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Technology stocks for you to know about, if you’re brave enough to put your money where your mouth is.
The NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT) has had a solid year to date (YTD), up 19.31 percent while the NASDAQ HealthCare Index (NASDAQINDEX:IXHC) has had a rockier year, down 18.21 percent YTD. The latter is perhaps not such a good short-term prospect but long-term could swing back.
An overview of the fintech ecosystem from BI Intelligence examines the evolving relationship between incumbents and fintechs. “Fintechs are no longer viewed exclusively as a threat, nor can they be ignored. They are increasingly viewed as partners, but that narrative alone is too simple – in reality, a more nuanced connection is taking hold.” These stocks are examples of modern mindsets taking advantage of practical applications of new technologies.
In an interview with Money Talks, PI Financial Managing Director for Technology Blake Corbet put a spotlight on these 3 Vancouver-based tech stocks:
TIO Networks (TSXV:TNC) delivers cloud based services so that customers can pay bills with immediate effect, through a variety of payment channels. They position themselves particularly for the LMI (low to moderate income) and underbanked markets. PI Financial analysts have given TIO a BUY rating with a target price of $3.35 so now is a good time to invest. They have completed phase one of integrating with Softgate Systems which has prompted a new corporate structure for TIO, now split into three ‘business units’ in order to focus on different strategic sections. These are Biller and Agent Solutions (processes payments), Telecom Solutions (service provider), Consumer Financial Solutions (B2C). This is one of many acquisitions for TIO.
Nobilis Health Corp (TSX:NHC) is a national healthcare company that analysts recommend investors BUY with a target price of $7.75, which is up from January’s figure of $7.00. This comes with an ABOVE AVERAGE risk but despite potential concerns there is always going to be demand for back pain clinics and small hospitals that provide procedures for patients nationwide. Nobilis were planning an ambitious acquisition program for 2017 but this has been scaled down. They did acquire Arizona Vein and Vascular for $22 million. Their third quarter 2016 financial results recorded a net loss of $2.8 million. Nobilis are unique for their direct marketing methods of social media, television and web marketing. This is another company with a Canadian listing and US revenues, operating in Texas and Arizona.
Diversified Royalty Corp. (TSX:DIV) approach private companies and buy royalties. A good example of this is the largest royalty the company holds, with Mr. Lube. It provides a predictable stream of cash for DIV. Corbet claims the management team are ‘very sophisticated’. They have been rated as a BUY with an unchanged target of $3.75. The YTD highs and lows haven’t fluctuated too much with the lowest hitting $1.96 and the highest at $2.79. They have recently announced they are selling restaurants business Franworks, who own Original Joe’s but were on a downwards trend. This shouldn’t alarm investors; DIV plans to wrap the sale by the end of the year and replace Franworks with a royalty of similar size.
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Securities Disclosure: I, Emma Harwood, hold no direct investment interest in any company mentioned in this article.
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