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Two Tech Stocks To Buy On Dips

Stock MarketsJul 15, 2021 02:30PM ET
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© Reuters. Two Tech Stocks To Buy On Dips

Lightspeed POS Inc (LSPD) and Amazon (NASDAQ:AMZN) have little in common given that one is at the beginning of its growth trajectory, while AMZN is a mature company. Taylor Dart explains why investors should consider buying both stocks on weakness.It’s been a volatile year for the Nasdaq-100 (QQQ), with the index trading in a more than 22% range from its March low to its recent high. Fortunately, the volatility has been to the upside more recently, with the QQQ up 13% in the past 30 days alone. For investors already in the market, this has provided an opportunity to book some profits into strength. However, it’s left many names trading at lofty valuations for those anxious to put money to work, with some tech names trading at sub 2% free cash flow yields and as high as 50x sales. While most growth names are pricey, some names look interesting, with one being a growth story at a more reasonable price and another being a mega-cap that is worth keeping on one’s shopping list if it re-tests its recent breakout. Let’s take a look at a couple of names below:

(Source: TC2000.com)

Lightspeed POS Inc (LSPD) and Amazon (AMZN) have little in common, with LSPD having a market cap of $10BB and in the early stages of its growth story and AMZN sporting a $1.8TT market cap and being much more mature. However, both do share one trait, impressive revenue growth and projected earnings growth, with AMZN set to double annual earnings per share between FY2020 and FY2023. Meanwhile, Lightspeed is set to be earnings positive in FY2023 ($0.04), with the potential for quadruple-digit annual EPS growth in FY2024 ($0.46). Notably, both companies are disruptors with LSPD powering the future of commerce, intending to be a commerce platform for the entire value chain with its recent acquisition of NuOrder and Ecwid.

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Two Tech Stocks To Buy On Dips
 

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