Ho, ho, ho! Santa Claus is here with stocking stuffer stock picks, each priced at $10 or less. There is no sense in spending egregious sums of money for overpriced tech stocks with forward P/E ratios in the hundreds or higher when these bargain stocks are trading below $10…
Though the following stocks qualify as penny stocks as they are not trading in the double digits, they are certainly worthy of your attention. If even one of these stocks catches fire before or after the start of the new year, there is the potential for sizable gains.
The following stocking stuffer stocks have the potential to make your Christmas quite merry: Wipro Limited (WIT – Get Rating), Sirius XM Holdings (SIRI – Get Rating), and Zynga (ZNGA – Get Rating).
Wipro Limited (WIT – Get Rating)
It is not often that you find an IT-related stock priced under $10. WIT provides worldwide IT services, software solutions, tech assistance, and more. The company even works in hardware development. Take a look at the POWR Ratings, and you will find WIT has “A” grades in the Industry Rank and Trade Grade components along with “B” grades in the Peer Grade and Buy & Hold Grade components.
WIT is ranked fifth out of 14 stocks in the Outsourcing – Tech Services industry. WIT has a reasonable forward P/E ratio of 21.70 for a tech stock. In fact, WIT is priced only 39 cents below its 52-week high of $5.50. Though WIT slumped following the pandemic’s onset, the stock has gradually moved upward from its March low of $2.50 toward $5.50.
If WIT can continue to land key contracts in the United States and abroad, it has the potential to increase growth. However, it might take some time for the India-based IT firm to hit its stride, maximize efficiency, and win new business. The ongoing pandemic certainly bodes well for the stock as IT services are in demand across the globe due to workforces shifting toward remote work with the assistance of the cloud, VPNs, and other IT-related tech services.
Sirius XM Holdings (SIRI – Get Rating)
SIRI has held strong for three decades for a good reason: people love listening to captivating radio content while in the car, home, and elsewhere. SIRI provides commercial-free radio services throughout the entirety of North America. Furthermore, SIRI owns Pandora. This acquisition has cemented SIRI as the largest audio entertainment business in the world.
The POWR Ratings show SIRI has “A” grades in the Peer Grade and Trade Grade components along with a “B” Buy & Hold Grade grade. SIRI is ranked second out of 11 stocks in the Entertainment – Radio industry. Analysts are bullish on the stock as 8 out of 8 recommend it as a “Buy.” The average analyst price target for the stock is $7.59, indicating a potential 17% upside.
SIRI has made steady progress in the quest to return to its pre-COVID trading price of $7 to $7.50. Though the stock suffered a temporary setback in September, it has since…
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