3 Robotics Stocks to Buy Now: June 2024
Thinking of jumping into robotics stocks? These companies are worth a double-take
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The one thing with the robotics industry is it can only grow bigger. And with this growing trend, more investors are increasingly on the lookout for which robotics stocks to buy now.
More and more businesses across all manner of industries are turning to automated machines to accomplish tasks. That’s because they want to get things done faster, cheaper and with fewer mistakes. Robots in factories, for example, can help manufacture more products for far less cost and with far fewer errors.
The global robotics market is expected to reach $169.8 billion between 2024 and 2032. This shows that more industries are deploying robots in their processes — as the world moves towards automation on a broader scale than ever before.
If you’re looking to dip your toes in robotics stocks, you’re definitely in the right direction. Here are three great picks to get you started.
PTC (PTC)
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The need for immersive 3D, VR and augmented reality (AR) experiences will only increase, and there’s a genuine demand for tools that deliver these experiences.
Computer software and services company PTC (NASDAQ:PTC) is one of the leading companies in this niche and is a pioneer in forward-looking concepts such as computer-aided design (CAD). PTC’s software-as-a-service platform also allows engineers and designers to develop and test products before they go into manufacturing.
PTC pulled in $603 million in revenue — an 11.2% year-on-year bump in the second quarter, topping analyst predictions by 4.6%. Also, its earnings per share (EPS) came in at $0.95%, which was 28% above forecasts.
Investors will also be happy to know that PTC shares have a current consensus overweight rating, with 13 buy recommendations against three overweight and five hold recommendations, as compiled by MarketWatch.
Things look bullish for PTC, and it’s definitely a great robotics stock to buy now.
Deere & Company (DE)
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Deere & Co (NYSE:DE) is one of the oldest companies in the U.S. and is a leader in agricultural and construction equipment manufacturing. In recent years, the company has been making a big push into robotics, such as with its acquisition of self-driving farm tractors maker Bear Flag Robotics.
Deere & Co is already a mainstay stock — and its move towards robotics will only help it secure a bigger chunk of the market going forward.
And though the company delivered Q1 earnings that were well above expectations, it gave a less-than-optimistic outlook for 2024, citing business sales not doing as well relative to the industry.
However, it pays to zoom out a bit for a company like Deere & Co. DE stock is up 40% from $270 in early 2021 to about $380 now. Also, most companies would rather underpromise and overdeliver than vice versa. With that in mind, DE is a good choice for a robotic stock to buy now.
SoftBank Group Corp (SFTBY)
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SoftBank Group (OTCMKTS:SFTBY) is a Japanese holding company that invests in companies across robotics, AI and internet services. One of the company’s most talked-about investments at the moment is software and robotics maker Symbotic (NASDAQ:SYM).
Symbotic has had runway success selling AI-powered robotic warehouse management equipment to retail giants Walmart (NYSE:WMT), Target (NYSE:TGT) and Albertsons (NYSE:ACI).
Now, SoftBank Robotics is partnering with Symbotic in a warehouse-as-a-service joint venture called GreenBox Systems. This service will automate the supply chain. GreenBox systems will make advanced warehouse robotics accessible to companies that can’t afford to invest millions of dollars in the technology.
With a 65% stake in GreenBox, SoftBank is set to profit massively from the recurring revenues from the venture. That makes SoftBank one of the best robotics stocks to buy now.It’s also a big deal that analyst sentiment for SoftBank is overwhelmingly bullish. SoftBank stock has 12 buy ratings compared to two overweight and three hold ratings on Market Watch. That signals analysts’ confidence in the future of the company. If you are looking for robotics stocks to buy now, start here.
On the date of publication, Hope Mutie did not have (either directly or indirectly) any positions in the stocks mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com’s Publishing Guidelines.
