The pandemic taught us a lot when it comes to how we live. One area that saw an immense amount of expansion was technology. It wasn’t just Canadians having to work from home that changed, however. It was also changing the way Canadians learned from home.
Now, there is a transformation underway for how Canadians learn. And education technology is a large part of our future. While it may not be immediate, there are educational technology stocks that could see huge growth in the next few years, and beyond.
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Docebo
Probably one of the biggest growth stocks in the educational technology field in Canada is Docebo (TSX: DCBO). Docebo stock rose to prominence during the pandemic, providing a way to train employees all over the world.
Docebo stock grew further, as large businesses such as Amazon took it on. It provided a way to hire on a global scale, expanding the potential pool of applicants. As for revenue, the company works on a subscription basis for its services — software that can be changed to fit the needs of each company.
It’s continued to beat out analyst estimates over the last several quarters and has been using cash to expand. This has included acquisitions even quite recently. Shares are up 7% in the last year, but down 54% since all-time highs. So, there could certainly be more growth in this company’s future.
Thinkific Labs
Another of the top stocks in the educational technology field is Thinkific Labs (TSX: THNC), and here it’s specific to online education. The platform works with businesses and entrepreneurs to create, market, sell and deliver these online courses and learning products on a global scale.
Thinkific stock has been one of the tech stocks that went through massive layoffs to make ends meet in recently months. Shares were at about $18 just a few years ago but have since dropped down to about $2.25 as of writing. Currently, shares are down 3% in the last year.
Even so, analysts believe perhaps the company may be finally on the road to recovery — especially as investors seem to be eying up more opportunities in the tech industry during a bull market. Thinkific stock continues to grow in the meantime, reaching $29 million in gross payment volume (GPV) during the last quarter. It now has profit in its sights, with a 67% improvement in adjusted earnings before interest, taxes, depreciation, and amortization losses to $3.1 million.
Bottom line
Education is always changing, and technology is a huge part of that. These two educational technology stocks are therefore strong choices for those who believe training will grow online in the future. That’s both in terms of educating directly through learning institutions and further training in the workplace.
These two tech stocks therefore provide exposure to both of these areas, with investors potentially seeing shares prices even double in the next year or so. And as these companies continue to expand, there could be even more opportunities ahead. So, go ahead and educate yourself on the future of educational technology stocks.
