Top 10 Best Performing Tech Stocks of 2022

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In this article, we talk about the 10 most sensible tech stocks of 2022. If you need to see more stocks in the industry, check out the five tech stocks in 2022.

McKinsey’s Aug. 24 report identifies several generation trends for the future, separating its assessment into two thematic teams: Silicon Age, which deals with virtual and computing technologies, and Engineering Tomorrow, which considers physical technologies in regions such as energy and mobility. McKinsey considers implemented AI, complex connectivity, bioengineering, Web3, device learning, immersive truth technologies, complex and cloud computing, trusted architectures and virtual identity, area technologies, quantum technologies and the progression of next-generation software as generation trends in the coming years.

Emerging markets are loading more uncooked fabrics and employing cutting-edge technologies in their quest to add more production and industry contracts. This bodes well for tech companies, who want to look at the long term with a spirit of expansion to navigate the market. and gain market share. The COVID-19 pandemic has made it clear that generation will continue to be an indispensable component of business. Companies want to provide users with unique, customer-centric experiences. Otherwise, they will lose in the long run. run. The road to a successful virtual transformation requires capital investment and the improvement of the generation ecosystem, which will lead to the prosperity of generation companies.

The U. S. Generation Market OutlookForrester for 2022 has indicated an increase in generation spending since the beginning of the COVID-19 pandemic. Forrester’s latest budget survey showed that 67% of IT professionals in the U. S. The U. S. Food and Drug Administration expects generation budgets to increase over the next year. , with 26% of respondents saying their spending on generation will accrue by more than five%.

Tech stocks have been beaten in 2022 amid the market sell-off and the significant shift from expansion stocks to price stocks, and even the biggest players like Apple Inc. (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT) and Amazon. com, Inc. (NASDAQ:AMZN) were not immune to bloodshed. However, in this article, we talk about some of the active tech stocks of 2022.

Photo via Austin Distel on Unsplash

Our Methodology

We have opted for generation stocks that have registered notable gains since the beginning of the year in the percentage value as of September 15. We refrained from opting for regular stocks and penny generating stocks in this selection.

Hedge fund sentiment around securities assessed from Insider Monkey’s 2022 quarter database of approximately 900 elite hedge funds. We rank the list according to the number of hedge fund holders, from lowest to highest.

Number of hedge fund holders: 10

Year-to-date percentage value gain to September 15: 30. 08%

EVO Payments, Inc. (NASDAQ: EVOP) is a Georgia-based company that operates as a incorporated payment processor in the Americas and Europe. Inventory has gained about 30% year-to-date through Sept. 15, which is adding to our list of high-performing technology inventories for 2022.

On August 16, BTIG analyst Mark Palmer downgraded EVO Payments, Inc. (NASDAQ:EVOP) to Buy Neutral after the company agreed to be acquired through Global Payments Inc. (NYSE:GPN) for $34, consistent with a percentage consisting of a $4 billion investment. transaction. The valuation of the consistent percentages implied through the agreement is fair and other offerings to EVO Payments, Inc. (NASDAQ: EVOP) are going to happen, the analyst said.

From the hedging budget tracked through Insider Monkey, 10 budgets were optimistic at EVO Payments, Inc. (NASDAQ:EVOP) at the end of the current quarter of 2022, with a total share value of $86. 5 million, to 12 budgets in the last quarter of $84. 8 million. Joe Milano’s Greenhouse Funds is the largest position holder in the company, with approximately 3 million shares valued at $68. 6 million.

While Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon. com, Inc. (NASDAQ:AMZN) remain potential popular options among investors, EVO Payments, Inc. (NASDAQ:EVOP) is one of the best-performing generation stocks to be considered as a balanced portfolio.

