10 Worst Affordable Tech Stocks to Buy According to Short Sellers

4) TTEC Holdings, Inc. (NASDAQ:TTEC)

Short % of Float (As of 30 August 2024): 18.57%

Forward P/E as of 23 September 2024: 3.10x

TTEC Holdings, Inc. (NASDAQ:TTEC) operates as a customer experience (CX) company, designing, building, and operating technology-enabled customer experiences throughout digital and live interaction channels.

The company’s performance might witness negative impacts due to the shifting market dynamics and investor sentiment. TTEC Holdings, Inc. (NASDAQ:TTEC) has been facing challenges in regaining its footing in a competitive and rapidly evolving market landscape. There are numerous headwinds for the company’s Engage business, such as reduced forecast volumes from healthcare clients, delayed initiatives, along with the strategic decision to exit non-aligned programs. Notably, the current economic climate is challenging, and clients are hesitant to commit to long-term service contracts. In 2Q 2024, TTEC Holdings, Inc. (NASDAQ:TTEC) highlighted that the clients continue to face softer demand and budget constraints, impacting the top line in the Engage business.

On the other hand, Wall Street seems to be quite optimistic about TTEC Holdings, Inc. (NASDAQ:TTEC)’s stock. They believe that the company’s Digital business should continue to show resilience, with new enterprise client wins and growth in recurring managed services. The company’s diversification strategy and cost optimization measures should deliver significant savings. TTEC Holdings, Inc. (NASDAQ:TTEC) is expanding its offshore footprint, mainly in South Africa, in 2025.

TTEC Digital has been attracting new clients and is expanding its partner ecosystem, with more than 100 AI technology implementations underway. Moreover, TTEC Holdings, Inc. (NASDAQ:TTEC) continues to win competitive bids and leverage offshore expansion to protect contract profitability. The company’s emphasis on expanding its digital offerings, diversifying its client base, and optimizing costs reflects the adaptive approach, which should help it achieve long-term growth.

As per Wall Street, the shares of TTEC Holdings, Inc. (NASDAQ:TTEC) have an average price target of $4.75. According to Insider Monkey’s database, 19 hedge funds held stakes in the company in the second quarter.