4 Dirt-Cheap TSX Stocks That Could Make You RICH!

Canadian investors should look to snatch up discounted TSX stocks like Kinaxis Inc. (TSX:KXS) and others after a sharp dip in March.

financial freedom sign

Image source: Getty Images

North American markets have bounced back nicely in the second half of March. The world economy was thrown into flux after the stunning Russian invasion of Ukraine on February 24, 2022. This triggered a series of historic economic sanctions on the Russian state, severely disrupting global energy markets. Today, I want to look at four TSX stocks that took a hit in late February and early March. It is not too late for investors to snatch up these discounted equities.

These companies are perfectly suited to address modern supply chain issues

Supply chain problems have stirred economic anxiety in Canada and the United States since late 2021. These problems have persisted since the start of the COVID-19 pandemic but appeared to reach their worst point in recent months. Interestingly, Canada is one of the world leaders in providing supply chain management and operations planning software. Below are two solid TSX stocks that operate in this space.

Kinaxis (TSX:KXS) is an Ottawa-based company that provides cloud-based subscription software for supply chain operations in North America and around the world. In recent years, its world-class software has attracted top clients like Ford, Toyota Motors, and Unilever. Shares of Kinaxis have dropped 1% in 2022 as of mid-morning trading on March 22. The stock is still up 13% from the previous year.

It unveiled its fourth-quarter and full-year 2021 results on March 1, 2022. In 2021, Kinaxis delivered total revenue growth of 12% to $250 million. Meanwhile, gross profit jumped 6% to $163 million. Kinaxis is trading in solid value territory compared to its industry peers.

On the topic of peers, TECSYS (TSX:TCS) is a Montreal-based company that is engaged in the development, marketing, and sale of supply chain management software in North America and internationally. This tech stock has plunged 34% so far this year. That has pushed the TSX stock into negative territory in the year-over-year period.

In the fourth quarter of 2021, TECSYS delivered SaaS revenue growth of 107% to $5.5 million. Meanwhile, annual recurring revenue (ARR) rose 9% to $52.5 million. Tecsys dipped into oversold territory in the middle of March. It is not too late to snag this tech stock on the dip.

Here’s a TSX stock in the healthcare space to buy on the dip

Dialogue Health Technologies (TSX:CARE) is another Montreal-based company. However, this one operates a digital healthcare and wellness platform. We are approaching the one-year anniversary of its IPO in late March 2021. Shares of this TSX stock have dropped 17% in 2022. Its stock has plunged 57% year over year.

Despite its struggles, I’m still bullish on its long-term prospects. The telehealth space delivered huge growth during the COVID-19 pandemic. This will slow as we return to some degree of normalcy, but investors should expect continued use of these digital channels to consult with health professionals. In Q3 2021, revenue surged 119% year over year to $17.2 million. Meanwhile, its adjusted EBITDA loss improved to $4.9 million.

Investors can expect to see its final batch of 2021 earnings on March 23, 2022.

One more cheap TSX stock I’d look to snatch up today

Docebo (TSX:DCBO)(NASDAQ:DCBO) is the last TSX stock I want to take a quick look at today. This Toronto-based company provides a cloud-based learning management system to train internal and external workforces, partners, and customers in North America and worldwide. Its shares have plunged 20% in 2022. However, it is still up 22% year over year.

In 2021, total revenue surged 65% to $62.9 million. Meanwhile, its adjusted EBITDA loss improved by over 200% to $2.60 million. I’m still looking to snatch up this promising TSX stock after its sharp dip in March.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Ambrose O'Callaghan owns KINAXIS INC. The Motley Fool owns and recommends Tecsys Inc. The Motley Fool recommends Docebo Inc. and KINAXIS INC.

More on Investing

A steel grain silo storage tank with solar panel in a yellow canola field in bloom in Alberta, Canada.
Dividend Stocks

Down by 26.77%: Now Might Be the Perfect Time to Buy Nutrien Stock

This TSX stock has seen share prices fall by over 26% from its 52-week highs, but it might be the…

Read more »

Woman has an idea
Dividend Stocks

2 No-Brainer Stocks to Buy Now With $7,000

Two relatively cheap cash cows are no-brainer buys for investors with $7,000 to invest.

Read more »

dividends grow over time
Dividend Stocks

Buy This High-Yield Dividend Stock in July 2024

Buy this high-yielding dividend stock to lock in inflated yield into your portfolio to generate solid passive income for years.

Read more »

Double exposure of a businessman and stairs - Business Success Concept
Dividend Stocks

Where Will Dollarama Stock Be in 3 Years?

Dollarama stock has done incredibly well during economic uncertainty, but what about when the markets recover in the next three…

Read more »

edit Woman calculating figures next to a laptop
Tech Stocks

How to Buy UiPath Stock in Canada

UiPath is a beaten-down AI stock that trades at a massive discount to its earnings growth. Is the tech stock…

Read more »

Piggy bank with word TFSA for tax-free savings accounts.
Dividend Stocks

TFSA – 2 Canadian Stocks to Buy and Hold for Tax-Free Gains

Canadian stocks like Brookfield Corp (TSX:BN) can make wise TFSA holdings.

Read more »

Doctor talking to a patient in the corridor of a hospital.
Dividend Stocks

3 Things You Need to Know if You Buy NorthWest REIT Today

This REIT holds a super high dividend yield at 7.2%, but before you invest here is exactly what investors need…

Read more »

Dice engraved with the words buy and sell
Energy Stocks

Enbridge Stock: Buy, Sell, or Hold in July 2024?

While there might be reasons to sell it, there might be good reasons to hold onto or even buy more…

Read more »