEHR)

Latest Average Analyst Share Price Target: $60

Latest Share Price Percentage Upside: 112.77%

Aehr Test Systems (NASDAQ:AEHR) is the first company on our list that operates in the high growth semiconductor sector. It’s a relatively small firm, and the only 12 month price target for the firm is $60 which was set by William Blair in October 2022 along with an Outperform rating.

By the end of 2023’s third quarter, 13 out of the 910 hedge funds covered by Insider Monkey’s research had bought and owned Aehr Test Systems (NASDAQ:AEHR)’s shares. Richard Driehaus’s Driehaus Capital was the biggest investor courtesy of its $66.3 million stake.

2. SoundHound AI, Inc. (NASDAQ:SOUN)

Latest Average Analyst Share Price Target: $4.52

Latest Share Price Percentage Upside: 118.36%

SoundHound AI, Inc. (NASDAQ:SOUN) is a California based technology company that enables businesses to utilize voice assistants. December 2023 was a busy month for the firm as it expanded its product portfolio by buying a firm that provides voice assistants to restaurants.

By the end of this year’s September quarter, ten out of the 910 hedge funds surveyed by Insider Monkey had invested in SoundHound AI, Inc. (NASDAQ:SOUN).

1. AST SpaceMobile, Inc. (NASDAQ:ASTS)

Latest Average Analyst Share Price Target: $17.67

Latest Share Price Percentage Upside: 191.10%

AST SpaceMobile, Inc. (NASDAQ:ASTS) is an American company that provides space based telecommunications backhaul to provide coverage to people that lie out of typical cell phone tower coverage. November 2023 was a busy month for the firm since it was the first after October 2023 when its shares saw some analyst coverage. This came in the form of Deutsche Bank maintaining a Buy rating on the stock and upgraded the shares to $32 from $30.

During Q3 2023, nine out of the 910 hedge funds profiled by Insider Monkey had held a stake in the company. AST SpaceMobile, Inc. (NASDAQ:ASTS)’s largest shareholder among these is Sander Gerber’s Hudson Bay Capital Management through its $3.9 million investment.

Disclosure: None. You can also take a look at 11 Best Technology Dividend Stocks To Buy and 12 Most Promising Gene Editing Stocks According to Hedge Funds