Recently, the financial markets have seen a frenzy of tech IPOs. In 2020, the number of initial public offerings (IPOs) doubled, representing a 150 percent increase over 2019. The NASDAQ-100 Technology Sector has risen 42.2 percent in the last year and is now at its greatest level ever. The technology sector makes up 46.9% of the Renaissance IPO Index, a stock market index that tracks newly public firms in the United States. When investing in newly public companies’ IPOs, investors should carefully assess the risks, fees, and levies.
Insider Monkey analyzes the list of the 15 best new tech stocks to buy now. The revenue of Couchbase, Inc. was $3.39 million, up 26.7 percent over the previous quarter. The company’s Annual Recurring Revenue, or ARR, is increasing at a 26 percent compound annual growth rate. Clear Secure, Inc. is a secure identification platform firm. Security applications for airports and other locations are available through the company’s software. Clear Secure made over $230.7 million in revenue in fiscal year 2020, up from $192.2 million in fiscal year 2019. Shoals Technologies Group, Inc. is a technology business that provides solutions for solar energy projects’ electrical balance of systems, or EBOS. On January 27, the firm went public, raising $1.9 billion in its first public offering. ZipRecruiter, Inc. (NYSE: ZIP) is an online job marketing firm that uses AI-based matching technologies. The stock soared 17 percent to $21 per share after the firm went public via a direct listing on May 26, 2021. Monday.com Ltd. reported $59 million in revenue in Q1 2021, up 85 percent year over year. On June 10, the firm went public, raising $574 million in an initial public offering. Since its IPO, Monday.com has increased by 24.06 percent. Procore Technologies, Inc. has completed more than a million projects totaling $1 trillion in value. In FY21, the company anticipates revenue of $496 to $499 million. On August 5, Procore Technologies released its Q2 2021 financial results, revealing a revenue increase of 27% year over year. Olo Inc. is a restaurant technology company that specializes in cloud-based digital ordering and delivery services. Olo is used by over 400 multi-location restaurant chains to handle their digital platforms. Olo recorded a net income of $6 million and an EPS of $0.03 in the first quarter of 2021. For more details, click 15 Best New Tech Stocks to Buy Now.
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