Option chain shows key data for Ricoh Co's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Ricoh Co.

Ricoh Co (OTC:RICOY) Stock, Option Chain

Ricoh Co

Ricoh Co Ltd provides products, services, and solutions in offices and other environments. The company's Imaging and Solutions segment is engaged in office imaging, production printing, and network system solutions. Industrial Products segment manufactures and sales of thermal media, optical equipment, semiconductors, electronic component and the Inkjet head. Its Other segment is engaged in manufacturing and sales of digital cameras, financing business and logistics services provided by the company's subsidiaries. The company's revenue is majorly derived from Japan.

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RICOH CO LTD SPN ADR by Ricoh Company Ltd.

Ricoh Co Ltd

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In latest deal, Xerox Corporation (<a class="ticker" href="/stock/xrx#">XRX</a>) is outsourcing its global engineering business to Indian software company HCL Technologies Ltd. (532281). In 2009, HCL Technologies, engaged in providing a range of software services, business process outsourcing and infrastructure services, received a 6 year contract woth more then $100 million to manage Xerox's data centers in Europe and in North America.
<a href="http://ceoworld.biz/ceo/tag/xrx">Xerox Corporation</a> (<a class="ticker" href="/stock/xrx#">XRX</a>) is trading at a price of $9.97, a dramatic change of -0.14 with % change of -1.38% from its previous day's close. Currently, the company has a Market capitalization (total value of a company in the stock market) of approximately 13.95B. <a href="http://ceoworld.biz/ceo/tag/532281">HCL Technologies Ltd.</a> (532281) is trading at a price of 491.55, a dramatic change of -1.90 with % change of -0.39% from its previous day's close. Currently, the company has a Market capitalization (total value of a company in the stock market) of approximately 337.07B.
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<a href="http://ceoworld.biz/ceo/tag/ricoy">Ricoh Company Ltd.</a> (<a class="ticker" href="/stock/ricoy#">RICOY</a>) is trading at a price of50.11, a dramatic change of-1.04with % change-2.03%, the company has a Market capitalization (total value of a company in the stock market) of approximately7.47B
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Pitney Bowes Inc. (<a class="ticker" href="/stock/pbi#">PBI</a>) is trading at a price of24.32, a dramatic change of-0.31with % change-1.26%, the company has a Market capitalization (total value of a company in the stock market) of approximately4.96B
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Hewlett-Packard Company (<a class="ticker" href="/stock/hpq#">HPQ</a>) is trading at a price of35.81, a dramatic change of-0.17with % change-0.47%, the company has a Market capitalization (total value of a company in the stock market) of approximately77.49B
<a href="http://ceoworld.biz/ceo/tag/xrit">X-Rite, Incorporated</a> (<a class="ticker" href="/stock/xrit#">XRIT</a>) is trading at a price of4.67, a dramatic change of0.08with % change1.74%, the company has a Market capitalization (total value of a company in the stock market) of approximately401.33M
Eastman Kodak Company (<a class="ticker" href="/stock/ek#">EK</a>) is trading at a price of3.64, a dramatic change of-0.06with % change-1.62%, the company has a Market capitalization (total value of a company in the stock market) of approximately979.30M.
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Xerox Corporation and HCL Technologies deal- is it worth?

Ricoh Company, Ltd. 2023 Q3 - Results - Earnings Call Presentation

The technology industry is growing rapidly owing to the incorporation of cutting-edge technologies and increased spending on digitization. Given this backdrop, investors could consider buying quality tech stocks Ricoh Company (RICOY), AvePoint (AVPT), and RADCOM (RDCM). Read on... The tech sector is witnessing rapid growth due to the growing demand for new innovative solutions, rising spending on digitization, and the adoption of cutting-edge devices. Therefore, fundamentally strong tech stocks Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>), AvePoint, Inc. (<a href="https://stocknews.com/stock/AVPT/">AVPT</a>), and RADCOM Ltd. (<a href="https://stocknews.com/stock/RDCM/">RDCM</a>) could be ideal additions to one's portfolio.
Before exploring the fundamentals of these stocks, let's first understand what's shaping the tech industry's prospects.
The tech sector is one of the fastest-growing sectors due to its continuous innovations and cutting-edge products. The industry caters to the rising digitization demands of various sectors. Gartner projects worldwide IT spending to hit $5.06 trillion, representing an <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">8% year-over-year</a> growth in 2024. It expects worldwide IT spending to exceed $8 trillion before the end of 2030.
