5 Best Affordable Tech Stocks To Buy According to Analysts

In this article, we will be taking a look at the 5 best affordable tech stocks to buy according to analysts. To read our detailed analysis of the tech sector, you can go directly to see the 13 Best Affordable Tech Stocks To Buy According to Analysts.

5. Rimini Street, Inc. (NASDAQ:RMNI)

Number of Hedge Fund Holders: 15

Upside Potential: 42.9%

Share Price: $3.2

P/E ratio: 10.8

Rimini Street, Inc. (NASDAQ:RMNI) is an application software company based in Las Vegas, Nevada. It offers enterprise software products, services, and support.

There were 15 hedge funds long Rimini Street, Inc. (NASDAQ:RMNI) in the fourth quarter, with a total stake value of $88.2 million.

Diamond Hill Capital said this about Rimini Street, Inc. (NASDAQ:RMNI) in its third-quarter 2023 investor letter:

“Other bottom contributors in Q3 included Rimini Street, Inc. (NASDAQ:RMNI), Lancaster Colony Corporation and Allegiant Travel Company. Shares of IT services company Rimini Street declined following a litigation ruling in Oracle’s favor, which has increased uncertainty about the company’s brand reputation among prospects and clients. We will observe closely how this unfolds over the coming quarters.”

4. Consensus Cloud Solutions Inc. (NASDAQ:CCSI)

Number of Hedge Fund Holders: 14

Upside Potential: 44.9%

Share Price: $13.5

P/E ratio: 3.4

A Neutral rating was maintained on Consensus Cloud Solutions Inc. (NASDAQ:CCSI) on January 26 by BTIG analysts.

Consensus Cloud Solutions Inc. (NASDAQ:CCSI) provides information delivery services with a software-as-a-service platform. It is based in Los Angeles, California.

We saw 14 hedge funds long Consensus Cloud Solutions Inc. (NASDAQ:CCSI) in the fourth quarter, with a total stake value of $67.5 million.

3. Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Number of Hedge Fund Holders: 7

Upside Potential: 54.9%

Share Price: $5.5

P/E ratio: 13.2

Seven hedge funds were long Gilat Satellite Networks Ltd. (NASDAQ:GILT) in the fourth quarter, with a total stake value of $12.9 million.

Gilat Satellite Networks Ltd. (NASDAQ:GILT) is a communications equipment company based in Israel. It provides satellite-based broadband communication solutions.

2. TransAct Technologies Incorporated (NASDAQ:TACT)

Number of Hedge Fund Holders: 6

Upside Potential: 65.4%

Share Price: $5.4

P/E ratio: 11.5

Craig-Hallum analysts hold a Buy rating and $9 price target on TransAct Technologies Incorporated (NASDAQ:TACT) as of March 13.

Six hedge funds were long TransAct Technologies Incorporated (NASDAQ:TACT) in the fourth quarter, with a total stake value of $15.3 million.

TransAct Technologies Incorporated (NASDAQ:TACT) is a tech hardware, storage, and peripherals company. It develops transaction-based and specialty printers and terminals.

Laughing Water Capital said the following about TransAct Technologies Incorporated (NASDAQ:TACT) in its second-quarter 2023 investor letter:

“TransAct Technologies Incorporated (NASDAQ:TACT) – TACT is the leading manufacturer of slot machine printers, and has also been developing a restaurant back-of-house software product called BOHA!. In April it was announced that after 27 years, there would be a change to Transact’s CEO. I cannot be certain, but I believe this was a result of pressure from activists, and in my view, it was past time for a change. My estimate of the value of BOHA! has admittedly come down as interest rates have gone up and software multiples everywhere have declined. However, my estimate of the value of the slot printer business has gone up as Transact has been taking share from their only real competitor, who has been facing production issues. From here, I think it is likely that the activists attempt to sell one or both businesses in the not-too-distant future in order to unlock value.”

1. inTEST Corporation (NASDAQ:INTT)

Number of Hedge Fund Holders: 12

Upside Potential: 78.9%

Share Price: $10.9

P/E ratio: 10.6

Based in Mount Laurel, New Jersey, inTEST Corporation (NASDAQ:INTT) is a semiconductor materials and equipment company. It supplies test and process solutions for use in manufacturing and testing and automotive, defense, industrial, life sciences, security, and semiconductor markets.

A total of 12 hedge funds were long inTEST Corporation (NASDAQ:INTT) in the fourth quarter, with a total stake value of $27.2 million.

Liberty Park Capital Management, LLC mentioned inTEST Corporation (NASDAQ:INTT) in its first-quarter 2023 investor letter:

“We are pleased that Liberty Park Fund, LP has gotten off to a strong start in 2023. January was a particularly strong month for both of our funds, and LPF was able to use the market’s strength to install several new short positions; those positions greatly helped the portfolio in February and March as the market receded.

InTEST Corporation (NYSE:INTT) manufactures induction heating solutions for growing silicon carbide (SiC) crystals. The company beat analysts’ earnings expectations and shares rose during the quarter along with other silicon carbide industry peers.”

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