10 Most Promising New Technology Stocks According to Hedge Funds

7. NCR Atleos Corporation (NYSE:NATL)

Number of Hedge Funds: 27

NCR Atleos Corporation (NYSE:NATL) is a financial technology company that specializes in self-directed banking solutions. The company also operates the Allpoint network, which is the largest network of ATMs available for consumers. This allows users to withdraw cash from various locations without incurring additional fees.

NCR Atleos Corporation (NYSE:NATL) has reported strong financial growth through the first three quarters of 2024, highlighting several key achievements and strategic developments in its operations. The company grew its service revenue by 6% during the first three quarters of fiscal 2024, with a notable increase in ATM as a Service (ATMaaS) revenue, which surged by nearly 30%. This indicates a strong demand for their self-service banking solutions. Moreover, during the same time, it also improved ARPU on its network machines by 7%, reflecting enhanced monetization of its existing ATM fleet.

Turning to the third quarter of fiscal 2024, the company’s revenue reached approximately $1.08 billion, exceeding expectations, while profits were also above forecasts, driven by growth in transactions and services.

NCR Atleos Corporation (NYSE:NATL) is one of the most promising new technology stocks according to hedge funds. It was held by 27 hedge funds in Q3 2024, as per the Insider Monkey database.