These 3 Tech Stocks Are Absurdly Overvalued Right Now
Many of the most sought-after stocks on the market come from the tech sector. Over the last few decades, the tech industry has remained on the cutting edge, bringing new and innovative technologies to society. This has generated heavy demand in the market for some tech stocks.
Consequently, some tech names have risen to absurd valuations. While these companies may prosper for years to come, their stock prices have increased to levels that could make earning long-term gains more difficult. In this respect, investors need to weigh the valuations of companies such as Bill.com Holdings (NYSE: BILL), Datadog, Inc. (NASDAQ: DDOG), and Shopify, Inc. (NYSE: SHOP) carefully before taking a chance on such stocks.
Bill.com is a software-as-a-service (SaaS) company that provides back-office financial services to small and medium-sized businesses (SMBs). It streamlines and automates billing and payment processes that most SMBs still perform manually. This work happens through Intuit's QuickBooks Online and other popular software packages that integrate with Bill.com's Simple Bill Pay.
Source Fool.com