With technology evolving, cutting-edge hardware solutions are required to manage the various data-intensive workloads. Additionally, advanced hardware components are required for the seamless functioning of various machine learning, artificial intelligence (AI), and the Internet of Things (IoT) applications. The IT hardware market is projected to grow at a <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">CAGR of 7.9%</a> to reach $191.03 billion by 2029.
Also, Gartner expects spending on devices this year to rise 3.6% year-over-year to $687.94 billion. Furthermore, a surge in the demand for cloud services and cybersecurity solutions, along with the increasing utilization of AI, machine learning, and data analytics tools, are driving the demand for tech services.
The global IT services market is estimated to grow at a <a href="https://www.grandviewresearch.com/industry-analysis/it-services-market-report">CAGR of 9.7%</a>, reaching $2.59 trillion by 2030. Investors' interest in tech stocks is evident from the Vanguard Information Technology Index Fund ETF Shares' (<a href="https://stocknews.com/stock/VGT/">VGT</a>) 21.8% returns over the past six months.
Considering these conducive trends, let's examine the fundamentals of the three tech stocks mentioned above.
Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>)
Headquartered in Tokyo, Japan, RICOY provides office, commercial printing, and related solutions worldwide. It operates through Digital services, Digital Products, Graphic Communications, Industrial Solutions, and Other segments.
On April 22, RICOY announced the acquisition of natif.ai, a German software startup company offering AI-enabled Intelligent Capture, advanced image recognition, and optical character recognition technologies.
This acquisition will enhance the data extraction function of RICOY's Process Automation portfolio from various documents, including paper and handwritten documents, that have enabled RICOY to offer its customers automation and sophistication in a wide range of business processes.
RICOY's trailing-12-month Return on Common Equity of 5.93% is 81.2% higher than the industry average of 3.27%. Its trailing-12-month Return on Total Capital and Return on Total Assets of 3.08% and 2.59% are 31.3% and 78.2% higher than the industry averages of 2.34% and 1.45%, respectively.
RICOY's sales and <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> for the fiscal third quarter that ended December 31, 2023, increased 5.4% and 9.3% year-over-year to ¥585.10 billion ($3.76 billion) and ¥210.39 billion ($1.35 billion), respectively.
For the same quarter, its profit attributable to owners of the parent and earnings per share attributable to owners of the parent stood at ¥14.66 billion ($94.25 million) and ¥24.06, up 17.1% and 3.5% from the prior-year quarter, respectively.
Street expects RICOY's revenue for the quarter ending September 30, 2024, to increase 1.1% year-over-year to $3.87 billion. The company surpassed consensus revenue estimates in three of the trailing four quarters, which is impressive. The stock has gained 13.9% year-to-date to close the last trading session at $8.78.
RICOY's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has an A grade for Value, Momentum, and Stability. It is ranked #11 out of 38 stocks in the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry. <a href="https://stocknews.com/stock/RICOY/">Click here</a> to see the additional POWR Ratings for RICOY (Growth, Sentiment, and Quality).
AvePoint, Inc. (<a href="https://stocknews.com/stock/AVPT/">AVPT</a>)
AVPT provides a cloud-native data management software platform in North America, Europe, the Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications.
On February 21, AVPT announced the addition of three new products to its FedRAMP authorization as a Software as a Service (SaaS) company, implying their rigorously tested security controls and its user-verified SaaS solutions within all federal agencies.
AVPT's trailing-12-month asset turnover ratio of 0.63x is 3% higher than the industry average of 0.62x. Similarly, its trailing-12-month levered FCF margin of 14.50% is 51.8% higher than the industry average of 9.55%.
AVPT's total revenue and non-GAAP gross profit for the fiscal fourth quarter that ended December 31, 2023, stood at $74.62 million and $56.11 million, up 17.3% and 22.2% year-over-year, respectively.
For the same quarter, its net income available to common shareholders stood at $4.27 million, compared to a net loss available to common shareholders of $12.72 million in the year-ago quarter. Its earnings per share stood at $0.02, compared to a loss per share of $0.07 in the prior-year quarter.
For the quarter ending September 30, 2024, AVPT's EPS is expected to increase 30.5% year-over-year to $0.04. Its EPS for the quarter that ended March 31, 2024, is expected to grow 21.4% year-over-year to $72.33 million. The company surpassed consensus revenue estimates in each of the trailing four quarters. Over the past year, the stock has gained 93.2%, closing the last trading session at $7.92.
AVPT's POWR Ratings reflect its positive prospects. It has an overall B rating, equating to Buy in our proprietary rating system.
