Discovering which tech stocks to buy can be tricky in today’s market.

It’s no secret that equity markets this year have faced massive turbulence. Moreover, as inflation rates remain elevated, it’s clear that the stock market’s troubles aren’t going anywhere anytime soon.

However, with the widespread market correction, there are plenty of hyper-growth tech stocks to buy with 10X potential that you could add to your portfolios.

Stocks with 10X potential usually have small market caps, vibrant leadership, and colossal market opportunities to grow into. Nevertheless, these tech stocks to buy come with a ton of risk which is perhaps doubly important to consider now.

However, greater risk means a more significant opportunity for long-term returns. Investing in stocks with moonshot potential will perhaps always remain a relevant idea. Having said that, here’s a look at the most promising tech stocks to buy with 10X potential.

DM	Desktop Metal	$3.18
SOFI	SoFi	$5.91
UPST	Upstart Holdings	$25.63
PUBM	PubMatic	$19.59
KIND	Nextdoor Holdings	$3.12
OPEN	Opendoor Technologies	$4.37
MQ	Marqeta	$7.82

Desktop Metal (DM)

Desktop Metal (NYSE:DM) is a 3D printing company that has been crushed in the stock market this year and has been growing at an incredible pace of late.

It’s striving to improve its business process efficiency with the thought of bringing it to scale.

It continues to add new solutions to its business, such as FreeFoam, 3D printable foam that can manufacture at scale. This particular niche is worth close to $120 billion.

The company recently reported a strong top and bottom-line beat versus consensus estimates. It reported another quarter where it reported tremendous top-line strength. Revenues came in at $57.7 million, an amazing 200% growth from the prior-year period.

The sales figure was a record quarterly number for the company, which ended the quarter with a healthy $255.7 million in its cash till. It was sufficient to keep its operations from going well into the next year and growing at similar rates for the foreseeable future, making it among the best long-term tech stocks to buy.

SoFi (SOFI)

SoFi (NASDAQ:SOFI) is a fintech disruptor that has been a trailblazer in its niche. Following its IPO last year, it was dismissed as a meme stock, but its earnings results show otherwise.

The firm’s loan segment has operated lower than 50% due to its moratorium, and with its end, it could be a major growth catalyst in loan originations. The fintech firm is poised to have a massive 2023, with a full-year bank charter, a pause in student loans and cost savings.

Since the second quarter of 2022, it added over 315% new products. Sales have shot up from $136.5 million in the second quarter of 2020 to $356 million in the second quarter of 2022. Sales from its lending segment over the past couple of years have soared over 200%, while contribution profits increased by over 3,300% to $141.99 million.

Upstart Holdings (UPST)

Fintech Company Upstart Holdings (NYSE:UPST) had been a high-flier during the pandemic, but with interest rates near record levels, its top and bottom-line growth have been severely compromised.

The firm’s bank and credit union partners have been remarkably hesitant in taking risks amidst the deteriorating credit conditions.

The company uses an AI-driven system to originate loans for its partners. The goal is to effectively deliver a more inclusive and effective mechanism than the FICO credit scoring system.

As per the second quarter results, its algorithm has improved immensely in accuracy this year in its ability to separate high and low-risk offerings.

UPST reported a triple-digit increase in its partnerships with banks, automotive and financial platforms. As we advance, it looks at a $6 trillion opportunity and has plenty of wiggle room to come out of the current crisis unscathed.

PubMatic (PUBM)

PubMatic (NASDAQ:PUBM) is an ad-tech giant that specializes in sell-side advertising.

Its platform effectively allows the leading digital content creators to control inventories effectively and increase monetization by driving return on investments and reach.

The company recently released stellar second-quarter results, wherein its revenues increased by 27% on a year-over-year basis to $63 million. It was a substantial acceleration from the first quarter growth of 25%.

Additionally, its net income came in at $7.8 million. These results far exceeded those released by its peers. The results were mainly driven by its growing scale of operations and a greater revenue mix involving high-margin video formats along with cost optimization plans.

Consequently, its full-year adjusted EBITDA ranges between $103 million and $108 million, or a superb 38% margin from the midpoint.

Nextdoor Holdings (KIND)

Nextdoor Holdings (NYSE:KIND)  is a digital platform that connects its businesses, citizens and over 290,000 neighborhoods, including roughly one-third of U.S. households.

The platform monetizes its network through ad placements from small and medium-sized businesses with a presence in the local community through newsfeeds, search listings and emails. It boasts a platform user base of more than 30 million people actively using it for at least a week.

The social network has evolved over the past few years but still remains in its early stages of monetization. However, it’s been posting some impressive numbers of late, which point to a strong growth runway ahead.

The rising macro uncertainty, inflation, and labor-related bottlenecks resulted in a relatively weak second-quarter showing. Nevertheless, its long-term case remains exciting.

Opendoor Technologies (OPEN)

Opendoor Technologies (NASDAQ:OPEN)  is a digital real estate platform aiming to disrupt the traditional real estate market.

It has experienced rapid growth over the past several quarters, but the current macroeconomic environment has slowed down expansion. Nevertheless, the demographic dynamics in the U.S., along with the shifting real estate market from offline to online, are likely to create massive long-term opportunities for the firm.

Though a relatively weak quarter compared to its lofty standards, Opendoor generated close to $4.2 billion in sales representing 250% growth on a year-over-year basis. Contribution margins of 10.1% comfortably beat the 10.8% margin it made in the second quarter of last year.

Also, it purchased 14,135 homes, up 66% from the same quarter last year. Additionally, Zillow, which used to be one of its biggest competitors, announced a major long-term partnership with the business. It will enable sellers on the platform to effectively request an Opendoor offer.

Marqeta (MQ)

Marqeta (NASDAQ:MQ) is essentially a mobile card issuing business that acts as a bridge between payment processors and innovative financial products.

A wide variety of companies from different industries will need to rely on Marqeta in effectively integrating AI, machine learning and cryptocurrencies to issue payments and move money. Its operating system enables users to build innovative solutions that capture more sales and drive greater engagement.

Its products are sticky, enabling customers to move money effectively while controlling the flow of funds effectively. Moreover, its customers can leverage the platform to process more inflows and outflows, leading to more sales.

Over the past decade, it has built a solid clientele, processing over $130 billion in sales volume over the past year. Hence, its long-term positioning remains incredible, with a massive growth runway ahead.

On the date of publication, Muslim 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.