Tech stocks to watch ahead of March 2024.
The tech sector is a dynamic and rapidly evolving component of the stock market. The sector comprises companies involved in the development, production, and distribution of technology and related services. This sector includes giants in computing, software, consumer electronics, and internet services. As a hotbed of innovation, the tech sector often leads the market in growth, driven by advancements in technology and increasing consumer and business reliance on digital solutions.
Investing in tech stocks offers the potential for significant returns, as many tech companies have shown impressive growth rates and market expansions. These stocks can be attractive to investors looking for capital appreciation and exposure to cutting-edge technologies. However, the sector is also known for its volatility. Stock prices are susceptible to market sentiment, regulatory changes, and competitive pressures. Furthermore, the rapid pace of technological change can quickly alter a company’s fortunes, making it crucial for investors to stay informed and selective in their investments.
For those considering buying tech stocks, it’s important to balance the promise of high growth with the inherent risks. Diversification within the tech sector and across other industries can help manage risk. Investors should also pay attention to company fundamentals, market trends, and long-term potential when selecting tech stocks. While the tech sector offers exciting opportunities, a cautious and informed approach is key to navigating its complexities and capitalizing on its potential. On that note, let’s explore two tech stocks to watch in the stock market now.
Tech Stocks To Buy [Or Avoid] Now
- Palantir Technologies Inc. (NYSE: PLTR)
- Datadog Inc. (NASDAQ: DDOG)
Palantir Technologies (PLTR Stock)
First off, Palantir Technologies Inc. (PLTR) is a specialized software company that focuses on big data analytics. Palantir develops software that allows organizations to integrate, manage, and secure their data. Their platforms, Palantir Gotham and Palantir Foundry, are used by government agencies, financial institutions, and healthcare organizations worldwide to solve complex data analysis challenges and improve operational outcomes.
This month, Palantir Technologies announced receiving the Dresner Advisory Services 2023 Technology Innovation Award in eight different categories. This recognition was based on the evaluation of Palantir’s decision intelligence platform across diverse areas such as AI, cloud business intelligence, and supply chain planning. The awards highlight Palantir’s excellence in data science, machine learning, data engineering, and more.
In the last month of trading action, shares of PLTR stock have increased by 44.03%. While during Wednesday morning’s trading session, Palantir Technologies stock is trading up by 0.33% at $24.61 a share.
Datadog (DDOG Stock)
Next, Datadog Inc. (DDOG) is a cloud-based monitoring and analytics platform that provides full visibility into the performance of applications and infrastructure. Datadog helps companies improve their operations and user experiences. This is done by offering monitoring services for cloud-scale applications, including real-time logs, metrics, and application traces.
Earlier this month, Datadog reported better-than-expected fourth-quarter 2023 financial results. Diving in, the company announced earnings of $0.54 per share, with revenue of $589.65 million for Q4 2023. This is versus analyst estimates which were earning estimates of $0.44 per share, on revenue of $566.70 million. Additionally, revenue increased by 25.62% compared to the same period, the prior year.
Looking at the last month of trading, Datadog stock is trading higher by 1.46%. Moreover, during Wednesday morning’s trading action, shares of DDOG stock are trading slightly lower by 0.06% at $130.80 a share.
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Originally Posted February 28, 2024 – Stocks To Consider? 2 Tech Stocks For Your List
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