AVPT has a B grade for Growth and Quality. Within the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry, it is ranked #15 out of 78 stocks. To see the additional POWR Ratings of AVPT for Value, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/AVPT/">click here</a>.
RADCOM Ltd. (<a href="https://stocknews.com/stock/RDCM/">RDCM</a>)
Headquartered in Tel Aviv, Israel, RDCM provides 5G-ready cloud-native, network intelligence, and service assurance solutions for telecom operators or communication service providers (CSPs).
On April 8, RDCM announced the renewal of its multi-year collaboration with Rakuten Mobile Inc., which will continue to provide current solution offerings, including advanced AI-powered analytics such as anomaly detection and automated root cause analysis.
These advanced AI-driven use cases will help proactively identify and prevent degradations, enabling Rakuten Mobile to maintain efficient network operations and network automation.
RDCM's trailing-12-month gross profit margin and net income margin of 73.31% and 7.20% are 50.8% and 185.6% higher than the industry averages of 48.61% and 2.52%, respectively.
RDCM's revenues and non-GAAP gross profit for the fiscal fourth quarter that ended December 31, 2023, stood at $14.01 million and $10.70 million, up 14% and 18.9% year-over-year, respectively. For the same quarter, its non-GAAP net income and net income per share increased 191.4% and 177.8% from the year-ago quarter to $3.85 million and $0.25, respectively.
Analysts expect RDCM's revenue and EPS for the quarter that ended March 31, 2024, to increase 11.1% and 150% year-over-year to $13.36 million and $0.10, respectively. The company surpassed consensus EPS estimates in three of the trailing four quarters. The stock has gained 8.3% over the past six months to close the last trading session at $8.66.
RDCM's POWR Ratings reflect this promising outlook. It has an overall rating of B, equating to Buy in our proprietary rating system.
RDCM has an A grade for Growth and Sentiment and a B for Stability. Within the Technology Services industry, it is ranked #10. To see RDCM's Value, Momentum, and Quality ratings, <a href="https://stocknews.com/stock/RDCM/">click here</a>.
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RICOY shares were unchanged in premarket trading Friday. Year-to-date, RICOY has gained 13.96%, versus a 7.24% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/ricoy-avpt-rdcm-tech-stocks-paving-the-way-for-bullish-investment-gains-in/>Tech Stocks Paving the Way for Bullish Investment Gains in May</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Tech Stocks Paving the Way for Bullish Investment Gains in May

Given the surge in IT spending and growing demand for tech services, investors may find value in diversifying their portfolios with fundamentally strong tech stocks like Ricoh Company (RICOY), Ribbon Communications (RBBN), ON24, Inc. (ONTF), which are currently trading under $10. Continue reading… Amid the escalating demand for cutting-edge tech solutions, the tech sector is experiencing a rapid surge in spending, propelling its expansion. Thus, it may be an opportune time to seek out bargain hunting for attractive technology stocks such as Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>), Ribbon Communications Inc. (<a href="https://stocknews.com/stock/RBBN/">RBBN</a>), ON24, Inc. (<a href="https://stocknews.com/stock/ONTF/">ONTF</a>), which have an upside potential over the long term.
Global tech giants continue to propel the ever-evolving tech industry forward with relentless investment in research and development. Gartner, Inc.'s latest forecast predicts that worldwide IT spending will increase 8% year-over-year to reach a staggering <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">$5.06 trillion in 2024</a>. Concurrently, investments in IT software are poised for robust double-digit growth, surpassing the trillion-dollar mark to reach $1.04 trillion.
As automation transforms business landscapes and client expectations evolve, companies worldwide are increasingly turning to IT services to navigate these changes. From software development to data management, companies are outsourcing to streamline operations amid complex technology landscapes.
Moreover, the swift expansion of cloud computing is driving the adoption of cloud-based IT services, offering scalability and cost-effectiveness. As a result, the global IT services market is projected to <a href="https://www.imarcgroup.com/it-services-market">reach $2.18 trillion by 2032</a>, exhibiting a CAGR of 7.6%.
Furthermore, investors' interest in tech stocks is evidenced by the strong performance of the Vanguard Information Tech ETF (<a href="https://stocknews.com/stock/VGT/">VGT</a>), which has returned an impressive 28.2% over the past year.
Given this backdrop, let's examine the fundamentals of the three tech stocks mentioned above.
Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>)
Headquartered in Tokyo, Japan, RICOY provides office, commercial printing, and related solutions worldwide. It operates through Digital services, Digital Products, Graphic Communications, Industrial Solutions, and Other segments.
