For those seeking some of the strongest and most surprising results, the best under-the-radar stocks to buy in 2023 may provide just that. While there’s nothing wrong with targeting companies that everybody else likes, the enterprises that enjoy mass support tend to feature some elements of reliability or predictability. Thus, in the end, the net profitability might not turn out to be so impressive.

On the flip side, electing the best under-the-radar stocks for growth may deliver better-than-expected gains because of the lack of predictability. Put another way, because hardly anyone expects these down-in-the-mud enterprises to do anything special, they offer discounted rates. Should they make good, investors can pat themselves on the back for a job well done.

In particular, under-the-radar stocks with a competitive advantage that goes over the head of the masses present possibly lucrative opportunities. To be sure, this arena features high risks. Still, if you can handle some volatility, these less-heralded companies can possibly offer some smiles.

RHI	Robert Half	$70.63
FOXA	Fox Corp.	$32.47
SBSW	Sibanye Stillwater	$8.69
SIRI	Sirius XM	$3.65
WRBY	Warby Parker	$10.23
UBER	Uber Technologies	$29.68
WE	WeWork	$0.41

Robert Half (RHI)

At a cursory glance, staffing services specialist Robert Half (NYSE:RHI) seems risky and irrelevant. Despite the ebb and flow, the overall performance of the labor market has been robust. Further, with unemployment being so low, theoretically, anybody that seriously wants a job can find one. Against such a powerful backdrop, jobseekers don’t need to reward middlemen entities for something they can easily do themselves.

Because of the skyrocketing inflation that materialized last year, layoffs also accelerated but primarily in the technology sphere. Recently, though, the job cuts impacted myriad other industries. Perhaps most worryingly, consumer goods giant Clorox (NYSE:CLX) announced layoffs. In other words, consumers are spending less on discretionary goods (expected behavior) and necessities (not-so-expected).

All told Robert Half may benefit due to a rise in jobseeker desperation as the pink slips start flying. Fundamentally, that’s why RHI ranks among the under-the-radar stocks to buy in 2023. For now, RHI is a consensus hold with a price target implying only 5% growth. Still, because it trades at only 11.91 times trailing earnings, RHI represents one of the under-the-radar stocks with a low valuation.

Fox Corp (FOXA)

While I wouldn’t classify Fox Corp (NASDAQ:FOXA) as a lesser-known enterprise, in my opinion, it ranks among the under-the-radar stocks with a competitive advantage because of its underappreciated upside potential. Sure, at the moment, all anyone can focus on is Fox Corp.’s Fox News cut ties with host Tucker Carlson. Given how popular he is with conservative audiences, losing Carlson seems to be bad for business.

It very well could be. However, over time, Fox Corp may have the potential to be one of the under-the-radar stocks with strong earnings. Here’s the deal. It’s easy to be a conservative firebrand because the core values of social harmony and respect represent universally appealing attributes. Therefore, being more harmonious and more respectful appears rather dull.

However, if you go on air and deliberately broadcast outlandish views, it will shock people. And some segments of the population will feel a release that finally, they can “be themselves.” Therefore, pushing the needle further may inspire more shock and therefore, more viewers.

Never underestimate the power of appealing to the lowest common denominator. Right now, analysts peg FOXA as a consensus moderate buy. Their average price target hits $37.60, implying 16% upside potential.

Sibanye Stillwater (SBSW)

A multinational metals and mining firm located in resource-rich South Africa, Sibanye Stillwater (NYSE:SBSW) features a diverse portfolio of mining and processing operations and projects across five continents. Easily one of the under-the-radar stocks to buy in 2023, few people believe in SBSW at the moment. It’s not their fault. Since the January opener, shares tumbled nearly 19%. In addition, they’re down more than 36% in the trailing year.

Fundamentally, what makes Sibanye an underappreciated name among the best under-the-radar stocks for growth centers on palladium. A leading producer of silvery metal, palladium features heavily in catalytic converters. Of course, we’re talking about combustion-powered cars, which then brings up the electric vehicle narrative.

While EVs may be the future of transportation, no one really knows when that future will arrive. Plus, few want to discuss the current limitations of EVs. For that, I recommend reading this op-ed published by the Los Angeles Times. Basically, the broader EV industry still has some ways to go before it’s truly convenient for the average driver. Thus, combustion-car-related assets could still be relevant, boding well for SBSW stock.

