Buy-the-dip Investors Can Think of Buying these 7 Oversold Tech Stocks

    Tech stocks are booming in 2021, and the northward movement of the S&P 500 bears testimony to it. As of November 23, more than a 20% increase in S&P 500 is primarily due to the muscle-flexing by the tech stocks that pushed the index higher. If you are looking to balance your portfolio, or you are a buy-the-dip investor on the lookout for overlooked technical stocks, here are some tech stocks to buy. Those who could not make it earlier can now make some investments in selected stocks that are now down by 10%. 

    But before you set your eyes on oversold stocks to buy, you should know what these stocks are all about. Before we proceed further, it is better to answer your question to see what you are targeting. It will give you a good idea about the oversold stocks to focus upon with more clarity. Those who want to know what does oversold stock mean would also get their answer. To earn a profit in the stock market, buying low and selling high is the universal rule. Oversold conditions in the stock market can last long when some stocks trade below par or lower price because the stock is oversold

    Now that you know the oversold stock meaning, you could pick from these 7 stocks that have been trading 10% lower over the past 6 months.

    Citrix Systems Inc (CTXS) Leads the Pack of Tech Stocks

    Going the share price, CTXS might look unimpressive because, over the past 6 months, its share prices have plunged by 25% and remain at that level. However, the company claims that the business health is sound as one can make it out from the underlying business trends. The poor performance in the share market is due to operational inefficiencies and poor forecasting. However, investor analyst Dan Romanoff is optimistic about the rewards that await those who buy the stock now.

    Global Payments Inc (GPN) 

    Although the share price of GPN traded at $125.05 on November 23 against the fair value of $186, analysts believe that it is a matter of time before the shares rebound. The company is focusing on international expansion, business software integration, and omnichannel solutions that should help the company turn around from the hit it had to take due to a sharp decrease in payment transactions in 2020 due to the Covid19 pandemic. 

    Zendesk Inc (ZEN)

    Analyst Dan Romanoff believes that Zendesk Inc stocks lost 30% over the past 6 months primarily because of its buyout of Momentive. The stock that fell from its fair value of $153 to $91.74 on Nov23 is now on Romanoff’s list of recommended stocks because he has high hopes that investors can expect rewards provided they have the patience to hold on to the stocks for some time. 

    VMWare Inc (VM)

    The company that provides virtualization services lost 28% of share value in 6 months. However, the price drop is because the company paid a special cash dividend of $27.40 per share in November. The special dividend resulted from Dell Technologies Ltd (Dell) selling off its stake in VMWare. The sell shares by Dell have increased the potential of VMWare as a growth stock, and buying it around $116 will be beneficial for investors.

    Fidelity National Information Services (FIS)

    Although the share price of FIS was $108.71 on November 23 against an estimated fair value of $142, which shows a decline of 25% over the past 6 months, bullish trends are visible. As payment volumes have increased steadily after the pandemic hit in 2020 and the company is working towards achieving Worldpay synergy targets, the sticks have enough merit for dip-in buyers. 

    Fieserv Inc (FISV) 

    The financial technology company has banks, merchants, and other clients that use its technology for their business operations. Although its share price has lost 15% over the past 6 months, buying FISV stock slightly below $100 can be rewarding due to reducing debts.

    Western Digital Corporation (WDC)

    WDC figures in the list of oversold tech stocks worth buying. Buying the stocks around $60 against an estimated fair price value of $70 is worth taking the risk as the company banks on the long-term demand for hard disks.

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