Top 5 Tech Stocks That Are Preparing To Pump In February


The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

ZeroFox Holdings, Inc. ZFOX

  • ZeroFox Holdings, during December, posted Q3 sales of $43.00 million. The company’s stock has a 52-week low of $2.50 .
  • RSI Value: 26.47
  • ZFOX Price Action: Shares of ZeroFox gained 0.4% to close at $2.56 on Tuesday and added 4.7% in after-hours trading.

Meta Materials Inc. MMAT

  • Meta Materials said it may offer, sell shares of common stock having aggregate offering price of up to $100 million from time to time. The company’s stock has a 52-week low of $0.63.
  • RSI Value: 27.82
  • MMAT Price Action: Shares of Meta Materials fell 1% to close at $0.7355 on Tuesday and added 1.3% in after-hours trading.

Model N, Inc. MODN

  • Model N recently reported Q1 earnings results and issued soft Q2 adjusted EPS guidance. "I am very proud of our team for the strong first quarter results. During the quarter, we signed new logos, closed another significant SaaS transition, expanded within numerous existing customers, and enjoyed strong renewals. Our SaaS ARR grew by 36% year-over-year to reach an all-time high," said Jason Blessing, president and chief executive officer of Model N. The company’s stock has a 52-week low of $20.95.
  • RSI Value: 26.68
  • MODN Price Action: Shares of Model N fell 0.2% to close at $34.46 on Tuesday.

PC Connection, Inc. CNXN

  • PC Connection reported worse-than-expected Q4 EPS and sales results. "We achieved record full-year results in 2022 despite Q4 headwinds. We are excited about the progress we made in 2022 and are confident our business strategy remains well aligned to the shifting dynamics of how our customers deploy, utilize, and consume technology," said Timothy McGrath, President and Chief Executive Officer of Connection. The company’s 52-week low is $40.71.
  • RSI Value: 28.48
  • CNXN Price Action: Shares of PC Connection fell 0.9% to close at $41.88 on Tuesday.

Blackbaud, Inc. BLKB

  • The company recently posted mixed quarterly results. "2022 was a year of substantial progress," said Mike Gianoni, president and CEO, Blackbaud. "We proactively took steps throughout the year to better position the company, manage it efficiently and effectively in a weakened economy, and drive profitability, cash flow and improvement on Rule of 40." The company has a 52-week low of $43.54.
  • RSI Value: 27.94
  • BLKB Price Action: Shares of Blackbaud dropped 5.4% to close at $58.07 on Tuesday.

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