Here’s what Artisan Small Cap Fund has to say about EVO Payments, Inc. (NASDAQ: EVOP) in its letter to investors for the third quarter of 2021:

“We have reduced our positions in EVO Payments. EVO Payments provides the necessary distribution and generation through emerging market banks and software providers to process electronic invoices. Corporate target markets where card bill penetration is low and regulations are pushing to reduce money bills. In addition, it partners with leading local banks with established business relationships for the purpose of expanding commercial acceptance through the implementation of EVO generation and distribution methodologies. When we did our investment campaign, we believed that the company’s exposure to those markets would allow it to expand. it has been successful and, as it grows, it expands its margins against its peers. The opportunity for profit expansion did not materialize and the margin expansion thesis ran its course. As a result, we have reaped our position.

Number of hedge fund holders: 11

Year-to-date percentage value gain to September 15: 106. 8%

Bel Fuse Inc. (NASDAQ:BELFB) is a New Jersey-based company that designs, manufactures and sells for networking, telecommunications, high-speed knowledge transmission, aerospace advertising, military, broadcasting, transportation and electronics for customers in various industries. the United States, Macau, the United Kingdom, Slovakia, Germany and Switzerland. As of Sept. 15, shares of Bel Fuse Inc. (NASDAQ:BELFB) are up 107% to date, making them one of the best. profitable actions in the technology sector.

On August 2, Bel Fuse Inc. (NASDAQ: BELFB) declared a quarterly dividend of $0. 06 consistent with stock, in line with the previous one. The dividend is payable on November 1 to the company’s shareholders at the close of October 14.

Among the hedging budget tracked through Insider Monkey, Howard Marks’ Oaktree Capital Management is the largest shareholder of Bel Fuse Inc. (NASDAQ:BELFB), with 462,679 shares valued at $7. 2 million. Overall, Bel Fuse Inc. (NASDAQ:BELFB) component of 11 hedge fund portfolios at the end of the current quarter of 2022, up from 14 in last quarter’s budget.

Number of hedge fund holders: 12

Year-to-date percentage value gain as of September 15: 17. 66%

Absolute Software Corporation (NASDAQ:ABST) is a Canadian company that provides software installations that control and protect computing devices, applications, data and networks for multiple organizations. On August 24, Absolute Software Corporation (NASDAQ:ABST) reported fourth-quarter earnings that rose 65% to $52. 5 million, surpassing the market consensus of $0. 9 million. During the period, the company reached 13. 6 million active terminals in its global visitor base, a year-on-year increase of 18%. Shares of Absolute Software Corporation (NASDAQ:ABST) have gained about 18% since Sept. 15.

On August 24, TD Securities analyst David Kwan raised the price target of Absolute Software Corporation Inc (NASDAQ:ABST) to $16 from $12 and reaffirmed a stock purchase rating. forecasts for 2023, the analyst told investors. Despite declining margins in the near term due to higher expansion investments, Absolute Software Corporation’s (NASDAQ:ABST) expansion profile is expected to strengthen, placing it “in a strong position for its 40-year target for the third consecutive year. “year,” the analyst said.

According to information from Insider Monkey, 12 hedging budgets were optimistic at Absolute Software Corporation (NASDAQ:ABST) at the end of the current quarter of 2022, up from 13 budgets in the last quarter. Cynthia Paul’s Lynrock Lake is the company’s largest shareholder, with approximately 6 million shares worth $51. 3 million.

Number of hedge fund holders: 14

Gain in the percentage value since the beginning of the year on September 15: 40. 82%

Digi International Inc. (NASDAQ: DGII) is a Minnesota-based company that supplies mission-critical and enterprise Internet of Things products, and responds in the United States and around the world. On August 4, the company reported non-GAAP EPS for the time being for the quarter of $0. 45, beating the market consensus of $0. 08. Digi International Inc. ‘s (NASDAQ:DGII) earnings for the quarter were $104 million, up 31. 5% year-over-year, beating Wall Street estimates of $7. 88 million. The name has gained around 41% year-over-year, making it one of the most productive tech games by 2022.

