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4 Tech Stocks That Could Trade Much Higher From Solid IT Spending

Regardless of the ups and downs in business and the markets, life goes on for companies, and the need for cutting-edge information technology (IT) increases literally every day. While the uneven economy is keeping IT budgets in what is considered a normal pace, macro concerns may continue to keep a lid on spending. A new research note from Oppenheimer features companies that may continue to benefit from spending on what they dub the “rapid widespread rearchitecting to cloud services.”

The Oppenheimer team highlights six companies they see benefiting from the continued demand for software-as-a-service (SaaS) demand. We screened the Oppenheimer stocks and found four that look especially attractive for aggressive accounts. All are rated Outperform as well.

Salesforce

This company posted outstanding earnings for the second quarter, and it is one of Wall Street’s favorite large cap growth ideas now. Salesforce.com Inc. (NYSE: CRM) has been the momentum stock trader’s dream over the past few years. Many on Wall Street feel that while the stock trades mostly in line with its fast organic SaaS peer group, which many see as having the largest growth rate in 2015, the company should trade at a premium to the group.

The company posted year-over-year billings growth way above estimates and has seen operating margins expand by 1.7% The company’s growing portfolio of enterprise-class solutions have not only enhanced the brand, but are helping to achieve access into bigger companies.

ALSO READ: 4 Merrill Lynch Buy-Rated Technology Stocks That Pay Big Dividends

Wall Street analysts see continued substantial billings growth and many have already raised their...


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