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Why You Should Consider Adding These 3 Buy-Rated Small-Cap Tech Stocks to Your Portfolio

Stock MarketsNov 24, 2021 12:30PM ET
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© Reuters. Why You Should Consider Adding These 3 Buy-Rated Small-Cap Tech Stocks to Your Portfolio

The resurgence of COVID-19 cases and continuing digital transformation have been steering investors’ attention toward tech stocks. And since the low-interest-rate environment is expected to prevail in the near term, we think it could be wise to bet on quality small-cap tech stocks Gilat Satellite (GILT), Benefitfocus (NASDAQ:BNFT), and CyberOptics (CYBE). They are rated B (Buy) in our POWR Ratings system. Read on.Rising input costs, supply-chain disruption, and labor shortages have kept the tech industry under pressure. In addition, the 10-year Treasury yield rose to 1.679% following President Joe Biden’s re-nomination of Jerome Powell as Federal Reserve chairman. However, a solid third-quarter earnings season and the resurgence of COVID-19 cases have led to renewed investor interest in tech stocks. This is evidenced by the Technology Select Sector SPDR ETF’s (XLK) 6.5% returns over the past month, versus the SPDR S&P 500 Trust ETF’s (SPY) 3.2% gains.

The ongoing digital transformation and increasing use of cloud computing, artificial intelligence, and other advanced technologies should keep driving the technology industry’s growth. According to GoRemotely, the tech industry is expected to hit a $5 trillion market value by year’s end.

And given the continuing low-interest-rate environment, we think it could be wise to bet on quality small-cap tech stocks Gilat Satellite Networks Ltd. (GILT), Benefitfocus, Inc. (BNFT), and CyberOptics Corporation (CYBE). These stocks are rated B (Buy) in our POWR Ratings system.

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Why You Should Consider Adding These 3 Buy-Rated Small-Cap Tech Stocks to Your Portfolio
 

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