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Three tech stocks saw their quarterly revenue and net income improve significantly on a year-over-year basis, drawing the interest of growth-oriented investors.
Furthermore, sell-side analysts on Wall Street have recommended positive ratings for these companies, indicating the share prices should move higher over the next several months.
Sensata Technologies
The first stock that meets the criteria is Sensata Technologies Holding PLC (NYSE:ST), an Attleboro, Massachusetts-based manufacturer of pressure sensors for the automotive, heavy vehicle and off-road industries as well as original equipment manufacturers. The company also manufactures application-specific sensor and control products for the aerospace market and various other industrial markets.
Sensata Technologies saw its quarterly revenue increase by 21.7% year over year to $942.53 million as of March 31, up from $774.27 million a year ago.
The company recorded a net income of $53.73 million for the quarter, being 6.4 times higher than the net income of $8.43 million for the prior-year quarter.
The stock price was trading at $58.26 per share at close on July 2 following a 57.37% increase over the past year, for a market capitalization of $9.21 billion and a 52-week range of $35.62 to $64.8.
Sensata Technologies does not pay dividends.
GuruFocus assigned a score of 4 out of 10 to the company’s financial strength and of 7 out of 10 to its profitability.
On Wall Street, the stock has a median recommendation rating of overweight and an average target price of $69.79 per share.
Cricut
The second stock that qualifies is Cricut Inc. (NASDAQ:CRCT), a South Jordan, Utah-based provider of connected machines, design apps, heat transfer systems and materials to create personalized birthday cards, mugs, T-shirts and various decorations. The company serves U.S., European and international customers through an online store.
Cricut saw its quarterly revenue increase by 125.3% year over year to about $323.82 million as of the March 2021 quarter, up from $143.72 million in the prior-year quarter.
Cricut recorded net income of $49.42 million for the quarter, growing 3.8-fold from net income of $13.04 million for the prior-year quarter.
The stock was trading at $35.08 per share at close on July 2 after a 97.1% increase that occurred over the past year, determining a market capitalization of $7.79 billion and a 52-week range of $14.88 to $47.36.
Cricut does not pay dividends.
GuruFocus assigned a score of 8 out of 10 to the company’s financial strength and of 4 out of 10 to its profitability.
On Wall Street as of June, the stock has 2 strong buys and 3 buy recommendation ratings for an average target price of about $34 per share.
Globant
The third company is Globant SA (NYSE:GLOB), a Luxembourg-based application software provider serving several industries, including media and entertainment, technology and telecommunications, professional services, health care, banks, insurance and retail.
Globant has recorded revenue of $270.17 million for the March quarter, which represented a 41% increase from $191.57 million recorded in the same quarter of 2020.
The net income was $21.7 million in the quarter in question, increasing 64.4% from the net income of $13.2 million in the analogous quarter of the year before.
The stock was trading at around $216.11 per share at close on July 2 after it jumped nearly 39% over the prior 12 months, determining a market capitalization of $8.90 billion and a 52-week range of $148.74 to $244.72.
Globant does not pay dividends.
GuruFocus assigned a score of 7 out of 10 for both the company’s financial strength rating and its profitability rating.
On Wall Street, the stock has a median recommendation rating of overweight with an average target price of $237.40 per share.
Brooks Automation
The fourth stock that makes the cut is Brooks Automation Inc. (NASDAQ:BRKS), a Chelmsford, Massachusetts-based provider of wafer automation and contamination controls solutions and services as well as gene sequencing and gene synthesis services. The company also offers automated cold storage systems and instruments used for labeling. The company serves semiconductor capital equipment and life sciences sample management markets in North America and internationally.
Brooks Automation saw its quarterly revenue rise by more than 30% year over year, reaching $286.59 million for the March quarter, up from $220.23 million in the prior-year quarter.
Brooks Automation posted net income of $23.75 million for the quarter, increasing 2.6-fold from the net income of $9.13 million for the prior-year quarter.
The stock traded at $91.71 per share at close on July 2 thanks to a 105.3% increase that happened over the past year, determining a market capitalization of $6.81 billion and a 52-week range of $42.65 to $108.72.
Brooks Automation currently pays quarterly dividends. On June 25, the company distributed 10 cents per common share for a trailing 12-month and forward dividend yield of 0.44% as of July 2.
GuruFocus assigned a score of 8 out of 10 to the company’s financial strength rating and of 6 out of 10 to its profitability rating.
On Wall Street as of June, the stock has a median recommendation rating of overweight with an average target price of $112.86 per share.
This article first appeared on GuruFocus.