Image source: Getty Images.<\/p>\n
The TSX would be lower than 19,000 to start this week if not for the 6.57% advance of tech stocks in the last five trading days. While the sector is still deep in the red (-35.86% year to date), some of its constituents have positive gains already. However, tech giants like Shopify, Lightspeed Commerce, and Nuvei arent the rising growth stocks. <\/p>\n
Absolute Software (TSX:ABST)(NASDAQ:ABST) and Softchoice (TSX:SFTC) are up more than 5% year to date, while Evertz Technologies (TSX:ET) is likely to turn green very soon. It seems their slump is over, and they could be the tech winners in 2022.<\/p>\n
Absolute Software trades higher at $12.30 per share on account of a 10.81% advance in 10 days. While the trailing one-year price return is -28.15%, the year-to-date gain is now 5.33%. The $627.77 million dividend-paying company (2.64%) provides self-healing endpoint and secure access solutions to help customers strengthen their cyber resilience.<\/p>\n
After three quarters in fiscal 2022 (nine months ended March 31, 2022), total revenue is US$144.8 million or 63% higher than in the same period in fiscal 2021. However, net loss reached US$19.1 million compared to the net income of US$6.7 million a year ago.<\/p>\n
Christy Wyatt, Absolute Softwares president and CEO, said, We continued to deliver strong financial results in Q3, achieving record Enterprise and Government ARR growth and breaking the $200 million ARR mark. She added that Absolute is strongly positioned to address the challenges of endpoint-centric security posture in this next chapter of hybrid work.<\/p>\n
Softchoice is an obscure name in the tech sector, but its a winner thus far in 2022. At $22.79 per share, current investors enjoy a 7.55% gain on top of a 1.58% dividend. The $1.35 billion company provides software-focused IT solutions that equips and trains customers to be agile and innovative.<\/p>\n
In Q1 2022, management reported a 7.3% sales growth versus Q1 2021. Net income reached US$3.7 million compared to the $2 million net loss in the same quarter last year. Softchoices president & CEO Vince De Palma said, We experienced a solid first quarter of organic growth including double-digit growth in our Software & Cloud solutions.<\/p>\n
For the full year 2022, Softchoice projects an 11% growth in gross profit to US$320 million. The margin of the adjusted EBITDA as a percentage of gross profit should be around 30%.<\/p>\n
Evertz Technologies impressed investors with its earnings results for fiscal 2022. In the year ended April 30, 2022, revenue and net earnings increased 29% and 73% versus fiscal 2021. This $968.88 million company designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries.<\/p>\n
Broadcasters, content creators, specialty channels and television service providers form the customer base of Evertz. This tech stock pays dividends like Softchoice, although the payout is more generous (5.66% dividend yield). Market analysts recommend a buy rating. They forecast the current share price of $12.71 (-0.83% year to date) to climb 28.5% to $16.33 in 12 months.<\/p>\n
Absolute Software, Softchoice, and Evertz Technologies are proving more resilient than TSXs non-dividend paying tech giants. Would-be investors can earn from price appreciation and receive recurring income streams.<\/p>\n
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None of the 3 Rising Growth Stocks Are Tech Giants - The Motley Fool Canada<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Image source: Getty Images. The TSX would be lower than 19,000 to start this week if not for the 6.57% advance of tech stocks in the last five trading days. While the sector is still deep in the red (-35.86% year to date), some of its constituents have positive gains already. Continue reading