While tech stocks may be up still in the last year, the recent pullback means there are opportunities for investors. The tech stocks I’m going to cover here still have ample room for growth and currently trade below 52-week highs. So, let’s look at some stellar options you can buy with even just $400.
BlackBerry
This is one of the riskier stocks, but given BlackBerry’s (TSX:BB)(NYSE:BB) share price, you could definitely afford to put $400 towards this stock and see what happens. The company currently sports valuations of 5.7 times sales and 3.4 times book value, making it a cheap stock given future growth.
The company continues to make deals with huge business and governments to boot. Most recently, it inked a deal to provide its cybersecurity software to the Canadian government. It also has a partnership with Amazon Web Services to develop and market its IVY platform. While you may not see revenue come in this year, down the line, expect some massive numbers.
Even if shares just jumped back to 52-week highs of $36 per share, at today’s prices, that would turn $400 into $1,309!
Docebo
Talk about coming along at the right time. Docebo (TSX:DCBO)(NASDAQ:DCBO) and its Software-as-a-Service (SaaS) learning system was exactly what employers needed during the pandemic. The company has made partnerships with Amazon Web Services to supply its software, showing just how strong this company is. And it’s only the beginning!
The market pullback in tech means this stock is definitely undervalued, given its 52-week highs. Shares are up about 300% as of writing, but down 27% from 52-week highs. That gives investors the perfect opportunity to jump in on this stock. Given that it’s a young company, you could see enormous returns when held for the long term.
If shares went back up to those 52-week highs, you would turn $400 into $606.48 as of writing.
Lightspeed
I feel like many investors believe they’ve missed the boat with Lightspeed POS (TSX:LSPD)(NYSE:LSPD). That’s so not true! The company is in its infancy, with so much potential ahead. The company continues to see revenue come in from subscription services through its e-commerce platform, but it also benefits from brick-and-mortar locations. This means you can get revenue from every source!
But the company isn’t done growing, finding new methods of bringing in cash through payments and, of course, its ever-expanding network. Shares are up 418% in the last year but have come down about 12% since all-time highs. While shares are close to those highs, this company has a long road of growth ahead.
Just reaching those highs again would turn $400 into about $472.50 as of writing.
Kinaxis
While there’s been a tech pullback, it hasn’t been warranted for a company like Kinaxis (TSX:KXS). The company saw major growth from enterprise companies signing on to the supply chain-management provider. And these are subscriptions. Given the company’s client-retention rates, this is all recurring revenue investors can look forward to for years.
Yet after massive share growth, still up 32% in the last year, shares plummeted by 30% in the last few months! But when the tech rebound happens, this is a company that will likely see a strong boost in share price. That makes this the perfect long-term hold to see years of returns.
Investing that $400 and holding on until at least those all-time highs would turn into about $575 at today’s prices.
