From Nasdaq: 2024-09-16 19:51:00

Technology-driven companies stand to benefit from a lower inflationary environment, with the Federal Reserve expected to cut interest rates. The Zacks Technology Services Industry is thriving, with top-performing stocks like AppLovin, Duolingo, and Docusign seeing strong growth. AppLovin’s stock has soared over 160% this year, reflecting its success as a technology platform provider for businesses.

AppLovin and Duolingo, two tech companies that recently went public, are experiencing rapid growth and profitability. Duolingo, a mobile language learning platform, has seen its stock rise over 150% in the last year, highlighting its appeal to investors. Both companies are expected to see significant top and bottom line growth in the coming years.

Docusign, known for its agreement cloud services, remains a disruptor in the industry despite a slight dip in its stock price. With EPS expected to increase in the next fiscal years, Docusign’s shares are still up nearly 30% over the last year. The company’s sales are forecasted to grow to $3 billion in the next few years.

With the Zacks Technology Services Industry poised for growth due to potential rate cuts, companies like AppLovin, Duolingo, and Docusign are attractive investment options. These stocks have strong growth trajectories and are expected to see short-term upside, making them viable long-term investments. Additionally, Zacks has identified five stocks set to double in 2024, offering investors the opportunity to capitalize on potential home runs in the market.



Read more at Nasdaq: Buy These Highly Ranked Technology Services Stocks as Rate Cuts Loom