Penny Stocks: 3 Cheap Tech Stocks with Big Growth

Posted On November 24, 2017 10:10 pm

Investing in tech stocks has become trickier because of lofty valuations and uncertainty. Almost every renowned tech stock is very expensive, and beyond the reach of investors who don’t have significant capital to invest. That’s why technology penny stocks are the best option to go for if you want to invest in technology stocks with less risk. Here are some of the best technology penny stocks to buy right now if you want to get big gains in 2018.

Zix Corporation (NASDAQ:ZIXI)

Zix Corporation (NASDAQ:ZIXI) is a Texas-based company that provides solutions and products for mail encryption, data loss prevention and bring-your-own-device (BYOD) security. The company is operating in an industry whose market value is expected to reach over $231.9 billion. Zix sales have increased by 65% over the last 5 years.

Earlier this month, Zix provided Q4 earnings guidance of $0.08 per share, in line with the analysts’ estimate. In the third quarter, Zix’s revenue came in at $16.6 million, which shows an increase of 8% year-over-year. Zix email and data security products are getting a lot of traction. In the third quarter, ZixProtect and ZixArchive customer count increased by 25%.

Glu Mobile Inc. (NASDAQ:GLUU)

Glu Mobile Inc. (NASDAQ:GLUU) is one of the hottest technology stocks right now. The stock has soared more than 120% since the start of 2017. Glu Mobile is a San Francisco-based company that makes mobile games. Glu Mobile is the maker of several hit games, including celebrity-based games like Kim Kardashian: Hollywood, Restaurant Dash: Gordon Ramsay and The Swift Life, which features a Taylor Swift theme.

Glu Mobile is becoming a market leader in addictive mobile games industry. According to an estimate, global smartphone gaming revenues are expected to grow at a CAGR of 6.2% through 2020.

Plug Power Inc (NASDAQ:PLUG)

Plug Power Inc (NASDAQ:PLUG) is a highly attractive technology penny stock to buy right now. The stock has almost doubled in value since the start of this year. The New York-based company designs and manufactures hydrogen fuel cell systems which are rapidly replacing conventional batteries in cars and machines.

Investment firm B. Riley reiterated its “Buy” rating for Plug Power stock and gave a price target of $3.50 earlier this month. Plug Power has struck several lucrative deals with big names over the last few years. The company is working with Amazon, Walmart, Carrefour and Newark Farmers Market. FedEx is also using Plug Power’s ProGen fuel cell engines. Earlier this year, Plug Power shares skyrocketed after Amazon announced a deal with the company to use their fuel cells for its warehouses.

 Related: This Company Has Major Growth in the Cybersecurity Market

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