The Nasdaq climbed 2.5% on Monday to start another busy week on Wall Street, as some of the big names in tech start to report their quarterly earnings results. The positivity was driven by some of the usual suspects during the market’s comeback from its coronavirus lows, including Tesla (TSLA - Free Report), Zoom ZM, and Amazon (AMZN - Free Report).

Investors have continued to pour into big tech stocks that appear more immune to the broader economic downturn for both safety and growth. Some on Wall Street question the massive run, given the overall economic harm the pandemic has caused. But the market is always future-looking and it’s hard not to remain in don’t fight the Fed mode with interest rates historically low.

On top of that, the tech portion of the S&P 500 is only set to see its second-quarter earnings sink -13% on -1% lower sales, while total S&P 500 earnings are projected to tumble -44.9% from the same period last year on -10.5% worse sales.

With this in mind, tech looks poised to remain a strong sector even as talk of a shift to value pops up. With this in mind, let’s look at three growth-focused tech stocks that investors might want to buy at the moment that aren’t named Zoom or Tesla…

Shopify (SHOP - Free Report)

Shopify helps over one million businesses build, maintain, and grow their e-commerce presence. The Canadian company’s offerings are highly attractive in an age where retailers need to expand their digital reach and its sales growth proved as much—soaring 73%, 59%, and 47% in the last three years alone. Shopify makes money from recurring subscription fees and add-ons such as payment processing. SHOP has also continued to partner with influential players within tech and retail, including both Facebook (FB - Free Report) and Walmart (WMT - Free Report).

The coronavirus pandemic has pushed e-commerce to the forefront, as businesses big and small rush to roll out for the first time or bolster their digital retail platforms. SHOP is one of the hottest names in all of tech and has crushed stay-at-home standouts such as Zoom and Netflix (NFLX - Free Report) since mid-March, up well over 200% from under $350 per share to its current price of over $1,000. This run might make some investors nervous, but even if there’s a near-term pullback, Shopify might remain attractive in the long run as it combines e-commerce, fintech, and other growth areas.

E-commerce sales only accounted for around 12% of total U.S. retail sales in the first quarter, which gives the space miles to expand. Our current Zacks estimates call for SHOP’s Q2 sales to jump 38%, with its full-year revenue projected to climb 37% in FY20 and another 34% in FY21. This would mark a slowdown compared to its recent growth, but it remains strong and standouts within the current economic conditions. Shopify’s adjusted Q2 earnings are projected to slip to -$0.01, but its full-year EPS figures are expected to jump 73% and another 23%.

Investors should note that Shopify’s longer-term earnings revisions have trended heavily upward to help it earn a Zacks Rank #2 (Buy) right now. SHOP also holds an “A” grade for Momentum in our Style Scores system heading into its Q2 earnings release that’s due out on Wednesday, July 29. It might be best to wait to see what happens next week, but investors with a longer-term horizon that are on the hunt for growth might want to consider buying SHOP.

DocuSign DOCU

DocuSign enables businesses and organizations to sign contracts and documents electronically on “practically any device, from almost anywhere, at any time.” DOCU’s offerings are increasingly valuable is our digital-focused world that’s only heading in one direction. Plus, DocuSign’s Agreement Cloud helps firms “automate and connect” their “entire agreement process.” The cloud-based suite offers over a dozen apps for e-signature, document generation, contract lifecycle management, and more, with industry and department-specific solutions.

DocuSign’s cloud suite has hundreds of pre-built integrations with other applications, including giants such as Microsoft (MSFT - Free Report), Google (GOOGL - Free Report), and Salesforce (CRM - Free Report). DocuSign, which went public in late April 2018, boasts over half a million customers around the world, and its shares have skyrocketed over 280% in the last 12 months and 170% in 2020 to destroy its industry’s sideways movement.

DOCU on June 4 topped our Q1 estimates, with sales up 39% and adjusted earnings up over 70%. Looking ahead, the company’s second-quarter sales are projected to jump over 35%, with its full-year revenue expected to climb 34% this year and another 27.4% higher next year. Meanwhile, its adjusted earnings are expected to soar 48% and 64%, respectively.

DocuSign is Zacks Rank #2 (Buy) right now that also sports an “A” grade for Growth and “B” for Momentum in our Style Scores system. In the end, DOCU appears to offer long-term appeal as everything moves to digital platforms.

Adobe (ADBE - Free Report)

Adobe is by far the most established name on this list, and its multiple cloud-based creative software offerings are considered irreplaceable by many. ADBE’s suite of creative and design software, which are sold on a subscription basis to individuals, businesses, and schools, includes Photoshop, Illustrator, Lightroom, and many others. And its bundle packages and its Creative Cloud offering can be viewed in a similar light as Microsoft’s Office suite.

On top of that, Adobe sells business-focused platforms and solutions for marketing, commerce, and more, alongside its PDF and e-signature units. ADBE topped our Q2 fiscal 2020 estimates last month, with sales up 14% and adjusted earnings 34% higher. The firm’s Digital Media division jumped 18% and it bought back roughly 2.6 million shares during the quarter at a time when the likes of AT&T (T - Free Report) put a halt to their programs.

Adobe stock is up 38% in 2020 and 60% since mid-March. This is part of a longer and larger run that has seen ADBE easily outclimb Netflix and Apple (AAPL - Free Report) over the last 36 months. Peeking ahead, the firm’s revenue is projected to jump 14% in FY20 and another 15% in FY21, which would stretch its streak of double-digit growth to seven years.

At the bottom end of the income statement, Adobe’s adjusted earnings are expected to jump 24% and 13%, respectively over this same stretch. Adobe rocks a “B” grade Momentum and an “A” for Growth in our Style Scores system. ADBE is a Zacks Rank #3 (Hold) right now that longer-term investors might want to consider for its ability to expand within a niche cloud software space for years to come.