Most tech stocks are in bear market territory given the obvious recession we have in the making. However, some tech companies are clearly benefiting from the societal changes pushing so many of us to work @ home.

Our focus today will be on those rare few tech stocks that are actually benefiting from these trends. The key to their selection is that they also need to be attractive well beyond this Coronavirus crisis period or else the stock is likely to implode once the virus fades in the rear view mirror.

With all that in mind, these 3 tech stocks stand head and shoulders above the rest: Slack Technologies (WORK), Citrix Systems (CTXS) and Zoom Video Communications (ZM).

Slack Technologies, Inc. (WORK)

WORK was once a mainstay for tech companies. Now this online communication platform has gone even more mainstream in recent weeks due to work-from-home mandates. Slack channels provide an efficient way to communicate with co-workers without clogging up email inboxes and aren’t as disruptive to workflows as much as conference calls and meetings are. 

WORK is continuing to innovate during the uptick in use, and I’m looking forward to future enhancements as their platform continues to evolve. And the recently announced partnership with Microsoft (MSFT) could be a potential game-changer for the company and shareholders. Shares are up 25% this year which is about what most stocks are down. Yet for as resilient as it has been the highly rated analyst at Stephens, Ryan MacWilliams, still sees more upside for shares with a target price of $32.

Zoom Video Communications (ZM)

ZM is one of the most talked about stocks since the rise of the Coronavirus. That’s because their video platform is all the range for business, schools or just people needed to stay connected to friends and family.

This boom explains why ZM is up 121% this year. A truly shocking development in the midst of the bear market. Yet ZM clearly have the right answer for so many people. Yet after the virus fades away, all these new customers for Zoom will likely see how the video chatting platform has many other applications in their day to day lives. For as much as ZM shares are up this year, top industry analysts like Richard Valera from Needham still see upside to $140 this year. If you see ZM take any kind of dip, then jump in before the opportunity evaporates.

Citrix Systems, Inc. (CTXS)

CTXS has been in the news quite a lot lately; mainly due to the insider-trading scandal dogging some members of Congress, but that’s no reason to skip this stock. With all of the increased usage of online resources, I’m looking at the companies that provide the bandwidth to support the software and virtual workplaces that are now in such high demand. CTXS also provides users with a number of options for performance optimization. The firm keeps itself well-positioned to capitalize on increases in bandwidth needs, and I see a lot of potential for future growth.

Trading at $145.07, close to all-time highs, CTXS is benefiting from the surge of attention that it’s been receiving. Look to this one to continue performing well, as the underlying fundamentals of the company are sound and CTXS is also providing a much-needed service that isn’t likely to drop off too much after these stay @ home directives are lifted.

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WORK shares . Year-to-date, WORK has gained 25.49%, versus a -18.23% rise in the benchmark S&P 500 index during the same period.

About the Author: Steve Reitmeister

Steve is better known to the StockNews audience as “Reity”. Not only is he the CEO of the firm, but he also shares his 40 years of investment experience in the Reitmeister Total Return portfolio. Learn more about Reity’s background, along with links to his most recent articles and stock picks. More…

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