Business & Investment

Five Top TSX Tech Stocks to Buy in April 2021

TSX-listed tech stocks have recently witnessed a sharp sale. Prolonged valuations and expected normalization of demand have put pressure on investor sentiment. High-end tech stocks could witness a slowdown in growth in the short term, but I’m bullish on Canada’s top tech stocks and see recent pullbacks as a great opportunity for long-term investment. I will.

I reversed some of my profits, Long term..

Dosebo

Dosebo (TSX: DCBO)(NASDAQ: DCBO) Stock prices have fallen about 38% from their 52-week high of $ 86.64, as the economic resumption shows a slight slowdown in demand. Growth may slow slightly in the short term, but I think the recent decline shows solid buying opportunities in the long run. AI-powered learning platform providers continue to grow their organic sales consistently.

Its annual recurring revenue remains strong. On the other hand, higher average contracts, new customer additions, and multi-year contracts are a precursor to growth. Sustainable momentum in the base business, additional acquisitions, product expansion, and a large addressable market could allow Docebo to continue to grow tremendously.

Absolute software

Share Absolute software (TSX: ABST) (NASDAQ: ABST) is down about 30% from its 52-week high. Despite recent sales, I’m bullish on Absolute Software, thanks to strong industry trends, increased annual recurring revenue, and a strong product pipeline.

I believe that spending on cybersecurity threats will continue to grow and provide a solid foundation for growth. Meanwhile, customer growth, high retention rates, zero debt balance sheets, and low direct competition are on track for future growth.

Shopify

Shopify (TSX: SHOP)(NYSE: SHOP) The company expects the shift to omni-channel platforms to normalize in 2021 compared to 2020, resulting in a significant decline in the value of its stocks recently. Spending on e-commerce platforms.

Shopify’s growing fulfillment network, upsell opportunities, multiple sales channels, and increasing demand for payment platforms have enabled Shopify to take advantage of the industry’s favorable trends. Meanwhile, international expansion, innovation, and operating leverage have the potential to accelerate their growth and increase inventories.

Dyes and Durham

Dyes and Durham (TSX: DND) Stocks reverse a significant portion of their profits and look attractive at current price levels. The reopening of the economy and courts suggests that demand for its products and services may continue to rise. On the other hand, its large customer base, long-term contracts, and high customer retention rates further reinforce my bullish view.

Dye & Durham is also expected to benefit significantly from its willingness to make additional acquisitions. The company has made a series of strategic acquisitions in the past, accelerating growth, expanding its geographic reach and expanding its customer base. I believe opportunistic acquisitions could continue to accelerate Dye & Durham’s growth rate over the next few years. Adjusted EBITDA, on the other hand, has the potential to grow rapidly over the next few years.

Lightspeed POS

Like that technician Lightspeed POS (TSX: LSPD)(NYSE: LSPD) Stocks have also recently witnessed a significant amount of sales, down about 25% from their 52-week highs. The sale of Lightspeed shares provides a good entry point for long-term investors.

Lightspeed may continue to offer Stellar Lumen Returns Against the backdrop of strong industry trends, rising demand for omni-channel payment platforms, and new product launches. Meanwhile, expansion in the fast-growing US market, increased acquisitions, larger scale, expanded customer base, and upsell opportunities have the potential to support finance and thus equity.

In addition to Lightspeed, see our free list of under-value stocks under $ 50 that will be available for purchase in April 2021.

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This article represents the opinion of a writer who may disagree with the “official” recommendation position of the Motley Fool Premium Services or Advisors. We are Motley! Asking investment treatises, even our own treatises, can help you think critically about your investment and make decisions to be smarter, happier, and richer. As a result, we may publish articles that may not match recommendations, rankings, or other content. ..

Stupid contributor Snehanahata There are no positions in any of the listed stocks. Tom Gardner I own a stake in Shopify. Motley Fool owns and recommends shares in Shopify and Shopify. Motley Fool owns a stake in Lightspeed POS Inc.

Five Top TSX Tech Stocks to Buy in April 2021

https://www.fool.ca/2021/04/01/5-top-tsx-tech-stocks-to-buy-in-april-2021/ Five Top TSX Tech Stocks to Buy in April 2021

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