On April 22, 2024, RICOY announced the acquisition of natif.ai, a German software startup company offering AI-enabled Intelligent Capture, advanced image recognition, and optical character recognition technologies.
This strategic move should bolster RICOY's Process Automation portfolio by enhancing its data extraction capabilities from various types of documents, including paper and handwritten ones. As a result, RICOY will be able to offer increased automation and sophistication across a wide range of business processes to its customers.
In terms of forward EV/Sales and EV/EBITDA, RICOY is trading at 0.46x and 6.39x, 84% and 56.7% lower than the industry averages of 2.86x and 14.74x, respectively. Also, its trailing-12-month Price/Sales multiple of 0.34 compares to the industry average of 2.87.
RICOY's sales increased 10.1% year-over-year to ¥2.35 trillion ($14.95 billion) for the fiscal year 2023 (ended March 31, 2024). Its gross profit grew 10% from the year-ago value to ¥820 billion ($5.22 billion).
The company's profit attributable to owners of the parent and <a href="https://www.investopedia.com/terms/e/eps.asp">earnings per share</a> attributable to owners of the parent amounted to ¥44.10 billion ($280.99 million) and ¥72.55, respectively, in the same period. Also, its cash flow from operating activities increased 58.9% year-over-year to ¥125.60 billion ($799.65 million).
Street expects RICOY's revenue for the quarter ending September 30, 2024, to increase 0.3% year-over-year to $3.84 billion. Its revenue for the fiscal year 2024 is expected to reach $15.37 billion, registering an impressive 337.9% year-over-year improvement. The company surpassed consensus revenue estimates in three of the trailing four quarters, which is impressive.
RICOY has gained 7.5% over the past three months and 14.9% year-to-date to close the last trading session at $8.85.
RICOY's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has an A grade for Value and Stability and a B for Momentum. It is ranked #9 out of 37 stocks in the <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry. <a href="https://stocknews.com/stock/RICOY/">Click here</a> to see the additional POWR Ratings for RICOY (Growth, Sentiment, and Quality).
Ribbon Communications Inc. (<a href="https://stocknews.com/stock/RBBN/">RBBN</a>)
RBBN provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments: Cloud and Edge; and IP Optical Networks.
On April 24, RBBN announced a new multi-year Verizon Network Modernization program to retire legacy TDM switching platforms and replace them with modern cloud-based technologies.
This initiative is expected to drive a recovery in broader Service Provider spending and fuel continued growth in the Enterprise sector, including new U.S. Federal projects. Through these efforts, RBBN anticipates a return to growth for its Cloud &amp; Edge segment.
In terms of forward non-GAAP P/E, RBBN is trading at 12.27x, 47.4% lower than the industry average of 23.32x. Likewise, its forward EV/Sales and EV/EBIT multiples of 1.00 and 8.86 are 64.9% and 57.2% lower than the industry averages of 2.86x and 20.71x, respectively.
For the fiscal first quarter that ended March 31, 2024, RBBN's total revenues amounted to $179.66 million, while its gross profit increased 12.9% year-over-year to $91.96 million. Non-GAAP adjusted EBITDA came in at $11.70 million compared to an adjusted EBITDA loss of $2.42 million in the prior year quarter. Also, its net cash provided by operating activities stood at $13.10 million, up 17.7% year-over-year.
Analysts expect RBBN's revenue and EPS for the third quarter (ending September 2024) to increase 7.8% and 55% year-over-year to $219.06 million and $0.08, respectively.
Over the past six months, the stock has gained 47.4%, closing the last trading session at $3.14.
It is no surprise that RBBN has an overall rating of B, equating to Buy in our proprietary rating system.
It also has a B grade for Growth and Value. Out of 45 stocks in the <a href="https://stocknews.com/category/technology-communication-networking/">Technology - Communication/Networking</a> industry, it is ranked #4. Beyond what we have stated above, we have also given RBBN ratings for Momentum, Stability, Sentiment, and Quality. Get all RBBN ratings <a href="https://stocknews.com/stock/RBBN/">here</a>.
ON24, Inc. (<a href="https://stocknews.com/stock/ONTF/">ONTF</a>)
ONTF provides a cloud-based digital engagement platform enabling businesses to convert customer engagement into revenue through global interactive webinars, virtual events, and multimedia content experiences.
On May 16, the company announced that it had been recognized as the leading platform for virtual events in the G2 Spring 2024 Reports for the fifth consecutive year, thanks to its strong customer satisfaction and ROI.
