This week’s job report has turned around investors’ confidence, as America’s jobs market is staggeringly strong. Employers added 339,00 jobs in May – more jobs than the US economy has added in a month since 2019. The Bureau of Labor Statistics reports that payrolls increased by 217,000 jobs in March, and 294,000 in April. Analysts have reaffirmed their stance on a diminishing case for a 2023 recession, especially because the labor market is strong. Labor and capital are key economic inputs, so it is unlikely that economic activity will continue to slow. Following this, a breakout could happen, and these tech stocks are dirt cheap with strong fundamentals to boost ROI.

Lightspeed Commerce (LSPD)

Lightspeed Commerce (NYSE:LSPD) is in the point-of-sale (POS) industry that offers a platform built for businesses of all types. The platform revolutionizes and streamlines all business operations. It enables businesses to engage in multichannel sales, rapid expansion, global payment facilitation, financial solution offerings and supplier network establishment.

LSPD stock is at $15.10 and is up  6.34% YTD. 21 analysts predict a one-year price range of $18.50 to $37.01 or a 23.25% upside in price. Its price/book ratio is 0.91 while its sector average is 3.05, demonstrating a trading discount of 70.25% compared to its sector average. 

The POS industry is projected to achieve a market value of $81.15 billion by 2023, exhibiting a  CAGR of 15.8%. This growth can be attributed to the diverse operational systems within businesses, which are fueling the demand for POS systems with advanced functionalities, robust analytics and seamless accessibility. These systems significantly enhance the efficiency of both customer experiences and business operations.

By streamlining product offerings and focusing on its flagship products, Lightspeed Retail and Lightspeed Restaurants, LSPD is poised for a rise in stock price. These two platforms have already attracted over 70% of its new customers, indicating popularity and market potential. This strategic move allows LSPD to allocate more resources toward driving innovation and fostering customer growth. As far as cheap tech stocks go, investors should consider LSPD stock a “buy.” It is an extremely promising investment opportunity given its strong financial performance, efficiency-based products and omnichannel offerings.

DoubleVerify (DV)

DoubleVerify (NYSE:DV) is a leading software platform for digital media measurement and analytics. It provides unbiased data analytics for advertisers to replace inconsistent or fraudulent self-reported data. This unique position as the middleman gives them a competitive advantage in the market.

DV stock has grown 49.98% YoY and 60.65% YTD due to the scaling of its core verification solutions across leading social and CTV platforms. Q1 revenue following this grew 27% YoY to $123 million, beating consensus by $4.47 million. Additionally, GAAP EPS grew to $0.07, beating consensus by $0.03. Revenue for DV’s Authentic Brand Suitability grew 56% YoY, driven by a 55% increase in volume and 1% price increase. In 2022, the digital advertising market was valued at $628.8 billion, stemming from the rapid growth of social media. It is projected to reach $1.2 Trillion by 2027 on a 14.7% CAGR.

DV recently launched the DV Universal Attention Segment, the industry’s first automated attention optimization solution for programmatic media buying. Using DV’s global attention data, the UAS allows DV to improve brand performance by focusing on higher attention environments without sacrificing scale and reach. This technology can further be used by customers that use competitors’ measurement solutions, making it a powerful expansion catalyst.

Analysts have assigned DV a “buy” rating due to its revenue significantly outpacing growth rates of its competitors. Yahoo Finance reported 12 analysts with a mean price target of $35.58, with a range spanning from $34.00 to $40.00. No downgrades for this company have been made for more than a year, as many notable firms maintain and reiterate “Outperform” and “Overweight” ratings. DoubleVerify has displayed excellent performance despite a challenging macroeconomic environment, continuing to innovate with the Universal Attention Segment.

ZoomInfo (ZI)

ZoomInfo Technologies (NASDAQ:ZI) is a business-to-business (B2B) company that specializes in marketing solutions and data management for companies worldwide – offering services to companies from the startup to enterprise level. 

The B2B industry is a rapidly growing industry with projections to reach a $26.59 trillion valuation from an 18.00% CAGR. Having IPO’d only 3 years ago, ZoomInfo’s financials are faring well. Its impressive 38.46% TTM revenue CAGR continues to beat out its sector median of 4.96%. It has sustained a 81.82% revenue CAGR over the past 3 years.  

ZoomInfo has 1905 companies in its 100k cohort with an average annual contract value (ACV) upwards of 100k, representing a 17% YoY growth. Management cites investment in ZoomInfo’s customer research division and the development of new services has paid off. ZoomInfo’s customer research division found a 22% increase in likelihood for new users to become active daily users. As a result of ZoomInfo’s new marketing platform, SalesOS, big brands like Chevron (NYSE:CVX), JPMorgan (NYSE:JPM) and Panera Bread have become customers. 

Analysts rate ZoomInfo technologies as a “Strong Buy,” with an average predicted 18.97% upside. With healthy financials, a growing addressable market and new developments bringing in brand name customers, ZI is one of the cheap tech stocks that are a “Buy” for me.

On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines