The Canadian technology sector is much smaller than its southern counterpart. Still, it offers some of the most explosive equities in North America. Shopify, Kinaxis, and Lightspeed POS have all richly rewarded investors over the past year. The e-commerce space has thrived over the course of the pandemic. Meanwhile, Kinaxis’ supply chain solutions software has also drawn in top companies around the world.
Today, I want to look at Real Matters (TSX:REAL). This discounted tech stock is worth your attention in late February. The company provides technology and network management solutions to mortgage lending and insurance industries in Canada and the United States. These industries have thrived in an environment of historically low interest rates.
Investors should expect these conditions to persist in the near term. Canada’s housing market has continued to roar in the face of the pandemic. Meanwhile, the U.S. housing market has rebounded nicely in 2021. This climate should power Real Matters going forward.
Real Matters released its first quarter fiscal 2021 results on January 28. It achieved revenue growth of 15.9% in Q1 FY2021. Meanwhile, it launched one new Tier 2 lender in two channels in U.S. Appraisal. Adjusted net income rose $2.8 million from the prior year and $0.04 on a per share basis.
Shares of Real Matters possess a price-to-earnings ratio of 26. That puts it in favourable value territory relative to its industry peers. Canadian investors should consider buying-the-dip in this top tech stock today.
Tech Insider
