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Best Cheap Stocks To Buy Now? 3 Tech Stocks To Check Out

Could now be the time to be watching these undervalued tech stocks?

3 Tech Stocks To Watch In September 2022

Tech stocks are among the most popular investments for stock market investors today. They offer investors the chance to tap into the growth of some of the most innovative companies in the world. Now, it’s important to note while there can be risks associated with any stock, tech stocks tend to be more volatile than most. However, that could mean that they can offer investors the potential for high rewards.

But it also means that there is a greater chance of losses. For that reason, investors need to carefully consider their goals and risk tolerance before investing in tech stocks. But for those who are willing to take on a little extra risk, here are three tech stocks for your September 2022 watchlist.

Tech Stocks To Buy [Or Sell] Now

Roblox Corporation (RBLX Stock)

Roblox Corporation (RBLX) is an American technology entertainment company. In brief, the company’s platform allows its users to create their own games. As well as, play a broad range of games created by other users on the Roblox platform. For a sense of scale, in August the company reported that its second quarter 2022 average daily active users (DAUs) were 52.2 million. This week, Roblox’s name has been in the stock market news headline. The company announced it will be launching 3D advertising, or referred to as “immersive ads” in 2023.

Additionally, just last month Roblox reported its fiscal 2022 Q2 2022 financial results. Diving right in, the company posted a loss of $0.30 per share on revenue of $591.2 million for Q2. This is compared with analysts’ consensus estimates of a loss of $0.23 per share on revenue of $658.5 million. Meanwhile, Roblox reported year-over-year revenue growth of 30.2% during the same period.

In addition to that, the company reported its Average Daily Active Users grew 21% year-over-year to 52.2 million. Shares of Roblox stock are still down over 55% since the start of 2022. Could this be a good time to invest in roblox stock amid its current price levels?

Source: TD Ameritrade TOS

[Read More] 3 Meme Stocks To Watch Today

Alphabet Inc. (GOOGL Stock)

Following that, Alphabet Inc. (GOOGL) is an American multinational conglomerate. Notably, Alphabet is the the parent company of Google, Youtube and several others. The company is best known for its search engine Google, which is the most used search engine in the world.

Shares of GOOGL stock are down over 28% year-to-date as of Tuesday’s closing bell at $104.31 per share. With that, back in July Alphabet reported weaker-than-expected 2nd quarter 2022 financial results. In the report, Alphabet reported earnings of $1.21 per share, while notching in revenue of $69.7 billion. Compared with, the street’s consensus estimates for the quarter of $1.27 earnings per share, and revenue estimates of $70.8 billion.

Though, the company was able to post better-than-expected results for its ad revenue for the quarter at $56.29 billion versus estimates of $56.14 billion. Could now be the time to grab shares of Alphabet stock ahead of a potential rebound in 2023?

Source: TD Ameritrade TOS

[Read More] What Stocks To Buy Today? 4 Oil Stocks To Watch

Snowflake Inc. (SNOW Stock)

Snowflake Inc. (SNOW) is a cloud-computing based data cloud company. Simply put, the company is a provider of cloud-based data warehousing and analytics solutions. In detail, Snowflake’s unique architecture enables users to easily store, query, and analyze data in the cloud. In addition, Snowflake also offers a number of features that are designed to help users get the most out of their data. Similar to the other names mentioned in this article, SNOW stock has been beaten down by over 43% year-to-date as of Tuesday’s closing bell at $187.43 per share.

Aside from that, late last month Snowflake released its second quarter fiscal 2023 financial results. In the report, the company posted a loss of $0.18 per share, with revenue of $497.2 million. This revenue number reflects a 82.7% increase during the same period, a year prior. Additionally, Snowflake reported that is has a total of over 6,800 customers, with a net retention rate of 171% as of July 31, 2022.

Frank Slootman, Chairman and CEO, Snowflake commented in his letter to shareholders, “During Q2, product revenue grew 83% year-over-year to $466 million dollars. Our non-GAAP product gross margin exceeded 75%, and we continue to generate non-GAAP operating income and free cash flow. Snowflake’s next frontier of innovation is aimed at transforming how cloud applications are built, deployed, sold, and transacted. We look forward to executing against this growth opportunity.” All in all, do you think SNOW stock is a good cheap tech stock to buy now?

Source: TD Ameritrade TOS

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By Josh Dylan

Josh Dylan is an active contributor to StockMarket.com. His forte is in geosocial events and emerging trends in the stock market today. As an active contributor to other financial outlets like MarijuanaStocks.com, his ability to study current events and determine the potential market reaction is what sets him apart from other writers.

After studying at UC Santa Cruz and earning a bachelor's of art and art history, Josh also went on to start his own business in art resale. Identifying underserved niches like this has allowed him to think outside the box when it comes to applying this approach to the stock market.

His new-age take on social media and branding gave Josh the foresight to apply certain lifestyle trends to market moving topics. This has included the recent trend in the cannabis industry and marijuana stocks as well as following emerging technology such as artificial learning and web-bots. Fundamentals are just as important as momentum in Josh’s opinion. Being able to understand how to apply popular trends to investing is of major importance. If the price of oil is sinking but the price of gold is following along, we want to understand why, not just follow the broader trend.

Josh Dylan makes it a point to not only mention what hot “today” but also find ways to apply that to find future opportunity in the stock market. What’s more is that Josh has become an active part in the StockMarket.com social media team. He works to delivery top research not only one StockMarket.com but also bring it to the readers, directly.

By studying the macro-economic events in the market, Josh makes sure to find events that could shift micro-economic trends. He prides himself on taking a unique approach to information but not taking things for “face value”. When it comes to the stock market, things can change at a moment’s notice and Josh makes sure to stay ahead of that with sound research and diligence. When Josh isn’t writing about the stock market, he enjoys spending time with his family and surfing. He currently calls Southern California his home.

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