Even with the market up big this year, there are plenty of deals to be had right now. The S&P/TSX Composite Index is sitting on an incredible 20% gain in 2021. Still, there’s no shortage of high-quality growth stocks trading at ridiculously cheap prices today.

Growth stocks led the way for investors in 2020 but it’s been a lackluster year so far in 2021. Many top growth companies have trailed the market’s return over the past 11 months. 

With a new COVID variant running rampant, I wouldn’t suggest placing any short-term bets on growth stocks this month. If you’re investing for the long term, though, this holiday season could be an excellent time to go shopping.

I’ve reviewed two market-beating tech stocks that are both trading well below all-time highs. Each of the picks is no stranger to outperforming the market and I don’t think it will be long before the growth returns. If you’ve got the time horizon and are willing to be patient, both picks should be on your watch list in December. 

Tech stock #1: Enghouse Systems

Shares of Enghouse Systems (TSX:ENGH) have been trending mostly downwards for the past 12 months. The tech stock is down close to 20% year to date. In comparison to the market’s 20% gain, it hasn’t been an easy year for Enghouse Systems shareholders in 2021.

The company designs software for all kinds of different verticals across the globe. Its Interactive Management Group segment specializes in software that helps facilitate remote work, so it’s no surprise that the tech stock surged following the market crash in early 2020. 

The tech stock may have gotten a bit ahead of itself last year, which partly explains the pullback in 2021. Today, shares are down more than 30% from all-time highs. Still, shareholders are sitting on a market-beating gain of close to 100% over the past five years. 

If you’re looking for an under-the-radar way to invest in the rise of remote work, this discounted growth stock is worth considering.

Tech stock #2: Absolute Software

Absolute Software (TSX:ABST)(NASDAQ:ABST) has had a similar trajectory to Enghouse Systems over the past two years. Shares initially exploded following the COVID-19 market crash in the spring of 2020. But after topping out in early 2021, it’s been nothing but downhill for the tech stock.

Also similar to Enghouse Systems, Absolute Software is trading well-below all-time highs. But even with a 25% loss on the year, the tech stock is still up a market-crushing 80% over the past five years. 

At a market cap less of than $1 billion, Absolute Software has plenty of room to grow in a booming industry, cybersecurity. The company specializes in end-point security, which helps protect its client’s data and devices. 

End-point visibility and control is only a small part of the growing cybersecurity industry, but Absolute Software is doing a strong job gaining market share.   

Absolute Software is another under-the-radar discounted growth stock. If you’re like me, bullish on the growth potential of cybersecurity, now’s the time to be investing. I don’t think it will be long before Absolute Software is back to all-time highs and outperforming the market.

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