Tech stocks appear to be back in focus this week as strong U.S. job growth figures boost investor sentiment. This is coupled with vaccine rollouts picking up speed and signs of broader economic recovery. All things considered, some would argue that the broader market could be looking at a fruitful Q2 this year. Evidently, tech giants Alphabet (NASDAQ: GOOGL), Facebook (NASDAQ: FB), and Microsoft (NASDAQ: MSFT) already hit record highs yesterday. As investors seem to be turning back to tech stocks, are their current valuations justified?

Well, while tech stocks gain, tech companies are also continuously working on expanding their portfolios. For instance, Apple (NASDAQ: AAPL) CEO Tim Cook recently hinted at the company’s autonomous vehicle (AV) plans. In an interview posted yesterday, Cook discussed the core tech behind AVs and the numerous applications it holds. Additionally, he also mentioned admiring Tesla’s (NASDAQ: TSLA) leading position in the electric vehicle (EV) space. It seems the consumer tech giant could be eyeing the lucrative AV and EV markets right now. Nonetheless, this appears to be the constantly evolving nature of the tech industry in full display. Given all of this, you might be interested to invest in tech stocks yourself. If that is the case, here are four in focus now.

Top Tech Stocks To Watch This Week

Palantir Technologies Inc.

First up on our list is software giant Palantir. For the uninitiated, the company specializes in big data analytics. Palantir mainly builds enterprise data platforms that are employed by private and government organizations alike. Two notable government-level clients include the U.S. Army and the U.K.’s National Health Services. Regardless of the end market, Palantir helps customers optimize large amounts of data with its analytical prowess. Given its leading role in the government software market, PLTR stock could be a long-term software stock to watch. Despite all this, the company’s shares have mostly been trading sideways this year. Could now be the time to invest?

best tech stocks (PLTR stock)

Well, for one thing, PLTR stock would be on investors’ radars this week. That is because of the company’s latest contract announcement. Namely, Palantir is now working with the National Nuclear Security Administration (NNSA) on a 5-year contract worth $89.9 million. The company will be providing the NNSA’s Safety Analytics, Forecasting, and Evaluation Reporting (SAFER) project with a data management platform.

In turn, this platform will help the NNSA manage nuclear security nationwide. With such high-profile clients, PLTR stock would seem to be trading at a discount right now. Even Market Structure EDGE CEO Tim Quast believes so, saying “At some point, money is coming back to this.” Should this be the case, would you consider investing in PLTR stock now?

[Read More] 4 Top Cyclical Stocks To Watch Right Now

Synopsys Inc.

Another top tech company making waves now would be Synopsys. In brief, Synopsys identifies as an electronic design automation company. The company mainly focuses on silicon design and verification. Moreover, Synopsys also offers intellectual property, software security, and quality-related services. Simply put, the company develops electronic products and software applications for the semiconductor and software development industries. Through its offerings, Synopsys boasts a massive portfolio of application security testing tools and services. As an enabler in these booming fields, SNPS stock would be a go-to for tech investors now. Likewise, the company’s shares are looking at gains of over 17% over the past month.

software stocks (SNPS stock)

On the operational front, Synopsys has also been making strides. Just yesterday, the company unveiled its latest innovation in the prototyping market, the HAPS-100 prototyping system (HAPS). Essentially, HAPS allows software developers and verification engineers to manage multi-design, multi-user deployments from anywhere, maximizing productivity and optimizing cost-efficiency.

According to Synopsys, HAPS can help the 5G, artificial intelligence (AI), automotive, and graphic processing unit (GPU) markets in particular. No doubt, this is a key expansion to Synopsys’ offerings. With the addition of HAPS to the company’s platform, could SNPS stock be worth buying now?

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Duck Creek Technologies Inc.

Next up, we have insurance software company, Duck Creek Technologies (DCT). DCT is a leading provider of core system solutions for the personal and commercial (P&C) banking and general insurance industries. The company mainly operates via its Software-as-a-Service (SaaS) solution, Duck Creek OnDemand (DCOD). According to the company, DCOD enables insurance carriers to “navigate uncertainty and capture market opportunities” ahead of the competition. In short, the company’s core enterprise solution serves as an insurance platform for insurers. More importantly, DCT stock seems to be in the limelight now thanks to the company’s latest earnings report.

tech stocks (DCT stock)

Yesterday, DCT posted solid figures across key metrics in its second-quarter fiscal, after the closing bell. In detail, the company reported year-over-year surges of 51% in subscription revenue and 75% in SaaS annual recurring revenue this quarter. CEO Michael Jackowski cited an acceleration in P&C carrier adoption and continued market momentum as key growth drivers.

Furthermore, Jackowski also mentioned that the company’s SaaS performance for the quarter highlights the versatility of DCOD to help organizations of varying sizes. In an increasingly digital world, insurance carriers would come to rely on DCT’s leading financial SaaS services. Could this make DCT stock a buy now?

[Read More] Best Fintech Stocks To To Buy In April 2021? 4 Names To Watch

CrowdStrike Holdings Inc.

Topping off our list is cybersecurity giant CrowdStrike. Like it or not, CrowdStrike continues to be a force to be reckoned with in the digital security space. Whether it is endpoint security, threat intelligence, or cyberattack response services, many rely on its services. This would especially ring true even months after the devastating hack on numerous private and government bodies last December. Of course, as with most of 2020’s top growth stocks, CRWD stock has taken a breather this year. Could the current weakness in the company’s shares be worth jumping on?

cybersecurity stocks (CRWD stock)

Well, in keeping with the times, CrowdStrike continues to expand and enhance its offerings. As of last week, the company is now collaborating with fellow cloud-native security company, Zscaler (NASDAQ: ZS). Basically, the duo announced a series of integrations that deliver end-to-end security protection, bolstering joint customer cybersecurity coverage.

Zscaler CTO Amit Sinha said, “The enterprise perimeter doesn’t exist anymore, the internet is the new corporate network, and security should follow users and workloads wherever they are.” Sinha went on to highlight that the current collaboration “dramatically reduces an organization’s attack surface.” Nevertheless, this is a strategic play by CrowdStrike as it gains significant market reach. To this end, will you be adding CRWD stock to your portfolio?

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