Wecommerce (WE) & Quisitive (QUIS): Are these 2 TSXV tech stocks a buy?

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 Wecommerce (WE) & Quisitive (QUIS): Are these 2 TSXV tech stocks a buy?
Image source: Photo by ANTONI SHKRABA

Highlights

  • The S&P/TSX Venture Information Technology (Sector) Index has sunk 17.7 per cent year-to-date
  • The WE stock has gone up almost seven per cent in the past week
  • QUIS has increased over 36 per cent in the last month and five per cent in the last week

As we entered 2022 expecting to see multiple interest rate hikes, we began to see tech stocks take a bit of beating. Some experts say tech stocks, especially of rapidly growing companies, may be particularly hit with a rise in interest rates. 

The S&P/TSX Venture Information Technology (Sector) Index has sunk 17.7 per cent year-to-date. Wecommerce Holdings Ltd and Quisitive Technology Solutions Inc are among its top 10 companies going by market capitalization. 

Let’s peer into the stocks of these two companies. 

Wecommerce Holdings Ltd (TSXV:WE)

Wecommerce Holdings owns a number of companies that support Shopify merchants. Its market cap is C$366 million. 

The stock closed at C$9.60 on Monday, April 4. Its loss in 2022 is at 33 per cent and it is trading 53 per cent below its 52-week high of C$19. Perhaps noteworthy is that it has rebounded almost seven per cent in the past week. 

Revenue for fiscal 2021 stood at nearly C$39 million, up 81 per cent. Net loss for the same period was C$842,922, much less than the C$4.4 million of the previous year.

Quisitive Technology Solutions Inc (TSXV:QUIS)

Quisitive Technology is a Microsoft solutions provider that allows companies to innovate on Microsoft Cloud. It has a market cap of C$374 million. 

On Monday, the QUIS stock closed at C$1.05. The stock has lost 10 per cent this year but has soared over 36 per cent in the last month and five per cent in the last week.  

It is still almost 47 per cent below its 52-week high of C$1.97. Its debt-to-equity ratio is 0.39. 

Also read: Couche-Tard (ATD) & Metro (MRU): 2 TSX consumer stocks to eye in April 

 Wecommerce (WE) & Quisitive (QUIS): Are these 2 TSXV tech stocks a buy?

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Bottom line

By some parameters, these two TSXV stocks seem to be on the rebound but that it is not to say that they will definitely continue to rise. Investment in any stock, and especially so a tech stock, merits a lot of research into a company and the sector. The sector has experienced losses in 2022. 

Also read: Are Constellation (CSU) & Open Text (OTEX) 2 TSX tech stocks to buy? 

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks. 

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