3 Tech Stocks Under $5 Wall Street Analysts Predict Will Gain More Than 80%

Though investors rotated away from expensive technology stocks earlier this month, according to Kyle Rodda, a market analyst at IG Australia, “The narrative over the last couple of days has been…

earnings focused and tech stocks have led the charge. There’s momentum there, simple as that.”

Furthermore,  the Nasdaq Composite has jumped to 15,021.81 recently. Investors’ interest in the tech stocks is evidenced by the Technology Select Sector SPDR Fund’s (XLK) 4.7% returns over the past three months. Consistent innovations in artificial intelligence (AI) and the internet of things (IoT), among others, are expected to drive the technology sector’s growth.

So, we think it could be wise to add tech stocks Summit Wireless Technologies, Inc. (WISA – Get Rating), Safe-T Group Ltd (SFET – Get Rating), and Auddia Inc. (AUUD – Get Rating) to one’s watch list now. These stocks are trading below $5, and Wall Street analysts expect them to deliver significant returns in the near term.

Summit Wireless Technologies, Inc. (WISA – Get Rating)

WISA in San Jose, Calif., develops, manufactures, and sells modules and integrated circuits for several countries’ home entertainment and wireless audio markets. It also offers TX modules for integration into televisions, audio-visual receivers, and media hubs.

On July 21, 2021, WISA launched its WiSA SoundSend Certified program. Tony Ostrom, WISA’s President, said, “Wiser is helping its TV manufacturing members across the globe easily acquire this standout certification as they’re witnessing SoundSend proves to be an integral part of seamless, wireless home cinema while allowing connection to incredible speaker solutions from a large and growing roster of WiSA members.”

For the second quarter, ended June 30, 2021, WISA’s revenue increased 354.3% year-over-year to $1.58 million. The company’s gross profit came in at $459,000, representing a 3,725% year-over-year rise. In addition, its total assets were $15.88 million for the period ended June 30, 2021, versus $11.3 million for the period ended December 31, 2020.

WISA’s revenue is expected to be $6.85 million in its fiscal year 2021, representing a 184.9% year-over-year rise. The company’s EPS is expected to increase 59.1% in the current year.

Over the past year, the stock has gained 19.7% in price to close yesterday’s trading session at $2.73. Wall Street analysts expect the stock to hit $5.75 in the near term, which indicates a potential upside of 110.6%.

Safe-T Group Ltd (SFET – Get Rating)

Headquartered in Herzliya, Israel, SFET provides intelligent data collection and cybersecurity solutions internationally. The company serves finance, healthcare, retail sectors, government agencies, commercial companies, and educational institutions.

On September 30, 2021, SFET completed the development of iShield, its latest and most advanced cybersecurity product for consumers. SFET’s CEO, Shachar Daniel, said, “We are excited to bring our iShield technology to the…

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