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It has been an up-and-down month for technology stocks, as sector-wide volatility that started in November continued throughout the past few weeks. Nevertheless, the tech sector dominated Wall Street for the majority of 2017, and as we look at the year’s highest-flying stocks, most of the recognizable names are dominant and innovative technology brands.
Considering the current state of the world, tech’s leadership makes sense. Cloud computing and the Internet of Things have already revolutionized our everyday life, and now we are on the cusp of artificial intelligence and autonomous vehicle revolutions that could redefine what it means to be human.
In response to these changing times, investors have poured money into the tech sector in search of the next explosive stock. Even with December’s volatility, we witnessed plenty of noteworthy tech companies start to pick up momentum, including several that are sporting strong Zacks Ranks and other key metrics.
Check out three tech stocks that soared this month to buy now:
1. CounterPath, Corp.
CounterPath designs desktop and mobile application software, including voice over Internet protocol, unified communications, and fixed-mobile convergence solutions. The stock is currently a Zacks Rank #2 (Buy) and has soared more than 40% over the past four weeks.
Our consensus estimate for the company’s upcoming fiscal year earnings has risen by 13 cents within the last 30 days. The firm is now expected to be profitable and improve its EPS results by over 1,000% next year. CounterPath is also witnessing cash flow growth of 16%, and its P/S ratio of 1.55 comes at a significant discount to the “Computer – Software” industry average.
eGain provides web customer interaction, social customer interaction, and contact center applications. It is a growing name within the expanding customer engagement cloud solutions space. The stock is currently a Zacks Rank #2 (Buy) and has gained over 50% within the past four weeks.
eGain is still in the red, but the firm has outperformed our estimates in two consecutive quarters. Our current consensus estimates are calling for the company to improve its EPS results at an annualized rate of 10% over the next three to five years. Revenues are expected to grow by over 7% next year, and with a P/S of 2.50, investors are getting a decent price for that sales picture right now.
SeaChange develops products that help television and broadcast companies manage, store, and distribute digital video. The company’s most recent quarter resulted in earnings that crushed our consensus estimate by over 800%. The stock is now a Zacks Rank #1 (Strong Buy) and has soared more than 48% over the past four months.
The Zacks Consensus Estimate for SeaChange’s full-year earnings has now gained 11 cents within the last 30 days. Looking towards next year, the company is projected to witness EPS growth of 33%. A renewed focus on a SaaS business model has helped the company attract customers and become more efficient.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
3 Buy-Ranked Tech Stocks That Soared This Month
It has been an up-and-down month for technology stocks, as sector-wide volatility that started in November continued throughout the past few weeks. Nevertheless, the tech sector dominated Wall Street for the majority of 2017, and as we look at the year’s highest-flying stocks, most of the recognizable names are dominant and innovative technology brands.
Considering the current state of the world, tech’s leadership makes sense. Cloud computing and the Internet of Things have already revolutionized our everyday life, and now we are on the cusp of artificial intelligence and autonomous vehicle revolutions that could redefine what it means to be human.
In response to these changing times, investors have poured money into the tech sector in search of the next explosive stock. Even with December’s volatility, we witnessed plenty of noteworthy tech companies start to pick up momentum, including several that are sporting strong Zacks Ranks and other key metrics.
Check out three tech stocks that soared this month to buy now:
1. CounterPath, Corp.
CounterPath designs desktop and mobile application software, including voice over Internet protocol, unified communications, and fixed-mobile convergence solutions. The stock is currently a Zacks Rank #2 (Buy) and has soared more than 40% over the past four weeks.
Our consensus estimate for the company’s upcoming fiscal year earnings has risen by 13 cents within the last 30 days. The firm is now expected to be profitable and improve its EPS results by over 1,000% next year. CounterPath is also witnessing cash flow growth of 16%, and its P/S ratio of 1.55 comes at a significant discount to the “Computer – Software” industry average.
2. eGain Corporation (EGAN - Free Report)
eGain provides web customer interaction, social customer interaction, and contact center applications. It is a growing name within the expanding customer engagement cloud solutions space. The stock is currently a Zacks Rank #2 (Buy) and has gained over 50% within the past four weeks.
eGain is still in the red, but the firm has outperformed our estimates in two consecutive quarters. Our current consensus estimates are calling for the company to improve its EPS results at an annualized rate of 10% over the next three to five years. Revenues are expected to grow by over 7% next year, and with a P/S of 2.50, investors are getting a decent price for that sales picture right now.
3. SeaChange International, Inc. (SEAC - Free Report)
SeaChange develops products that help television and broadcast companies manage, store, and distribute digital video. The company’s most recent quarter resulted in earnings that crushed our consensus estimate by over 800%. The stock is now a Zacks Rank #1 (Strong Buy) and has soared more than 48% over the past four months.
The Zacks Consensus Estimate for SeaChange’s full-year earnings has now gained 11 cents within the last 30 days. Looking towards next year, the company is projected to witness EPS growth of 33%. A renewed focus on a SaaS business model has helped the company attract customers and become more efficient.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>