From Darktrace to Argo Blockchain: Are tech stocks a good buy now?

Be the First to Comment Read

From Darktrace to Argo Blockchain: Are tech stocks a good buy now?

 From Darktrace to Argo Blockchain: Are tech stocks a good buy now?
Image source: Peshkova, Shutterstock

Highlights

  • High-growth tech stocks have been on the radar of investors who want to gain maximum returns.
  • Tech stocks have underperformed when the inflation levels are high, as per historical data. 

The technology sector has been quite crucial for the modern economy as there’s hardly any part of the economy which is not supported by technology nowadays. Thus, high-growth tech stocks have been on the radar of investors with an aim to gain maximum returns as technology advances.

However, tech stocks have underperformed when the inflation levels are high, as per historical data. In the current scenario with rising inflation levels across the globe, tech stocks have tumbled, but they still offer immense long-term growth opportunities despite the headwinds facing the sector.

Even though tech stocks are quite sensitive to increasing interest rates, long term success of the tech companies should be considered irrespective of bond yields and inflation levels.

Let’s take a look at 3 UK tech stocks that investors may include in their portfolio.

RELATED READ: Should you buy these 5 FTSE tech stocks in 2022?

UK tech stocks to buy

                                                                 © 2022 Kalkine Media®

Darktrace plc (LON: DARK)

Globally leading cyber security AI firm Darktrace disrupts the progressing cyberattacks, like email phishing and ransomware, in seconds. The company was in news recently as its adviser Mike Lynch has stepped down due to being extradited to the US for facing criminal charges.

The market cap of the FTSE250-listed company stands at £2,626.71 million, and its year-to-date return stands at -11.04% as of 7 February 2022. Darktrace plc’s shares were trading at GBX 373.40, down by 0.96%, at 10:16 AM (GMT) on 7 February 2022. 

Argo Blockchain PLC (LON: ARB)

UK-based blockchain technology firm Argo Blockchain PLC predominantly concentrates on large-scale cryptocurrency mining operations. In January 2022, the company has mined 172 Bitcoin or Bitcoin equivalent and has laid down the foundations for the execution of its growth strategy for the year today.

The company’s market cap stands at £365.10 million, and it has given a return of -18.38% to its shareholders in the last one year as of 7 February 2022. Argo Blockchain PLC’s shares were trading at GBX 78.50, up by 0.64%, at 10:27 AM (GMT) on 7 February 2022.

RELATED READ: Darktrace (LON: DARK): Should you buy this stock now?

Zoo Digital Group plc (LON: ZOO)

UK-based tech firm Zoo Digital Group plc offers services like cloud software-based subtitling, dubbing, and media localization to the entertainment industry globally. The company has recently raised its guidance, stating that its revenues would potentially be higher than the market expectations, reaching a minimum of US$57 million.

The company’s market cap is £118.77 million, and it has given a return of 29.06% to its shareholders in the last one year as of 7 February 2022. Zoo Digital Group plc’s shares were trading at GBX 78.50, up by 0.64%, at 10:27 AM (GMT) on 7 February 2022.

Disclaimer

Speak your Mind

Featured Articles