Top 5 Tech Stocks That Could Lead To Your Biggest Gains This Month

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, according to Benzinga Pro.

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

Rapid7, Inc. RPD

• On May 7, Rapid7 posted upbeat quarterly earnings. We continued to see solid traction with our consolidated threat detection and response solutions during the first quarter”, said Corey Thomas, Chairman and CEO of Rapid7.The company's stock fell around 16% over the past five days and has a 52-week low of $35.22.
• RSI Value: 22.98
• RPD Price Action: Shares of Rapid7 fell 17% to close at $38.00 on Wednesday.

Cloudflare, Inc. NET       

• On May 2, Cloudflare reported upbeat earnings for its first quarter and issued FY24 revenue guidance below estimates. "The first quarter marked a strong start to the year, as we grew revenue 30% year-over-year to $378.6 million—fueled by a record number of net-new customers year-over-year spending more than $100,000, $500,000, and $1 million with Cloudflare on an annualized basis," said Matthew Prince, CEO of Cloudflare. The company's stock fell around 19% over the past five days. It has a 52-week low of $48.19.
• RSI Value: 25.19
• NET Price Action: Shares of Cloudflare fell 2.3% to close at $72.45 on Wednesday.

Sprout Social, Inc. SPT

• On May 2, Sprout Social reported worse-than-expected first-quarter revenue results. “We believe our business has fundamentally changed for the better over the past 18 months and we nicely overperformed our gross retention and margin plans during Q1,” said Joe Del Preto, CFO. The company's shares fell around 47% over the past five days and has a 52-week low of $25.68.
• RSI Value: 10.27
• SPT Price Action: Shares of Sprout Social fell 0.7% to close at $26.90 on Wednesday.

Teradata Corporation TDC

• On May 6, Teradata reported mixed first-quarter financial results and issued second-quarter guidance. The company's shares lost around 13% over the past five days. The company's 52-week low is $31.61.
• RSI Value: 25.22
• TDC Price Action: Shares of Teradata fell 0.1% to close at $32.70 on Wednesday.

Fastly, Inc. FSLY

• On May 1, Fastly reported quarterly sales of $133.52 million which beat the analyst consensus estimate of $133.1 million and represents a 13.57% increase over sales of $117.56 million from the same period last year. "I am pleased with the first quarter operating performance, posting non-GAAP operating loss above our guidance and positive cash flow from operations," said Todd Nightingale, CEO of Fastly. "But, we're not satisfied with our revenue growth outlook." The company's shares fell around 41% over the past month. The company has a 52-week low of $7.83.
• RSI Value: 23.05
• FSLY Price Action: Shares of Fastly fell 2.4% to close at $8.31 on Wednesday.

Read More: Roblox, Beyond Meat And 3 Stocks To Watch Heading Into Thursday