On September 8, Cantor Fitzgerald analyst Derek Soderberg took over the policy of Digi International Inc. (NASDAQ: DGII) with a high score and a price target of $41. The company is moving from a low-margin connectivity hardware provider to a larger margin distributor provider of a suite of hardware and software subscriptions. This is a complex business style that is hornier for customers, the analyst told investors in a study note. He believes that existing trends are sustainable and will offer opportunities to earn recurring profit subscriptions. .

According to Insider Monkey’s second quarter knowledge, 14 hedging budgets were worth $63 million in stakes in Digi International Inc. (NASDAQ: DGII), to nine budgets in the last quarter worth $44. 30 million. Royce

Number of hedge fund holders: 16

Gain in the value of shares since the beginning of the year on September 15: 45. 80%

International Money Express, Inc. (NASDAQ:IMXI) is a Florida-based company that offers cash movement in the United States, Latin America, Mexico, Africa, Central and South America and the Caribbean. On August 3, International Money Express, Inc. (NASDAQ:IMXI) reported second-quarter non-GAAP EPS of $0. 47 and profit of $136. 94 million, beating the market consensus of $0. 04 million and $1. 59 million, respectively. Revenue increased 17. 3% year-over-year. For fiscal year 2022, International Money Express, Inc. (NASDAQ: IMXI) expects a profit of $542 million to $551 million, a buildup of 18% to 20% over a market consensus of $541. 5 million. As of September 15, inventory had gained around 46%, making it one of the best-performing technology inventories of 2022.

On August 4, Northland analyst Mike Grondahl raised the price target of International Money Express, Inc. (NASDAQ:IMXI) to $28 instead of $26 and reiterated a superior performance score in stocks after “another false quarter. “International Money Express, Inc. ‘s (NASDAQ:IMXI) momentum from 2021 continued through 2022, the analyst added in its post-earnings study note.

Of the coverage budget tracked through Insider Monkey, 16 budgets were long at International Money Express, Inc. (NASDAQ:IMXI) at the end of June 2022, to 23 budgets in the last quarter. Parsa Kiai’s Steamboat Capital Partners is the company’s largest shareholder. , with 1. 6 million inventories valued at $31. 75 million. Just like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon. com, Inc. (NASDAQ:AMZN), International Money Express, Inc. (NASDAQ:IMXI) is a remarkable generation inventory to view.

Here’s what Voss Capital has to say about International Money Express, Inc. (NASDAQ:IMXI) in its letter to investors for the quarter of 2021:

“We believe that Intermex (International Money Express, IMXI) is an attractive long market. IMXI is a foreign cash movement corporation that primarily focuses on transactions that originate in the United States and are destined for Mexico and Guatemala. They get their cash by charging a fixed payment for each remittance transaction (85% of revenue) and, to a lesser extent, through currency arbitrage on transactions (14%). Its clientele is primarily low-income, unbanked immigrants from Mexico and Guatemala with family/friends who remain in their country of origin and who want monetary support. We IMXI is an undeniable story to understand, with a blank capital structure, very low capital intensity (apart from some fluctuations in working capital), a strong brand, smart management, and adequate ongoing execution (for example, a 15-20% expansion in higher incremental margins). We have flaws in the negative narrative surrounding the business that we can exploit, namely skepticism about the sustainability of its expansion, visitor retention, and a false impression of the economics of a transaction. virtual budget movement instead of in person.

The consensus narrative on Wall Street is that IMXI is making a strategic mistake by not doing “everything” in virtual transactions, such as MoneyGram (MGI), Western Union (WU), and well-supported personal competition like Remitly and Wise. Hear that the wave of venture capital cash is appearing, which holds the long run, and remittances initiated through physical retail outlets are dying. As the virtual transition progresses, Intermex will lose its visitor base and, given the operating leverage of the model. , profitability will be greatly affected. The bears also argue that virtual is cheaper, less complicated and creates a firmer visitor base in the long run. In addition, Intermex’s concentration in just a few markets makes it difficult to scale the company and temporarily run into a wall of growth. (Click here to read the full text)

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