In terms of forward EV/Sales, ONTF is trading at 0.41x, 85.6% lower than the industry average of 2.86x. Also, its forward Price/Sales and Price/Book multiples of 1.73 and 1.61 are 39.8% and 57.5% lower compared to the industry averages of 2.87x and 3.80x, respectively.
During the first quarter that ended March 31, 2024, ONTF reported a total revenue of $37.73 million, of which revenue from subscription and other platform was $34.83 million. Its non-GAAP gross profit was $28.94 million for the quarter.
The company's non-GAAP net income was $953 thousand or $0.02 per share, against a non-GAAP net loss of $1.83 million or $0.04 per share in the prior year's quarter. Also, its adjusted EBITDA amounted to $313 thousand compared to the year-ago adjusted EBITDA loss of $2.86 million.
According to the financial outlook for the fiscal year 2024, ONTF expects core platform revenue, including services, to be between $139.80 million and $143.80 million. Its total revenue is expected to be between $143 million and $147 million.
For the fiscal year 2025, ONTF's EPS is expected to be $0.09, representing a 92.8% improvement year-over-year. Its consensus revenue estimate for the next year is $144.62 million. Shares of ONTF have declined 9.9% over the past month to close the last trading session at $5.94.
ONTF's POWR Ratings reflect solid prospects. The stock has an overall B rating, equating to Buy in our proprietary rating system.
It also has a B grade for Value and Sentiment. It is ranked #15 out of 79 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry. To see the other ratings of ONTF for Growth, Momentum, Stability, and Quality, <a href="https://stocknews.com/stock/ONTF/">click here</a>.
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<hr />
RICOY shares closed at $8.85 on Friday, down $-0.04 (-0.45%). Year-to-date, RICOY has gained 14.87%, versus a 11.30% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/ricoy-rbbn-ontf-3-tech-stocks-under-10-with-high-upside-potential/>3 Tech Stocks Under $10 With High Upside Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Under $10 With High Upside Potential

The tech market is experiencing strong growth owing to government support and the rapid development of AI-related hardware and software. Amid this backdrop, investors could invest in fundamentally sound tech stocks Ricoh Company (RICOY), Weave Communications (WEAV), and AstroNova (ALOT), which are currently trading under $15. Continue reading... With the wide adoption of cutting-edge technologies like AI, integration of digital technologies, and increasing spending, the tech industry is on the front foot to contribute to worldwide growth and development. Also, its evolving application across all aspects of life broadens its possibilities.
Given the industry's bright outlook, it could be wise to invest in fundamentally strong tech stocks Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>), Weave Communications, Inc. (<a href="https://stocknews.com/stock/WEAV/">WEAV</a>), and AstroNova, Inc. (<a href="https://stocknews.com/stock/ALOT/">ALOT</a>), which are currently trading under $15.
The tech industry is growing at lightning speed, encompassing all aspects of our lives. In recent times, the technology market has made innumerable breakthroughs across diverse segments, including the healthcare, biotech, industrial, energy, software, and retail markets, with the rapid adoption of AI and other cutting-edge systems.
As per a research report by <a href="https://www.bain.com/about/media-center/press-releases/2024/market-for-ai-products-and-services-could-reach-up-to--$990-billion-by-2027-finds-bain--companys-5th-annual-global-technology-report/">Bain &amp; Company</a>, the market for AI-related hardware and software is projected to grow between 40% and 55% every year, totaling between $780 billion and $990 billion by 2027. Also, the government's attention towards powering American innovation is visible in <a href="https://www.whitehouse.gov/ostp/news-updates/2024/03/13/fact-sheet-president-bidens-2025-budget-invests-in-science-and-technology-to-power-american-innovation-expand-frontiers-of-whats-possible/">President Biden's 2025 Budget</a>, providing robust investments in AI R&amp;D.
These favorable trends have also accelerated investments and spending by tech companies in innovative technologies. <a href="https://www.gartner.com/en/newsroom/press-releases/2024-07-16-gartner-forecasts-worldwide-it-spending-to-grow-7-point-5-percent-in-2024">Gartner projects worldwide IT spending</a> to total $5.26 trillion in 2024, exhibiting a 7.5% growth from the previous year.
