MENU

4 cheap tech stocks to buy now for $8 or less

If you’re looking to buy stocks right now but are conscious of overpaying, then you should take a look at these four tech stocks. In addition to their cheap prices, these stocks also offer significant growth potential and dividends that will appeal to income investors (in fact, one offers a grossed up yield greater than 6%)!

1. Nearmap Ltd (ASX: NEA): Recent Price: $0.545; Gross Yield: NA

Although Nearmap doesn’t yet pay a dividend, it does offer enormous growth potential. While the stock has already gained more than 1,250% over the last two years, I believe its best days are still ahead of it. Nearmap is a provider of ultra-high resolution geospatial map imagery which is quickly gaining popularity across Australia. In addition, it has begun conducting test flights in the US, a region which could also prove to be extremely profitable.

2. Veda Group Ltd (ASX: VED): Recent Price: $2.40; Gross Yield: 1.7%

If there’s one thing the GFC taught us, it’s the importance of only lending to customers who are able to repay their debts. Credit reporting standards are getting stricter and Veda Group is in the box seat to benefit. The company boasts an incredible track record for growing revenues and earnings and I — along with the company’s management team — expect that will continue for the foreseeable future.

3. M2 Group Ltd (ASX: MTU): Recent Price: $7.51; Gross Yield: 4.9%

M2 Group finds itself in a prime position to ride out Australia’s telecommunications tidal wave. Having strategically acquired a number of businesses, including Eftel, Dodo and Primus, M2 Group maintains a huge customer base and will continue to grow organically over the coming years.

4. Webjet Limited (ASX: WEB): Recent Price: $3.05; Gross Yield: 6.3%

Nowadays, various aspects of travel, including flights, hotel and car bookings are all being made online, and Webjet is in a leading position to benefit. The market still seems a little cool on the company’s prospects however, which is surprising considering it recently reported a massive 195% rise in full-year earnings, a 31.9% jump in total revenues and a 9.4% increase in total transaction value.

Our #1 Tech stock idea - Yours FREE! 

As appealing as each of these companies are right now, there is one that is looking even more promising. The Motley Fool has today released a special video report on our analysts' #1 ASX tech pick -- and it's all about one Australian company poised to win big from the 'cloud computing' trend. (Hint: The shares are already up over 100%!) Click here to claim your FREE copy.

Motley Fool contributor Ryan Newman owns shares in Nearmap Ltd and Veda Group Ltd.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.