2 Top Tech Stocks Under $20 Per Share
Investors on the hunt for a bargain in the tech sector have lots of choices right now. Today, I'll give you a closer look at two top tech stocks trading under $20 that offer a tantalizing combo of growth and value: 8x8 (NASDAQ: EGHT) and Palantir Technologies (NYSE: PLTR).
8x8, a leading provider of cloud-based unified communications and contact-center solutions, has seen its share price tumbling in recent months. The stock is down 67% over the last 52 weeks and 26% in the last month alone. But this slump has led to rock-bottom valuations with 8.3 times forward earnings, 0.62 times sales, and 9.6 times free cash flow (FCF).
Despite the recent price decline, 8x8 reported impressive third-quarter 2023 results last month. Sales grew 18% compared to the year-ago period, adjusted operating profit soared from $3.1 million to $18.3 million, and annual recurring revenue (ARR) was up 22% to $698 million.
Source Fool.com
