From Six Figures to Seven: 3 Robotics Stocks Set to Make Millionaires

Stocks to buy

One of the riskier but incredibly compelling opportunities, robotics stocks could be poised to mint new millionaires. It all comes down to the projected numbers.

According to Precedence Research, the global robotics technology market reached an estimated valuation of $72.17 billion in 2022. Further, experts believe that the segment could expand to $283.19 billion by 2032, implying a compound annual growth rate (CAGR) of 14.7%. That’s impressive. And that could also be understated.

Basically, robotics encompasses multiple fields. Yes, the invention implies industrial use and that’s probably where the innovation will be most concentrated. However, robotics intertwine with advancements in artificial intelligence, machine learning and other intelligent solutions.

Stated differently, the machines could soon be everywhere. On that note, below are enticing robotics stocks to consider.

Columbus McKinnon (CMCO)

Source: Shutterstock

Listed under the industrials sector – specifically the farm and heavy construction machinery subsegment – Columbus McKinnon (NASDAQ:CMCO) designs, manufactures and markets intelligent motion solutions for moving, lifting, positioning and securing materials worldwide. Per its public profile, it offers hoists, winches, hydraulic jacks and other industrial equipment.

It’s one of the lesser-appreciated robotics stocks thanks to its advancements in automotive automation. This innovative approach involves the use of computer-programmed mechanical equipment during the assembly of a vehicle. Notably, Grand View Research states that the underlying global industrial automation and control systems market size could expand to $377.25 billion by 2030.

Last fiscal year, Columbus consistently posted positive adjusted earnings. Overall, the average positive surprise during the last four quarters came out to 6.4%. For fiscal 2024, analysts anticipate earnings per share of $2.95 on revenue of $1.02 billion. In 2023, the company posted EPS of $2.94 on sales of $936.24 million.

Lastly, D.A. Davidson rates CMCO a “buy” with a $50 price target, implying 17% upside over the next 12 months.

Globus Medical (GMED)


Falling under the healthcare category, Globus Medical (NYSE:GMED) is involved in medical devices. Specifically, it develops and commercializes healthcare solutions for patients with musculoskeletal disorders. Per its corporate profile, Globus offers spine products, such as traditional fusion implants comprising multiple components. It also offers corpectomy devices for treating degenerative and congenital conditions, deformity, tumors and trauma injuries.

GMED makes the cut for robotics stocks thanks to its revolutionary robotic navigation platform, the world’s first. This innovation combines a rigid robotic arm and full navigation capabilities into one adaptable platform for accurate alignment in spine surgery. Notably, MarketsandMarkets believes that the sector could be poised to reach $33.8 billion by 2029.

For the current fiscal year, analysts believe that Globus will post EPS of $2.69 on revenue of $2.46 billion. Last year, the company posted EPS of $2.32 on sales of $1.57 billion. That’s a 57.1% implied sales upside.

Covering experts peg shares a moderate buy with a $65.90 price target, projecting over 26% growth potential. The high-side target lands at an ambitious $83.

Knightscope (KSCP)

Source: Michael Vi /

If you really want robotics stocks that could mint millionaires as quickly as possible, Knightscope (NASDAQ:KSCP) could be the idea for you. Listed under the industrials category, Knightscope operates under the security and protection services subsegment. The designs, develops, manufactures, markets, deploys and supports autonomous security robots (ASRs) in the U.S.

It’s not quite Robocop. However, it’s not too far off in terms of providing basic automated security. Here’s the situation. Right now, lots of folks don’t want careers in law enforcement due to the dangers and public scrutiny. Plus, police officers can’t be everywhere patrolling every nook and cranny. That’s where automated security robots could help act as a force multiplier.

The thing about Knightscope is that it’s an extremely risky idea. Yes, it could fly higher but it could also crash and burn. Over the past five years, KSCP stock lost 97% of equity value.

At the same time, Ascendiant rates KSCP a “buy” with a $4 price target. That implies upside potential of 749%. If you want to gamble with robotics stocks, this might be the name that could skyrocket higher.

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Read More: Penny Stocks — How to Profit Without Getting Scammed

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 Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

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