3 Under-the-Radar Tech Stocks That Could Skyrocket in 2023

Underrated tech stocks like Kinaxis Inc. (TSX:KXS) and others are worthy targets for Canadian investors in the middle of June 2023.

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The S&P/TSX Composite Index was up 90 points in early afternoon trading on June 13. However, the S&P/TSX Capped Information Technology Index was down nearly 1% during the same trading session. Despite that, I’m still looking to snatch up under-the-radar tech stocks that are available for Canadian investors in the late spring season. Today, I want to target three tech stocks that could swell your portfolio in 2023 and beyond.

This undervalued tech stock is worth snatching up before the summer season

Celestica (TSX: CLS) is a Toronto-based company that provides supply chain solutions in North America, Europe, and Asia. Shares of this tech stock have climbed 21% month over month at the time of this writing. That has pushed the stock into positive territory so far in 2023.

This company released its first-quarter fiscal 2023 results on April 26. It delivered revenue growth of 17% to $1.84 billion. Meanwhile, adjusted earnings per share (EPS) rose to $0.47 compared to $0.39 in the previous year. Looking to the second quarter of fiscal 2023, Celestica provided revenue in EPS guidance between $1.75 and $1.90. Moreover, it projects adjusted EPS between $0.44 and $0.50.

Shares of this tech stock currently possess a favourable price-to-earnings (P/E) ratio of 11. This tech stock is trading in attractive value territory compared to its industry peers.

Here’s a cheap stock in the tech space that offers a big dividend payout

Evertz Technologies (TSX: ET) is a Burlington-based company that is engaged in the design, manufacture, and distribution of video and audio infrastructure solutions for the production, post-production, broadcast, and telecommunications markets in Canada, the United States, and around the world. Its shares have jumped 1% over the past month. The stock has climbed 2% in the year-to-date period.

In fiscal 2023, this company posted revenue growth of 29% to $441 million. Meanwhile, earnings from operations increased 75% year over year to $101 million while net earnings surged 73% to $72.7 million. For the fourth quarter, Evertz posted quarterly revenue growth of 24% to $116 million, and EPS nearly doubled to $0.25.

This tech stock currently possesses an attractive P/E ratio of 14. Meanwhile, Evertz offers a quarterly dividend of $0.19 per share. That represents a tasty 6% yield. Moreover, this tech stock boasts a fantastic balance sheet. Evertz is an excellent target for investors on the hunt for value, growth, and income in the months ahead.

One more undervalued tech stock to target today

Kinaxis (TSX: KXS) is the third and final tech stock I want to zero in on today. This Ottawa-based company provides cloud-based subscription software for supply chain operations in Canada, the United States, and internationally. This tech stock has dropped 2.4% over the past month. Shares of Kinaxis are still up 17% so far in 2023. Investors who want to see more if its recent performance can play with the interactive price chart below.

In the first quarter of 2023, Kinaxis delivered total revenue growth of 70% to $98.1 million. Meanwhile, gross profit surged 87% to $69.6 million. Adjusted earnings before interest, taxes, depreciation, and amortization soared 267% year over year to $33.1 million. Kinaxis has an immaculate balance sheet, and it is trading in solid value territory compared to its industry peers. This remains one of my favourite tech stocks on the TSX.

Fool contributor Ambrose O'Callaghan has positions in Kinaxis. The Motley Fool recommends Kinaxis. The Motley Fool has a disclosure policy.

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