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    Best Tech stock to buy now for 2022

    By Ali Hassan

    May 02,2022

    4:06 AM UTC

    The technology sector is vast, comprising gadget makers, software developers, wireless providers, streaming services, semiconductor companies, and cloud computing providers, to name just a few. Any company that sells a product or service heavily infused with technology likely belongs to the tech sector and it can come on the list of best tech stocks to buy.

    Tech stocks have had a rough start to the year as treasury yields have spiked. The technology-heavy Nasdaq Composite has fallen around 4.5% since the start of the year. However, the general sentiment of the marker is that tech companies will continue to power up this year, thanks to several emerging technologies.

    Tech stocks offer you growth and with the rising digital economy, the opportunities are increasing. The best tech stocks come from companies that are building the future. Whether they manufacture sleek mobile devices or develop digital services you can’t live without them. Fast-growing technology stocks can set portfolios into hyperdrive.

    To help you take advantage of the massive opportunities in technology stocks, we’ve gathered the five best tech stocks to buy in early 2022.
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    Palo Alto Networks (PANW)

    Palo Alto Networks (PANW) is a cybersecurity specialist. It’s about a $40 billion company and a lot of people have heard of them. Annual sales are in that $5 billion range. PANW is a good tech stock to keep on your radar.

    The company has been expanding its portfolio over the last few years and launching a lot of new products. Palo Alto covers some major areas including network security and cloud security. Digital security has become a crucial area over the last few years as so much more businesses shifted online.

    Palo Alto Networks has got a lot of good things in terms of user engagement and growing portfolio. That opens different avenues for growth. The company has over 900 paying customers right now with contracts that are over one million and 43 clients that are over that 10 million mark. Both those numbers are rising swiftly.

    In December 2021, PANW announced that it has joined the Nasdaq-100 Index. The index consists of the top 100 largest domestic and international non-financial companies on the Nasdaq exchange. Following this news, the company announced the appointment of Helmut Reisinger to the position of CEO for Europe, the Middle East and Africa, and Latin America.

    With things shaping up in the online space in such a robust manner, Palo Alto Networks is on the right path for growth. Citigroup has rated PANW stock as a buy with a price target of $585, making it to be the in the list of best tech stock to buy.

    Intuit Inc. (INTU)

    Intuit Inc. (INTU) offers its mission-critical software to clients for free. The company serves business and financial management products to small and self-employed businesses. Known for its famous software that includes QuickBooks online, desktop software TurboTax, and Mint products for consumers. INTU stock has become a SaaS heavyweight in recent years and a favorite among retail investors.

    The company acquired Mailchimp email marketing software for $12bn late last year. This should help massively grow its target market. Despite a recent correction in the tech industry, INTU stock has still risen nearly 40% over the past year.

    Recently, Intuit announced Bill Negotiation in Mint. For those unaware, Mint is a personal financial management website and mobile app for the U.S. and Canada. In collaboration with ApexEdge’s Billshark, Mint suggests areas where users can save on monthly payments. Moreover, it associates them with Billshark to negotiate rates on their behalf. With almost everything being on subscription now, it is difficult to keep track of payments and changing rates. Therefore, this service would benefit many consumers who are overpaying on monthly payments and subscriptions.

    INTU is also not resting on its laurels. QuickBooks has also announced two new products that provide small businesses and their employees with faster access to their money. It would give them greater cash flow flexibility that allows them to build on their business momentum for success.

    Intuit is a profitable company and its stocks are one of the best tech stocks. Goldman has a buy rating for INTU stock with a price target of $840.

    Oracle Corporation (ORCL)

    Oracle Corporation (ORCL) is a tech giant that specializes in enterprise information technology. For the most part, the company’s businesses include cloud and license, hardware, and services. Oracle’s technologies enable clients to build, manage, and support their internal and external products and services.

    Investors will be hoping for strength from Oracle as it approaches its next earnings release. It is expected that Oracle will post earnings of $1.17 per share. This would mark year-over-year growth of 0.86%. Meanwhile, the latest consensus estimate is calling for revenue of $10.51 billion, which is up 4.21% from the prior-year quarter.

    In the previous quarter, Oracle reported total revenue of over $10.3 billion, a year-over-year increase of 5.7%. However, despite the small increases, the company’s stock still managed to grow by over 40% last year.

    In December 2021, Oracle made waves in the healthcare IT world when it announced its plans to acquire Cerner. Cerner is a healthcare company that is a supplier of health information technology services, devices, and hardware. Oracle is to acquire Cerner for about $28.3 billion in equity value. This acquisition will provide Oracle with heaps of health data to train and improve its artificial intelligence-based cloud services. Ultimately, this would help boost the company’s footprint in the health care sector.

    Oracle is a profitable company with a lot of upsides in ORCL best tech stock heading forward.

    JFrog Ltd. (FROG)

    JFrog (FROG) provides DevOps platform to achieve a continuous software release management platform. FROG has built a platform that manages the development and monitoring of software, whether it’s in an on-premise or cloud environment.

    JFrog’s go-to-market strategy has traditionally been organic, relying on adoption from developers. It has delivered growth this way, but it did make it difficult to land larger enterprise deals.

    However, the company has bolstered its direct sales force, in part helped by the influx of funds from its 2020 IPO. JFrog ramped up spending on sales and marketing to $24.3 million in the latest quarter. That’s up from $14.8 million in the year-ago quarter. During this period, the number of customers with annual recurring revenues greater than $100,000 spiked by 49% to 466.

    FROG stock looks good based on the quarterly performances and its upcoming fourth-quarter results. The company is expected to post strong outcomes following a healthy third quarter. Jfrog would expect to post revenue between $57.5 million and $58.5 million. That would be an increase of more than 50% from the same period of 2020.

    Stifel has rated FROG as a buy with a price target of $45. Stifel analysts believe the company is well-positioned to sustain 30%-plus revenue growth in coming years that will make it one of the best tech stocks to invest in.

    Confluent Inc. (CFLT)

    Confluent (CFLT) is a software company. It offers a new category of data infrastructure designed to connect all the applications and systems of a company around a real-time central nervous system. In simple words, it delivers clients a data-rich front-end customer experience.

    Confluent has been making progress recently. In its latest quarter, the company reported a revenue of over $100 million. That was a year-over-year increase of 66%. While the net income also increased by 30% year over year.

    Late last year, Confluent announced a partnership with Alibaba Cloud. The partnership entails the availability of the Confluent Data Streaming Service on Alibaba Cloud’s platform. Notably, this will allow customers in mainland China to have a modern data streaming platform. It will enable them to harness the flow of real-time data across entire organizations.

    Confluent has pioneered a new category of data infrastructure for data in motion, with open-source technology Apache Kafka at the heart of it. The Alibaba partnership will open ways for Confluent to a bigger Chinese market.

    Moreover, CFLT has recently signed a strategic collaboration agreement with Amazon Web Services. This is a five-year agreement, upon which both the companies will help each other in accelerating their cloud adoption journey with real-time data.

    CFLT is the best tech stock that has a couple of strong catalysts that could push the stock in the near future.

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