Yahoo Finance 3 High-Growth Tech Stocks You Can Buy With $100
You’ll agree that tech stocks are on fire and have outperformed all other sectors so far in 2020. The TSX Information Tech Capped Index has surged over 56% in one year, thanks to the rally in most tech companies listed on the Toronto Stock Exchange.
Despite the stellar growth in tech stocks, you don’t need lots of cash to buy the shares of a few high-growth tech companies. If you have $100, here are three tech stocks that you can buy right now.
Real Matters
Shares of Real Matters (TSX:REAL) have more than doubled this year, as record-low mortgage rates have driven higher refinancing volumes and, in turn, the demand for its products and offerings. Despite the massive rally, Real Matters stock could continue to trend higher, as interest rates are projected to stay low for a considerable amount of time.
Investors should note that the lower interest rate environment has created a multi-year growth opportunity for Real Matters, which is likely to boost its sales and profitability in the coming years and lift its stock higher.
Further, the expansion of its market share, new client additions, and strategic acquisitions are likely to accelerate its growth rate and support the uptrend. Moreover, the recent retracement in Real Matters stock presents an excellent entry point for long-term investors.
Dye & Durham
Dye & Durham (TSX:DND) is another high-quality and high-growth tech stock that investors can consider buying. Shares of Dye & Durham have more than tripled from its IPO price (it listed on the TSX on July 17) and remains well positioned to sustain the uptrend in the coming years.
Dye & Durham’s cloud-based tech platform helps legal and business professionals with critical information. The demand for its offerings remains very high, as reflected through the stellar growth in its customer base. Dye & Durham has added more than 20,000 customers since October 2018, which is incredible. Its growing penetration into the blue-chip client base and lower customer churn are encouraging.
With the reopening of the courthouses, Dye & Durham’s revenues and EBITDA are expected to show strong sequential improvement. Moreover, expansion of its client base and strategic acquisitions could continue to drive its top line and, in turn, its stock.
Lightspeed POS
Next up on the list are the shares of the commerce-enabling company, Lightspeed POS (TSX:LSPD)(NYSE:LSPD). The pandemic has created a multi-year growth platform for Lightspeed, thanks to the structural shift toward omnichannel payments.
Lightspeed is witnessing a surge in demand for its cloud-based omnichannel POS (point of sale), as reflected through the rise in gross transaction volume. Its investments in innovation, targeted marketing, and seamless onboarding is likely to drive its customer base and, in turn, its growth.
The expansion beyond North America and the growing penetration of premium products are expected to support its average revenue per user and position it well to monetize its client base efficiently.
Final thoughts
Investors should note that secular industry tailwinds are likely to drive these stocks higher in the coming years. Further, their growing client bases and multi-year growth opportunities could continue to support these stocks’ uptrend.
The post 3 High-Growth Tech Stocks You Can Buy With $100 appeared first on The Motley Fool Canada.
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Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool owns shares of Lightspeed POS Inc.
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