3 High Growth Tech Stocks To Watch In Australia

by Admin
November 25, 2024

The Australian stock market, represented by the ASX200, has recently experienced a 0.7% increase and is trading near record levels, with sectors like Real Estate and Discretionary leading the gains. In this buoyant environment, identifying high growth tech stocks requires an understanding of their potential to capitalize on favorable economic conditions and sector performance trends.

Name	Revenue Growth	Earnings Growth	Growth Rating
Infomedia	6.77%	20.97%	★★★★★☆
Clinuvel Pharmaceuticals	21.38%	26.16%	★★★★★☆
Adherium	86.80%	73.66%	★★★★★★
Pureprofile	14.31%	71.53%	★★★★★☆
Telix Pharmaceuticals	21.55%	38.32%	★★★★★★
ImExHS	20.47%	111.20%	★★★★★★
AVA Risk Group	25.54%	77.32%	★★★★★★
Pointerra	56.62%	126.45%	★★★★★★
Wrkr	37.21%	98.46%	★★★★★★
SiteMinder	18.84%	60.58%	★★★★★☆

Click here to see the full list of 58 stocks from our ASX High Growth Tech and AI Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Data#3 Limited provides IT solutions and services across Australia, Fiji, and the Pacific Islands, with a market capitalization of A$1.22 billion.

Operations: The company operates as a value-added IT reseller and solutions provider, generating revenue of A$805.75 million.

Data#3 Limited, an Australian tech firm, is navigating a dynamic landscape with its impressive 33.3% revenue growth forecast annually, outpacing the Australian market’s 5.7%. This growth is complemented by a robust earnings increase of 17% over the past year, which exceeds the IT industry’s average by 10%. Despite these strong performance indicators, the company’s R&D expenses have not been detailed in this analysis. Recently announced changes at their AGM include appointing PwC as their new auditor and addressing executive transitions, indicating proactive governance and adaptability in management strategies. These elements suggest Data#3 is reinforcing its competitive position in Australia’s tech sector while managing substantial financial growth and operational shifts effectively.

ASX:DTL Revenue and Expenses Breakdown as at Nov 2024

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Iress Limited designs and develops software and services for the financial services industry across the Asia Pacific, United Kingdom, Europe, Africa, and North America with a market capitalization of A$1.72 billion.

Operations: Iress Limited generates revenue through multiple segments, including APAC Wealth Management (A$132.02 million), Managed Portfolio – UK (A$173.43 million), and APAC Trading & Global Market Data (A$179.20 million). The company’s operations span various regions, providing software solutions tailored to the financial services sector.

Iress, amidst a transformative phase under new leadership, shows promising signs with its earnings projected to surge by 29.6% annually. This growth starkly contrasts the slower revenue uptick of just 1.9% per year, lagging behind Australia’s average of 5.7%. Strategic shifts include the promotion of Harry Mitchell as Deputy Group CEO, poised to steer Iress through its next growth phase in superannuation and wealth management across APAC and the UK. With R&D expenses constituting a significant yet undisclosed portion of their budget, Iress is investing in innovation to stay competitive in the evolving tech landscape. The recent board enhancements further solidify its governance framework, ensuring robust oversight as it navigates these expansive changes.

ASX:IRE Revenue and Expenses Breakdown as at Nov 2024

Simply Wall St Growth Rating: ★★★★☆☆

Overview: SEEK Limited operates as an online employment marketplace service provider across Australia, South East Asia, New Zealand, the United Kingdom, Europe, and other international regions with a market cap of approximately A$9.53 billion.

Operations: SEEK Limited generates revenue primarily through its employment marketplaces, with A$840.10 million from the ANZ region and A$244 million from Asia.

SEEK, poised for significant transformation, is navigating through a challenging yet opportunistic landscape. With an anticipated revenue growth of 7.9% annually, it outpaces the broader Australian market’s average of 5.7%. This growth trajectory is complemented by an aggressive push in R&D, which remains a cornerstone of their strategy to innovate within the Interactive Media and Services sector. Despite current unprofitability, earnings are expected to surge by 37.7% per year as SEEK invests heavily in technology and platform enhancements to better serve its expansive user base. The upcoming Annual General Meeting on November 19 could further shape the company’s strategic direction, potentially influencing its long-term profitability and market position.

ASX:SEK Earnings and Revenue Growth as at Nov 2024

Gain an insight into the universe of 58 ASX High Growth Tech and AI Stocks by clicking here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ASX:DTL ASX:IRE and ASX:SEK.

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