Three Buy-Ranked Tech Stocks That Soared This Month

It has been an up-and-down month for technology stocks, as sector-wide volatility that started in November continued throughout the past few weeks. Nevertheless, the tech sector dominated Wall Street for the majority of 2017, and as we look at the year’s highest-flying stocks, most of the recognizable names are dominant and innovative technology brands.

Considering the current state of the world, tech’s leadership makes sense. Cloud computing and the Internet of Things have already revolutionized our everyday life, and now we are on the cusp of artificial intelligence and autonomous vehicle revolutions that could redefine what it means to be human.

In response to these changing times, investors have poured money into the tech sector in search of the next explosive stock. Even with December’s volatility, we witnessed plenty of noteworthy tech companies start to pick up momentum, including several that are sporting strong Zacks Ranks and other key metrics.

Check out three tech stocks that soared this month to buy now:

1. CounterPath, Corp. (CPAH – Free Report)

CounterPath designs desktop and mobile application software, including voice over Internet protocol, unified communications, and fixed-mobile convergence solutions. The stock is currently a Zacks Rank #2 (Buy) and has soared more than 40% over the past four weeks.

Our consensus estimate for the company’s upcoming fiscal year earnings has risen by 13 cents within the last 30 days. The firm is now expected to be profitable and improve its EPS results by over 1,000% next year. CounterPath is also witnessing cash flow growth of 16%, and its P/S ratio of 1.55 comes at a significant discount to the “Computer – Software” industry average.

2. eGain Corporation (EGAN – Free Report)

eGain provides web customer interaction, social customer interaction, and contact center applications. It is a growing name within the expanding customer engagement cloud solutions space. The stock is currently a Zacks Rank #2 (Buy) and has gained over 50% within the past four weeks.