Tech investors are likely feeling pretty good about themselves lately. Even with the recent pullback, tech stocks exploded in 2020. The pandemic drove many of these stocks up, but soon it seemed not to matter if those stocks were pandemic-related or not. But today many are anxious about whether these gains can hold up. Increasing interest rates, government cash, and eventually inflation has meant the high-growth seen in tech stocks could soon be over.
But if you’re a long-term investor, you shouldn’t worry about the recent pullback. In fact, it’s a great opportunity to increase your stake in strong companies. So here we have three great tech stocks to buy right now.
Shopify
Investors are tossing aside all tech stocks, good or bad. And that includes strong companies with stellar returns from the last few years and huge potential growth, including Shopify Inc. (TSX:SHOP)(NYSE:SHOP). The company saw an increase of 273% between the market crash and all-time highs of $1,900 per share — yet time shares are down 28% since that time!
That leaves a perfect buying opportunity for those wanting in on future gains. The company continues to report year-over-year revenue growth that soars past analyst estimates. It also continues to surprise investors with new initiatives to drive more growth. Further, its fulfillment centres, Shop Pay and other projects have made it a one-stop shop. So no wonder recurring revenue from subscriptions continues to explode.
If you were to invest $10,000 in Shopify today and see shares back at all-time highs, that would turn today’s investment into about $15,200!
Real Matters
If you want more of a deal, then I would get behind Real Matters Inc. (TSX:REAL). The company’s software solutions for mortgage and insurance lenders has been a powerhouse of growth in the last year. Shares exploded by 137% until August, and since then the stock has lost almost all of those gains.
But long-term investors should look at this as an opportunity. The company saw an increase in usage with lower interest rates, with many people renewing their loans at lower rates. This will likely continue for several years with interest rates rising, but it’s really a product that will always be a necessity! And with a price-to-book (P/B) ratio of 4.6 and price-to-sales (P/S) ratio of 2.2, this company is a valuable one to have in your portfolio.
Again, if you were to invest $10,000 into Real Matters stock today and see shares back at all-time highs, that would turn today’s investment into about $23,571!
WPT Industrial
If you’re risk averse, then you’re going to want this tech-related stock. WPT Industrial REIT (TSX:WIR.UN) supports the growth in the e-commerce industry as a light industrial property manager. The company saw revenue explode with the increase in e-commerce use, and that will only continue in the near and distant future.
Shares in WPT Industrial are already up 45% in the last year, and offer a 5.05% dividend yield as of writing. Yet its fundamentals are incredible, with a 1.1 P/B ratio and 7.1 P/S ratio. Long-term holders can look forward to years of growth and passive income from this e-commerce stock.
While the stock is near all-time highs, you can still get a slight discount and see a $10,000 investment turn into $10,921 once back at all-time highs.