With this, the information technology market is expected to grow to $12.42 trillion in 2028, at a <a href="https://www.researchandmarkets.com/reports/5781249/information-technology-global-market-report">CAGR of 8.3%</a>, driven by globalized IT services, digital transformation, cybersecurity innovations, and changing e-commerce. Also, the revenue in the application development software market is anticipated to reach $250 billion by 2029, <a href="https://www.statista.com/outlook/tmo/software/application-development-software/worldwide">showing a 6.5% CAGR</a>.
Given these encouraging trends, let's delve deeper into the fundamentals of top tech stocks: RICOY, WEAV, and ALOT.
Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>)
Headquartered in Tokyo, Japan, RICOY provides office, commercial printing, and related solutions globally. The company operates in Digital services; Digital Products; Graphic Communications; Industrial Solutions; and Other segments.
In terms of forward EV/Sales, RICOY is trading at 0.48x, 83% lower than the industry average of 2.82x. Also, the stock's forward <a href="https://www.investopedia.com/terms/e/ev-ebitda.asp">EV/EBITDA</a> multiple of 7.28 is 49% lower than the industry average of 14.28. Also, its forward Price/Sales of 0.37x is 86.9% lower than the industry average of 2.83x.
On September 19, RICOY concluded a memorandum of understanding (MOU) with LG Electronics to collaborate on digital solutions for workplaces. The partnership will deliver elevated user experience and exceptional customer value for the B2B customers in the global market. Through the partnership, RICOY will further enhance its capability in the Workplace Experience domain.
RICOY's net sales increased 7.4% year-over-year to ¥574.38 billion ($3.99 billion) for the fiscal first quarter, which ended June 30, 2024, and its operating income was ¥6.33 billion ($43.95 million) for the period. Also, profit attributable to owners of the parent amounted to ¥7.80 billion ($54.12 million).
Street expects RICOY's revenue for the second quarter (ending September 2024) to increase 10.4% year-over-year to $4.22 billion. The company's revenue for the fiscal year (ending March 2025) is expected to grow 390.8% year-over-year to $17.22 billion. Furthermore, the company surpassed the consensus revenue estimates in three of the trailing four quarters.
Shares of RICOY have increased 11.8% over the past six months and 12% over the past year to close the last trading session at $10.27.
RICOY's robust growth prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Stability and Value. Within the <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry, RICOY is ranked #11 out of 41 stocks.
<a href="https://stocknews.com/stock/RICOY/">Click here</a> to access additional ratings of RICOY for Quality, Growth, Sentiment, and Momentum.
Weave Communications, Inc. (<a href="https://stocknews.com/stock/WEAV/">WEAV</a>)
WEAV offers a customer experience and payments software platform. The company's platform allows small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.
On August 27, WEAV announced Payment Reminders, an enhancement feature designed to help improve revenue cycle management by allowing practices to continue to collect more outstanding balances with less effort by enabling practices to turn each Weave payment invoice or Text to Pay request into a "set-it-and-forget-it" collection system.
On July 30, WEAV integrated with eClinicalWorks, the largest cloud-based EHR software in the U.S. The integration delivers additional value to WEAV customers through streamlined operational efficiency, improved patient experience, and enhanced data accuracy.
WEAV's revenue rose 21.4% year-over-year to $50.59 million during the second quarter that ended June 30, 2024. Its non-GAAP gross profit grew 28.5% from the year-ago value to $36.37 million. The company's free cash flow amounted to $21.22 million, indicating growth of 2183.8% year-over-year.
Analysts expect WEAV's revenue for the third quarter (ending September 2024) to increase 18% year-over-year to $51.38 million. For the fiscal year 2024, the company's revenue is expected to grow 18.5% year-over-year to $201.95 million. Also, the company has topped the consensus EPS and revenue estimates in all of the trailing four quarters.
WEAV's shares have gained 9.8% over the past month and 49% over the past year to close the last trading session at $12.11.
WEAV's sound fundamentals are reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has a B grade for Quality, Growth, and Sentiment. Within the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry, WEAV is ranked #21 among the 129 stocks.
In addition to the POWR Ratings we've stated above, we also have WEAV ratings for Momentum, Value, and Stability. Get all WEAV ratings <a href="https://stocknews.com/stock/WEAV/">here</a>.
AstroNova, Inc. (<a href="https://stocknews.com/stock/ALOT/">ALOT</a>)
ALOT designs develops, manufactures, and distributes specialty printers and data acquisition and analysis systems internationally. The company operates in segments like Product Identification (PI) and Test &amp; Measurement (T&amp;M).
