Are These Best Tech Stocks On Your June Watchlist?
Tech stocks continue to grow in the market as more progress is made in the sector. Tech stocks cover a wide range of different areas. However, top tech stocks that focus on online services have been on the rise recently. We’re living in times where many people are staying home right now. So currently online services are becoming more and more relevant in our lives.
For example, tech companies with a focus on video conferencing have been among the better performing tech stocks. This is due to people wanting to stay connected during the stay at home orders. E-commerce has been on the rise too, since retail locations have been closed. Tech companies that create the tools supporting e-commerce sites are creating more momentum for tech stocks as a result.
The technology world is ever-changing so new tech stocks are always showing up in the market. It’s unsure what will happen to tech stocks as the economy opens. Yet there is some interesting tech stocks to watch in the market. Let’s take a look at two promising tech stocks that are performing well at the moment.
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Top Tech Stocks To Watch In June: DocuSign
The first tech stock on this list is DocuSign Inc. (DOCU stock report). DocuSign is a tech company with a focus on electronic agreements. For example, if there is a contract you must sign DocuSign makes it super easy to complete it digitally. DOCU stock is relatively new to the market as they went public on the NASDAQ in April of 2018. Electronic signatures have come into demand as many businesses are closed and unable to sign documents in person.
While many businesses saw its stock price fall due to the coronavirus, DOCU stock is at an all time high. Before the pandemic began DOCU stock was trading at $89 a share. Since then, it has continuously rose higher and higher. On June 11th, DOCU stock hit an all time high of $152.97 a share.
Can DOCU Stock Benefit From The Pandemic Crisis?
DocuSign reported its revenue increasing by 39% in the first quarter, receiving 68,000 new customers. The CEO of DocuSign Dan Springer said on its earnings call, “for organizations that hadn’t already embraced DocuSign for eSignature, that were only using us for a few select use cases, the pandemic has been a catalyst for the greater digital transformation of their end-to-end agreement processes. We always believed this transformation will happen and that a unifying platform for agreements will be needed. COVID-19 is just happening faster.” DocuSign currently looks like a strong tech stock to watch that may continue to rise in the future.
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Top Tech Stocks To Watch In June: Zoom
The second tech stock to watch on this list is Zoom Video Communications Inc. (ZM stock report). Zoom has made many headlines lately with its video communication technology being used in the mainstream. Zoom has reached as far as Queen Elizabeth II is one of its users. Its software was launched in 2013, and the company became profitable in 2019. On April 30th, 2020, ZM stock went public on the market. The coronavirus pandemic has been great for Zoom’s growth and the rise of ZM stock. People have been forced to use video communication for work and for staying connected because of stay at home orders.
Shares of ZM stock were trading around $75 before the coronavirus started. Since then, it has continued to rise even with a few bumps in the road. Recently, ZM stock reached its all-time high of $231.50 a share. As of 12:04pm on June 11th, ZM stock held an average of $230.02 a share.
Now What?
It is unsure what will happen to ZM stock prices once the pandemic gets closer to ending. At the moment this tech stock continues to rise to new heights. The recent numbers that Zoom is experiencing makes this a promising tech stock to watch. Just like Zoom, DOCU stock is reaching new heights as well. These two tech companies have been very useful as businesses need to function even with numerous offices being closed. Many tech companies are profiting off of the coronavirus, as these two tech stocks are a great example of this.
