Tech stocks have had a difficult few years. These were the top growth stocks for investors, but that all seemed to come crashing down later on. It all came back to the pandemic. We had cash to blow, and tech stocks were providing growth opportunities. Yet when restrictions came to an end, investors saw their cash flow come down, followed by the market dropping as well. This led to people taking out returns — returns that, in many cases, haven’t come back.
This is why today we’re not going to look at the tech stocks that have soared upwards. Instead, we’re going to focus on tech stocks that still trade cheaply. It’s always a good time to get into the market — but when it comes to tech, investors need to consider the right tech stocks.
WELL Health
First up, WELL Health Technologies (TSX:WELL) is certainly one of the tech stocks I would consider for today’s investors. It went through a double whammy, experiencing a drop as a pandemic stock as well as a tech stock. The thing is, the company hadn’t done (and still hasn’t done) anything wrong!
In fact, WELL stock continues to expand rapidly. It’s now across North America, making acquisitions to grow even further. What’s more, it’s expanding its offerings. Not only does it provide a secure method of electronic filing, or virtual healthcare, but it also provides methods of using artificial intelligence for healthcare professionals.
Yet shares of WELL stock are about half where they should be. The tech stock is up 32% year to date but down 35% from 52-week highs. So, it’s certainly one I would pick up today — especially as it continues its domination of the tech healthcare sector.
Lightspeed Commerce
Another company that remains hugely undervalued is Lightspeed Commerce (TSX:LSPD). At its recent Investor Day, the company was able to provide a focused approach to the future of Lightspeed stock. Right now, that involves getting its current clients on board with its unified Lightspeed Payments platform.
The company already has 25% of its clients using Lightspeed Payments. However, the goal is to achieve 50% within the next two years. That alone will be huge for the company, but with even more large businesses in the restaurant and retail sector coming in, there is only room for growth for Lightspeed stock in the future.
Yet again, Lightspeed stock has seen shares trade at a fraction of where they were at all-time highs. Shares are up 21% year to date, though they have jumped up and down throughout the year. More recently, however, things look positive. Shares are up a whopping 53% since October lows, providing a reason to get in now before the company climbs higher.
Topicus.com
Another of the top tech stocks to consider is Topicus.com (TSXV:TOI). I would choose this over its parent Constellation Software at this point, only because it’s so cheap! Topicus stock has so much more room to grow; it is basically a baby CSU stock at this point.
The company is working in Europe to become a software acquisition powerhouse, just like its parent company. Meanwhile, CSU management continues to help the company expand rapidly as well. So, if you wish you had bought CSU stock before such huge growth, then consider Topicus stock today.
Shares are now up 38% year to date but have a lot more room to run. Plus, shares have come down from 52-week highs, offering a chance to dive in during the most recent rally.
