From Nasdaq, Inc.:

The S&P 500 is on the verge of setting new all-time highs, with the Santa Claus rally period on the horizon. However, some selling pressure is expected as the December surge comes to a close. Upwork, Shopify, and monday.com are three tech stocks trading at least 50% below their all-time highs, making them potential targets for investors. Upwork, a freelance work company, is slowly making a comeback as the economy and interest rate environment normalize, and has a strong balance sheet and attractive earnings growth outlook. Shopify, a provider of e-commerce infrastructure, has seen its sales decline but remains committed to boosting its bottom line, making it a Zacks Rank #1 (Strong Buy) stock. Monday.com, a low-code platform for work management, posted a strong Q3 and has a Zacks Rank #1 (Strong Buy) with an impressive earnings growth outlook. With the tech sector poised for continued growth, these three stocks could be smart choices for investors in 2024.



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