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.

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

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