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

4 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?

Google stock
Source: TD Ameritrade TOS

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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?

snowflake stock
Source: TD Ameritrade TOS

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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

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