In terms of trailing-12-month non-GAAP P/E, ALOT is trading at 30.21x, 28.6% lower than the industry average of 23.49x. Also, the stock's trailing-12-month Price/Sales multiple of 0.64 is 77.6% lower than the industry average of 2.87. Also, its trailing-12-month Price/Cash Flow of 6.64x is 65.7% lower than the industry average of 19.35x.
On June 5, ALOT and the recently acquired MTEX NS subsidiary launched groundbreaking new innovative and sustainable printing technologies. The products launched included AQUAFLEX from MTEX NS, TrojanLabel T2-PRO system, ATOM 3 by MTEX NS, FLEXPACK series by MTEX NS, and MULTI 800 by MTEX NS.
The introduced solutions expanded the company's portfolio and reinstated its dedication to driving innovation and delivering value to customers across diverse market segments.
During the second quarter, which ended August 3, 2024, ALOT's revenue increased 14.1% year-over-year to $40.54 million, and its gross profit grew 47.5% from the year-ago value to $14.33 million. The company's non-GAAP net income came in at $572 thousand and $0.08 per common share for the quarter, respectively.
Furthermore, the company's total current assets stood at $83.06 million as of August 3, 2024, compared to $76.67 million as of January 31, 2024.
ALOT's stock has soared 5.6% over the past year to close the last trading session at $12.99.
ALOT's POWR Ratings reflect its robust outlook. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
ALOT has an A grade for Value. The stock also has a B grade for Growth and Sentiment. It is ranked #4 among the 41 stocks in the Technology - Hardware industry.
<a href="https://stocknews.com/stock/ALOT/">Click here</a> to access additional ALOT ratings for Stability, Quality, and Momentum.Top of Form
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
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&nbsp;

<hr />
RICOY shares were trading at $10.27 per share on Thursday afternoon, down $0.26 (-2.42%). Year-to-date, RICOY has gained 33.30%, versus a 21.54% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/ricoy-weav-alot-3-tech-stocks-under-15-you-dont-want-to-miss/>3 Tech Stocks Under $15 You Don't Want to Miss</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Under $15 You Don't Want to Miss

The tech market is a strong investment due to rapid growth in AI-integrated hardware, enterprise software, and scalable solutions driving digital transformation. Given this dynamic backdrop, investors could consider strong tech stocks such as HP (HPQ), Open Text (OTEX), and Ricoh Company (RICOY), which are currently trading at discounts. Keep reading... The tech industry shows strong growth potential, driven by trends like AI-integrated hardware, advanced enterprise software, and scalable solutions that help businesses focus on core competencies. This makes tech stocks an attractive investment. Investors may want to consider fundamentally strong, discounted stocks like HP Inc. (<a href="https://stocknews.com/stock/HPQ/">HPQ</a>), Open Text Corporation (<a href="https://stocknews.com/stock/OTEX/">OTEX</a>), and Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>).
In today's digital era, software applications are essential for tech businesses, streamlining operations, boosting productivity, and enhancing decision-making with scalable, customizable, and secure solutions. These benefits drive digital transformation and long-term success. The software market is projected to grow at a 5.3% CAGR from 2024 to 2028, <a href="https://www.statista.com/outlook/tmo/software/worldwide">reaching $858.10 billion</a>.
Furthermore, tech hardware innovations, including AI-specific equipment, GPUs, FPGAs, and ASICs, are revolutionizing tech businesses by enhancing AI processing, device efficiency, and supporting AI-driven tasks. These advancements fuel growth in AI PCs, edge computing, and smart devices, boosting market sales. The IT hardware market is projected to grow at a 7.9% CAGR, reaching <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">$191.03 billion by 2029</a>.
Considering these conducive trends, let's assess the fundamentals of the three abovementioned tech stocks.
HP Inc. (<a href="https://stocknews.com/stock/HPQ/">HPQ</a>)
HPQ provides personal computing and other digital access devices, imaging and printing products, and related technologies, solutions, and services worldwide. The company operates through three segments: Personal Systems, Printing, and Corporate Investments.
On September 25, 2024, HPQ announced it acquired Vyopta, a provider of collaboration management solutions, to strengthen its Workforce Experience Platform. This move will help HPQ offer customers better analytics, monitoring, and AI-driven insights for improved employee experience and IT management.
In terms of forward non-GAAP <a href="https://www.investopedia.com/terms/p/price-earningsratio.asp">P/E</a>, HPQ's 10.70x is 55.4% lower than the 23.98x industry average. Its 0.79x forward EV/Sales is 72.8% lower than the 2.92x industry average. Similarly, its 8.13x forward EV/EBITDA is 44.4% lower than the 14.62x industry average.
