The best robotics stocks to buy are those that will continue to attract investors who are trying to future-proof their portfolios. That’s because the market could to grow 15.91% from $45.85 billion in 2024 to $95.93 billion in 2029.
Moreover, the U.S. robotics industry could reach a valuation of $7.85 billion in 2024, the most internationally. Even better for robotics stocks, institutional investors feel safer about the industry due to President Biden’s 2024 AI Executive Order., which aims to advance AI technology, ensuring its safety, security, and fairness
In industry developments, the collaboration between NVIDIA (NASDAQ:NVDA), BYD (OTCMKTS:BYDDF), and Teradyne (NASDAQ:TER) robotics is improving robot technology. This breakthrough uses NVIDIA’s Isaac robotics platform, which creates self-driving, cooperative robots with AI and modeling abilities.
Additionally, humanoid robots improve healthcare and the workplace. Amazon (NASDAQ:AMZN) and BMW (OTCMKTS:BMWYY) use these robots for dangerous or repetitive tasks to increase safety and efficiency. Plus, industrial exoskeletons are expected to grow sevenfold by 2030, helping workers avoid damage and exhaustion when moving heavy things or repeating activities.
With so much industry activity and a potential $65.59 billion market opportunity on offer by 2028, the time is ripe for investors to consider robotics stocks to buy with strong ratings, upside potential, and robust financial performance.
Teradyne (TER)
Teradyne is a premier company for testing robots and industrial automation. Each of the last 12 quarters it made more money than forecast, and it’s still growing its share of the industrial robots market.
Teradyne’s first-quarter 2024 earnings were strong. Analysts anticipated $566.31 million, but it made $599.82 million. Additionally, its 51-cent earnings-per-share (EPS) exceeded the 33-cent projections. This came as a result of memory test revenue increases countering mobility sector weakness despite a modest year-over-year reduction.
Teradyne has also shipped 8,000 J750-powered test devices, a milestone that shows the company’s semiconductor testing expertise and autonomous test capabilities. Teradyne raised its quarterly cash payout from 11 cents to 12 cents.
Meanwhile, Teradyne Robotics goods are getting AI through a relationship with NVIDIA. The agreement uses NVIDIA’s Jetson AGX Orin module for advanced AI applications to make Universal Robots and the MiR1200 Pallet Jack. When combined, this feature makes route planning and self-navigation easier in tough conditions.
In addition, Chief AI Officer James Davidson, who started in May, is another change at the top. His knowledge of AI and robotics could give the company’s joint and separate mobile robot sections new ideas.
Symbotic (SYM)
Symbotic (NASDAQ:SYM) provides warehouse automation. The company’s AI-enabled supply line robot technology has grown revenue and added clients, resulting in three profit surprises ranging from 801% to 901% in the previous four quarters.
Recent Symbotic second-quarter fiscal 2024 results showed $424.3 million in sales, above expert predictions of $412.9 million. However, it missed the projected five cents, its net loss per share was seven cents. Quarterly Symbotic adjusted EBITDA was $22 million.
Yet, Q2 earnings still surpassed analysts’ Symbotic predictions and ratings for the most part. The company’s strong performance and future possibilities led KeyBanc Capital Markets analysts to raise its fiscal 2024 profits prediction from two cents to 40 cents. Then, due to revenue and gross margin growth, Needham analysts awarded it a buy rating.
Symbotic is constantly improving and expanding its products, including the GreenBox joint effort and BreakPack solution, to sustain profits momentum. These fresh concepts boost the supply chain and help the organization reach more clients.
For its technology and growth, Fast Company named Symbotic one of 2024’s World’s Most Innovative Companies. It highlights how essential the organization is in modernizing supply chain management using robots and AI.
PTC (PTC)
PTC (NASDAQ:PTC), a leader in computer-aided design, makes software for realistic 3D, VR, and AR experiences; it boasts eight years of profitability, making it a good choice among robotics stocks to buy. In the second quarter of 2024, it beat the average estimate of 87 cents with an EPS of $1.10. Sales for the quarter were $603.07 million, exceeding expectations of $575.53 million.
Its ranking in the top 32% of 2,279 companies shows that it has a competitive edge and is stable in an extremely competitive field, confirming its status among robotics stocks to buy; PTC has a consensus strong buy rating and a 12-month price target of about $191, which is 8% higher than its current price of $178.
PTC is a star in many areas of technology, and this is well known. The IIoT SPARK Matrix from Quadrant Knowledge Solutions says it has won first place five years in a row. In their CAD Competitive Matrix Assessment, ABI Research also named it an innovator.
Meanwhile, its tools, like Windchill and Codebeamer, are used by large companies like Volkswagen Group (OTCMKTS:VWAGY) to improve their engineering and product lifecycle management.
But timing is key: PTC is on a robust rise, and first-quarter fiscal 2024 earnings have made the company more expensive than 70% of the industry, so buyers must wait for a decent opportunity.
On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
