8 Unstoppable Tech Stocks to Buy Now

3. AudioEye, Inc. (NASDAQ:AEYE)

Year-to-date Share Price Gain as of September 10: 300.83%

Number of Hedge Fund Holders: 4

AudioEye, Inc. (NASDAQ:AEYE) is one of the unstoppable tech stocks to buy now. The stock has gained 300% on a year-to-date basis and was held by 4 hedge funds in Q2 2024, with total positions worth $2.80 million. Citadel Investment Group is the top shareholder of the company, with a position worth $1.84 million.

It is a technology company that specializes in making digital content accessible to everyone, including people with disabilities. Its main product includes a technology platform that allows businesses to convert their digital content in all formats.

AudioEye, Inc. (NASDAQ:AEYE) has reached a point where it can grow its revenue and annual recurring revenue (ARR) without additional expenses. The latest fiscal quarter resulted in a 19% increase year-over-year and was mainly supported by a 60% subsequent growth in the ARR.

A strong recurring revenue stream indicates long-term growth with low operational costs and high-profit margins. AudioEye, Inc. (NASDAQ:AEYE) also hit its record adjusted EBITDA of around $1.5 million, with EBITDA margins at 17%.

Management raised its full-year guidance to between $34.5 million and $34.8 million and expects the company to increase its free cash flow during the latter half of the year. It also has strategic measures in place to ensure market penetration at state, local, and government levels.