In the fiscal third quarter ended July 31, 2024, HPQ reported total net revenue of $13.52 billion, up 2.4% year-over-year. Its non-GAAP earnings from operations were $1.09 billion. Moreover, the company's non-GAAP net earnings were $819 million, or $0.83 per share.
Street expects HPQ's EPS for the quarter ending October 31, 2024, to increase 3.4% year-over-year to $0.93. Its revenue for the same quarter is expected to grow 1.4% year-over-year to $14.01 billion. HPQ's stock has gained 38.3% over the past year to close the last trading session at $35.78.
HPQ's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect strong prospects. It has an overall rating of B, translating to a Buy in our proprietary system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has a B grade for Value and Quality. Within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology – Hardware</a> industry, it is ranked #12 out of 43 stocks. To access the additional POWR Ratings of HPQ for Growth, Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/HPQ/">click here</a>.
Open Text Corporation (<a href="https://stocknews.com/stock/OTEX/">OTEX</a>)
OTEX engages in the provision of information management products and services. The company offers content services and operates an experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of the customer.
On October 22, 2024, OTEX announced a major evolution of its Secure Cloud platform to drive growth for managed service providers (MSPs). The enhanced platform offers new features like automated provisioning, integrated task management, and bundled security solutions to streamline MSP operations and improve customer service.
On October 21, 2024, OTEX announced a strategic partnership with Cork Inc. to offer comprehensive cybersecurity and cyber warranty solutions for SMBs and MSPs. This collaboration enhances MSP service offerings, providing both cyber protection and financial safeguards to attract and retain clients.
In terms of forward EV/EBITDA, OTEX's 7.86x is 46.2% lower than the 14.62x industry average. Likewise, its 2.63x forward EV/Sales is 9.9% lower than the 2.92x industry average. Also, its 8.50x forward EV/EBIT is 57.5% lower than the 19.99x industry average.
In the fiscal fourth quarter ended June 30, 2024, OTEX's total revenues stood at $1.36 billion. Likewise, its cloud services and subscriptions revenue were $464.90 million, up 2.9% year-over-year. Its non-GAAP EPS stood at $0.98, indicating 7.7% growth from the prior-year quarter. Moreover, its free cash flow rose 59.2% year-over-year to $145.20 million.
For fiscal 2026 OTEX's EPS and revenue are expected to increase 16.8% and 2.7% year-over-year to $4.21 and $5.48 billion, respectively. OTEX surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past three months, the stock has gained 5.9% to close the last trading session at $33.24.
OTEX's robust fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Value. Within the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry, it is ranked #18 out of 132 stocks. To see OTEX's Growth, Momentum, Stability, Sentiment, and Quality ratings, <a href="https://stocknews.com/stock/OTEX/">click here</a>.
Ricoh Company, Ltd. (<a href="https://stocknews.com/stock/RICOY/">RICOY</a>)
Headquartered in Tokyo, Japan, RICOY provides office, commercial printing, and related solutions worldwide. The company operates through its Digital Services, Digital Products, Graphic Communications, Industrial Solutions, and Other segments.
In terms of forward EV/Sales, RICOY's 0.49x is 83.1% lower than the 2.92x industry average. Its 7.15x forward EV/EBITDA is 51.1% lower than the 14.62x industry average. Furthermore, its 0.39x forward Price/Sales is 87.1% lower than the 2.98x industry average.
RICOY's net sales increased by 7.4% year-over-year to ¥574.38 billion ($3.77 billion) for the fiscal first quarter ended June 30, 2024. Similarly, its operating profit was ¥6.33 billion ($41.51 million) for the period. The company's profit attributable to owners of the parent amounted to ¥7.80 billion ($51.15 million), or ¥13.02 per share.
Analysts expect RICOY's revenue for the quarter ended September 30, 2024, to increase 4.9% year-over-year to $4.02 billion. The stock has gained 41.4% year-to-date to close the last trading session at $10.90.
RICOY's positive outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It has a B grade for Value and Stability. Within the Technology - Hardware industry, it is ranked #10. <a href="https://stocknews.com/stock/RICOY/">Click here</a>, to get all grades for RICOY's Growth, Momentum, Sentiment, and Quality.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
HPQ shares were unchanged in after-hours trading Thursday. Year-to-date, HPQ has gained 24.26%, versus a 23.01% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/hpq-otex-ricoy-3-tech-stocks-trading-at-deep-discounts/>3 Tech Stocks Trading at Deep Discounts</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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