3 High-Growth Tech Stocks to Own in 2021

The majority of technology stocks had a stellar run in 2021 due to the continuing digital transformation and move to remote working. The expectational growth witnessed by some of these companies in 2020 have helped their shares skyrocket. In fact, the technology sector as a whole, has performed pretty well this year, as evident from the Dow Jones US Technology Index’s 45.8% return…

Even though the pandemic has been the primary trigger for this growth in 2020, many analysts believe that the working culture may have changed permanently. Companies are increasingly adopting cloud-based solutions and relying on software solutions for their business processes.

Companies like Atlassian Corporation (TEAM – Get Rating), IAC/InterActiveCorp (IAC – Get Rating), and Vuzix Corporation (VUZI – Get Rating) are at the forefront of this change. These companies are involved in digital media, augmented reality, and productivity solutions that are expected to gain more importance with the continued change in consumer and corporate behavior. So, it could be wise to consider owning these stocks in 2021 as they could benefit from their solid revenue and earnings growth.

Atlassian Corporation (TEAM – Get Rating)

TEAM is involved in the development and marketing of prepackaged software tools. The company offers a range of solutions for tasks such as testing and tracking code. TEAM’s stock has gained 94.5% so far this year.

TEAM has recently launched Jira Service Management, which is a new cloud-based tool for IT service management. This tool is designed to support IT processes and make them easier to implement. Jira Service Management is an upgrade on the company’s earlier offering called Jira Service Desk, which is used by more than 25000 organizations.

TEAM’s revenue grew at a CAGR of 36.1% over the last three years. TEAM is expected to see revenue growth of 14.4% for the quarter ending March 2021 and 17% in 2021. The company’s EPS is estimated to…

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