Sirius XM (SIRI)

On the surface, Sirius XM (NASDAQ:SIRI) might seem too beneath the surface for under-the-radar stocks to buy in 2023. A broadcasting company, Sirius provides satellite radio and online radio services. However, much of its relevancy got taken away due to the Covid-19 disaster. With people working from home, fewer folks needed Sirius for their morning and evening commutes.

Not surprisingly, SIRI represents one of the stocks that has yet to reach its pre-pandemic February 2020 heights. What’s more, since the January opener, SIRI slipped more than 36%. And in the trailing-year period, shares stumbled 39%.

However, daring contrarians might target SIRI as one of the best under-the-radar stocks for growth. Specifically, Sirius maintains an impressive three-year revenue growth rate of 10.2%, above 77.5% of its peers. Also, the market prices SIRI at a trailing multiple of 12.3, noticeably lower than the sector median of 16.13 times.

Finally, with more people returning to the office, the morning commute could return to normal, as rising vehicle miles traveled data suggests. While analysts peg SIRI as a hold, they also anticipate 45% upside potential.

Warby Parker (WRBY)

If you happen to follow securities that feature the most short interest, you’ll find that Warby Parker (NYSE:WRBY) presently inks its name on the dubious list. For those that aren’t contrarians, you generally don’t want to see bears pile into the negative side of the trade. Unfortunately for longtime stakeholders of the prescription glasses retailer, WRBY hasn’t been able to generate much positive traction. Since the start of the year, shares fell nearly 28%.

At the same time, scientists project that by 2050, about 4.76 billion people will suffer from myopia. Therefore, on a cynical basis, Warby Parker may continue to see an expanding addressable market. Here’s just my speculation. With so many people having their heads buried in devices, myopia trends may even accelerate beyond what the experts project. Again, that may benefit WRBY as one of the under-the-radar stocks with a competitive advantage.

Financially, though, we’ve got to be real. Warby Parker could use some serious work. Currently, one of the biggest problems is that the company suffers from a three-year revenue growth rate of 46.1% below parity. Also, its trailing-year profit margins also sit in negative territory. Still, analysts peg WRBY as a consensus moderate buy. On average, their price target lands at $15.88, implying over 53% upside potential.

Uber Technologies (UBER)

Since making its debut in 2019, ride-sharing giant Uber Technologies (NYSE:UBER) finds itself down nearly 29%. From this context alone, you might not think that UBER ranks among the under-the-radar stocks with strong earnings. However, in its most recent fourth-quarter 2022 report, the enterprise beat on both the top and bottom lines. It will next release its Q1 results in early May so this status might change.

Still, if it’s true that Generation Z prioritizes experiences over tangible products and traditional attainments, then UBER might also be one of the under-the-radar stocks to buy in 2023. Retail investors appear to be placing their bets, sending shares up to the tune of almost 17% since the start of Jan.

However, investors do need to be cautious. Financially, Uber has some vulnerabilities, particularly a soft balance sheet. As well, its trailing-year profit margins sit in negative territory, clouding its forward viability. Nevertheless, a major positive is its three-year revenue growth rate of 15.7%, above 68.26% of the competition. In closing, analysts peg UBER as a consensus strong buy. Their average price target pings at $48.19, implying nearly 63% upside potential.

WeWork (WE)

For the last idea on this list of under-the-radar stocks to buy in 2023, WeWork (NYSE:WE) comes with a major caveat. You only open your wallet for this bad boy as a roll of the dice at the craps table – nothing more, nothing less. If you’re betting money that you’ll miss, just pretend that this coworking space provider never existed in the first place.

I’m warning you now because buying WE could put your portfolio six feet under. In fact, it already did for early believers. As Business Insider mentioned, WeWork frittered away $46.7 billion in value. That’s impressive in an extremely macabre sense. Also, its financials signal distress in terms of its balance sheet, operations, and profitability. Since the start of the year, WE cratered by almost 69%.

However, it’s also possible that the burgeoning gig economy could also benefit WeWork in the long run. After all, head execs of major corporations probably won’t permit work from home forever. Once recalled, employees will have a choice: return or join the gig economy. Some will surely choose the latter. Interestingly, analysts peg WE as a consensus strong buy. Their average price target stands at $2.25, implying over 411% upside potential.

On the date of publication, Josh Enomoto 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.