Quantcast
2 Tech Stocks Under $10 To Buy Now

2 Tech Stocks Under $10 To Buy Now

Posted On July 28, 2022 1:22 pm
By:

The Federal Reserve’s aggressive interest rate hikes to tame the soaring inflation has prompted recession fears among investors. As a result, the interest-rate-sensitive technology industry has witnessed massive sell-offs lately. The tech-heavy Nasdaq Composite lost 26% year-to-date.

The central bank is expected to keep raising interest rates this year, keeping tech stocks under pressure. However, given the strong demand for tech products and solutions and the consistent breakthroughs, the industry should rebound soon.

The tech sell-off has led to some quality stocks trading at attractive valuations. Fundamentally strong tech stocks Audacy, Inc. (AUD) and Celestica Inc. (CLS) are currently trading below $10. Given the solid rebound potential, it could be wise to scoop up these stocks now.

Audacy, Inc. (AUD)

AUD is a media and entertainment company. It creates live, original, local, premium audio content and operates news and sports radio. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms.

AUD’s net revenues increased 14.3% year-over-year to $275.30 million for the first quarter ended March 31, 2022. Its operating income improved 203.4% year-over-year to $8.50 million. The company’s adjusted EBITDA increased 152.2% year-over-year to $25.96 million.

Analysts expect AUD’s EPS and revenue for the fiscal second quarter (ended June 2022) to increase 333.3% and 6.3% to $0.04 and $323.53 million, respectively. Over the past year, the stock has lost 83% to close the last trading session at $0.62.

AUD’s POWR Ratings reflect solid prospects. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.

3 STOCKS TO DOUBLE THIS YEAR

It has a B grade for Growth and is ranked #11 out of 12 stocks in the Entertainment – Broadcasters industry. Click here to see the other ratings of AUD for Value, Momentum, Stability, Sentiment, and Quality.

Celestica Inc. (CLS)

Headquartered in Toronto, Canada, CLS is a hardware platform and supply chain solutions provider in North America, Europe, and Asia. It operates through two segments Advanced Technology Solutions; and Connectivity & Cloud Solutions.

CLS’ revenue increased 27% year-over-year to $1.57 billion in the first quarter ended March 31, 2022. Its earnings from operations grew 71.3% from the year-ago value to $40.60 million, while its net earnings for the period improved 107.6% year-over-year to $21.80 million. Its EPS increased 112.5% from its year-ago value to $0.17.

CLS’ EPS for the fiscal quarter ending September 2022 is expected to increase 25% year-over-year to $0.44. The consensus revenue estimate of $1.70 billion for the same period represents a 15.7% increase year-over-year. The company surpassed the consensus EPS estimates in each of the trailing four quarters.

CLS has gained 33.2% over the past year to close the last trading session at…

Continue reading at STOCKNEWS.com

About author