3 Bargain Tech Stocks to Buy Ahead of Q2 Earnings - ETSY

High-growth tech stocks were among the market's best performers before the general tech sell-off in 2022 that sent the NASDAQ 100 into a bear market earlier this year.

Rising interest rates, rising inflation and a potential recession are just some of the concerns plaguing the sector. Despite this, there are three tech companies worth considering ahead of their upcoming earnings, as they all have plenty of room to grow their businesses, making them solid long-term investments.

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Etsy

• Earn Date: After the close of business on Wednesday, July 27
• EPS Growth Forecast: +11.8% YoY
• Revenue Growth Forecast: +6.1% YoY
• Year-to-Date Performance: -60.1%
• Market Capitalization: $11.1 billion

Etsy (NASDAQ:ETSY), which provides an online e-commerce platform for handmade and vintage goods, has seen the stock struggle over the past few months on fears that the Federal Reserve's monetary tightening plans have led to sell-offs at many top growth companies that are most sensitive to rising interest rates. ETSY shares fell as low as $67.01 on June 16 after hitting an all-time high of $307.75 in November 2021. Shares of the Brooklyn, New York online retailer have since staged a modest recovery, but remain about 72% below its record high. Etsy easily beat Wall Street estimates in the previous quarter but provided a weak outlook. Consensus estimates call for revenue to rise 6.1% year-on-year to $561.4 million and EPS to rise 11.8% year-on-year to $0.76. Growth in gross merchandise sales (GMS), a key metric used to measure transaction values in the e-commerce industry, will also be in focus after rising 3.5% to $3.3 billion in the first quarter.