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*AcuityAds: This Tech Stock Could Outgrow Shopify in 2021!*

[Dara7Dara]

Nice new article! Happy reading :)

https://ca.finance.yahoo.com/news/canadian-tech-stock-could-outgrow-213017063.html

Most of these stocks with incredible growth potential will be in the tech sector. There are several different subsectors of tech that offer different potential. One of the best, in my view, is AdTech.

AdTech refers to the use of computers and other software tools to help advertisers better reach their target audience. The industry has been around for quite some time. However, as is the case with all of the technology subsectors, it’s consistently going through periods of innovation.

These days, with the incredible strides made in artificial intelligence over the last few years, the AdTech industry looks as promising as ever.

That’s why one of the top growth stocks to consider that should be able to outgrow Shopify this year and beyond is AcuityAds Holdings (TSX:AT).

AcuityAds is a rapidly growing company offering advertisers two platforms. One, a self-serve platform, has been exploding in popularity lately. AcuityAds’s machine learning technology powers the other.

The Canadian tech stock has even recently partnered with major companies like Amazon to help grow sales. This is giving it a tonne of potential, as the economy continues to recover from the coronavirus pandemic, and more advertising spending is expected.

Plus, many of AcuityAds’s peers have seen their valuations contract in recent months. This has resulted in AcuityAds declining recently, now offering investors an incredible buying opportunity.

The four analysts that cover the Canadian tech stock all have it rated a buy. Furthermore, it has an average target price of $29.50, suggesting more than 100% upside from here.

So, if you’re looking for a high-quality stock that could outgrow Shopify, AcuityAds is a top choice.