Top 5 Undervalued Tech Stocks According to Wall Street Analysts

In this piece, we will take a look at the top five undervalued technology stocks according to Wall Street analysts. If you want to take a look at the latest in the technology sector then check out Top 12 Undervalued Tech Stocks According to Wall Street Analysts.

5. Ubiquiti Inc. (NYSE:UI)

Share Price Upside: 74.88%

Ubiquiti Inc. (NYSE:UI) is a communications technology company headquartered in New York City. It provides products and services to broadband companies to enable them to run and manage their networks. The stock has seen little love from analysts lately since its average rating is Hold. The shares are down 37.82% year to date, and the stock price upside is 74.88% based on the analyst average share price target is $294.

15 of the 943 hedge funds part of Insider Monkey’s research had owned Ubiquiti Inc. (NYSE:UI)’s shares in Q1 2023.

4. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Share Price Upside: 76.05%

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is an Israeli solar technology company based in Herzliya. It provides a variety of different products such as solar inverters, optimizers, and energy management systems. The firm had a strong second quarter, as it managed to beat analyst EPS estimates. The stock is rated Buy on average, and Truist, Bank of America, and Goldman Sachs reiterated Buy ratings for the shares in August.

As of March 2023, 14 of the 943 hedge funds polled by Insider Monkey had held a stake in the company. Out of these, SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s largest investor is D. E. Shaw’s D E Shaw since it owns 895,709 shares that are worth $272 million.

3. Aviat Networks, Inc. (NASDAQ:AVNW)

Share Price Upside: 85.38%

Aviat Networks, Inc. (NASDAQ:AVNW) is a networking products provider that sells products to large scale users. The stock is rated Buy on average, with no lower ratings than that. It also has a $55.67 average analyst share price target.

During 2023’s first quarter, 14 of the 943 hedge funds part of Insider Monkey’s database held Aviat Networks, Inc. (NASDAQ:AVNW)’s shares. Out of these, the firm’s largest shareholder is Chuck Royce’s Royce & Associates through an investment of $19.2 million.

2. Calix, Inc. (NYSE:CALX)

Share Price Upside: 86.69%

Calix, Inc. (NYSE:CALX) is a cloud company that provides broadband firms with a customer management platform. Rosenblatt and Needham reiterated Buy share ratings in July and the stock has an 86.69% upside.

28 of the 943 hedge funds surveyed by Insider Monkey had invested in the firm during Q1 2023. Calix, Inc. (NYSE:CALX)’s largest shareholder is Jim Simons’ Renaissance Technologies with a $45.5 million stake.

1. Nuvei Corporation (NASDAQ:NVEI)

Share Price Upside: 158.88%

Nuvei Corporation (NASDAQ:NVEI) is a Canadian payment platform provider that works primarily with businesses. Its average share price target is $44.89, but the firm has seen several analyst share price target reductions in August. These came after the firm’s second quarter earnings which saw profit drop significantly due to financing charges.

As of March 2023, 12 of the 943 hedge funds surveyed by Insider Monkey had invested in Nuvei Corporation (NASDAQ:NVEI).

Disclosure: None. You can also take a look at 10 Oversold NASDAQ Stocks to Buy and 10 Best Stocks to Buy for High Returns.

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