High Growth Tech Stocks In Sweden For September 2024
In This Article:
As the European Central Bank cuts rates again amid signs of weakening economic growth and slowing inflation in the eurozone, investors are keenly watching how these macroeconomic shifts impact high-growth sectors like technology. In this context, identifying promising tech stocks involves looking for companies with strong fundamentals, innovative products, and resilience to broader market fluctuations.
Top 10 High Growth Tech Companies In Sweden
| Name | Revenue Growth | Earnings Growth | Growth Rating |
|---|---|---|---|
| Truecaller | 20.32% | 21.61% | ★★★★★★ |
| Fortnox | 20.18% | 22.60% | ★★★★★★ |
| Xbrane Biopharma | 53.90% | 118.02% | ★★★★★★ |
| Yubico | 20.52% | 42.35% | ★★★★★★ |
| Bonesupport Holding | 33.76% | 31.20% | ★★★★★★ |
| Scandion Oncology | 40.71% | 75.34% | ★★★★★★ |
| Hemnet Group | 20.13% | 25.41% | ★★★★★★ |
| Skolon | 31.76% | 121.72% | ★★★★★★ |
| BioArctic | 42.38% | 98.40% | ★★★★★★ |
| KebNi | 34.75% | 86.11% | ★★★★★★ |
Below we spotlight a couple of our favorites from our exclusive screener.
Fortnox
Simply Wall St Growth Rating: ★★★★★★
Overview: Fortnox AB (publ) offers a range of products, packages, and integrations for financial and administrative applications targeting small and medium-sized businesses, accounting firms, and organizations with a market cap of SEK38.49 billion.
Operations: The company generates revenue primarily through its Core Products (SEK734 million), followed by Businesses (SEK378 million) and Accounting Firms (SEK352 million). Additional revenue streams include Marketplaces (SEK160 million) and Financial Services (SEK249 million).
Fortnox's revenue growth, projected at 20.2% annually, significantly outpaces the Swedish market's 1%. In the past year, earnings surged by 48.1%, far exceeding the software industry's 14.5%. R&D expenses have been a focal point, reflecting SEK 82 million in recent reports, underscoring its commitment to innovation. The company's net income for Q2 was SEK 164 million compared to SEK 127 million last year, highlighting robust financial health and promising future prospects in Sweden’s high-growth tech landscape.
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Click to explore a detailed breakdown of our findings in Fortnox's health report.
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Explore historical data to track Fortnox's performance over time in our Past section.
Sectra
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Sectra AB (publ) offers solutions for medical IT and cybersecurity sectors across Sweden, the United Kingdom, the Netherlands, and other parts of Europe, with a market cap of SEK51.63 billion.
Operations: Sectra AB (publ) generates revenue primarily through its Imaging IT Solutions segment, which accounts for SEK2.67 billion, and its Secure Communications segment, contributing SEK388.55 million. The company also engages in Business Innovation with revenues of SEK90.77 million.