3 "Stocking Stuffer" Stocks Priced Under $10

NYSE: WIT | Wipro Limited  News, Ratings, and Charts

WIT – With Christmas coming up, Patrick Ryan found three stocking stuffer stocks priced under $10. Wipro Limited (WIT), Sirius XM Holdings (SIRI), and Zynga (ZNGA) may be trading at a low price but have plenty of potential for gwoth.

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), Sirius XM Holdings (SIRI), and Zynga (ZNGA).

Wipro Limited (WIT)

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)

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 climbed back up to its post-virus high of $6.50 set in June. Part of the allure of SIRI is the fact that it has a subscription-based business model. In other words, SIRI customers are automatically charged, making it quite likely that they will continue to pay for service even if they do not use SIRI satellite radio with regularity.

While the recession will impact conventional radio that is mainly dependent on advertising, there is less of an impact on satellite radio services that rely on subscriptions. This means if the recession lasts through the new year, SIRI should hold strong.

Zynga (ZNGA)

There is certainly plenty of hype surrounding the launch of the new Sony (SNE) PlayStation console. However, the smart money is moving away from SNE toward more underappreciated gaming stocks such as ZNGA. ZNGA is one of the industry’s top developers, publishers, and marketers of social games. Each ZNGA title is supported long after the launch date, ensuring a gaming experience that proves rewarding well after the initial time of purchase.

Analysts have fallen in love with ZNGA. Out of the nine analysts who cover the stock, eight have it as a “Buy,” one views it as a “Hold,” and none advise selling. Analysts have set an average price target of just under $12, indicating the stock has more room to run.

Though ZNGA’s third-quarter results were disappointing, the company is developing a new studio to create its own Star Wars game. Add in the fact that the stock should receive a bounce as more people focus on games during the winter as the pandemic worsens and the future is looking quite rosy for ZNGA. 

Want More Great Investing Ideas?

“MUST OWN” Growth Stocks for 2021

Are Stocks Off to the Races in December?

7 Best ETFs for the NEXT Bull Market

WIT shares . Year-to-date, WIT has gained 39.98%, versus a 15.35% rise in the benchmark S&P 500 index during the same period.

About the Author: Patrick Ryan

Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management. More...

More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
WITGet RatingGet RatingGet Rating
SIRIGet RatingGet RatingGet Rating
ZNGAGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com

How Low Could Stocks Go?

The S&P 500 (SPY) is starting to test key support levels for the first time since November 2023 given continuing signs that Fed rate cuts are getting pushed further and further into the future. This begs the question of “how low could stocks go?” 44 year investment veteran Steve Reitmeister does his level best to answer that question including a trading plan and top picks to stay one step ahead of the market. Read on below for the full story...

3 Biotech Stocks to Buy to Power Through April

The biotech sector is primed for growth, fueled by a surge in FDA approvals, anticipated M&A deals, and the integration of AI in drug discovery. So, fundamentally sound biotech stocks Theratechnologies (THTX), Harmony Biosciences (HRMY), and Shionogi & Co. (SGIOY) might be solid buys in this month. Keep reading...

Check out These 3 Internet Stocks for Potential Gains

Amplified internet usage, technological advancements, and a rising digital transformation worldwide have driven the internet industry rapidly. To that end, quality internet stocks Wix.com (WIX), Tripadvisor (TRIP), and Yelp (YELP) could be solid buys now. Read on…

Top 3 Financial Services Stocks With Unstoppable Momentum

The financial services sector is set for solid growth owing to global economic trends, technological advancements making digital services more accessible, and changing consumer preferences.Therefore, investors could consider buying fundamentally strong financial services stocks Broadridge Financial Solutions (BR), Banco Macro (BMA), and Yiren Digital (YRD) as they look well-positioned to continue their momentum. Read more...

Updated 2024 Stock Market Outlook

The bull market continues to rage on with the S&P 500 (SPY) making new highs. That is the past...the question is what does the future hold? That is why 44 year investment veteran Steve Reitmeister provides this updated 2024 Stock Market Outlook to help you carve a path to outperformance the rest of the year. Read on below for the full story...

Read More Stories

More Wipro Limited (WIT) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All WIT News