Three tech stocks recommended for long-term investment

Investors looking to capitalize on the technology sector may find three promising stocks to consider. The tech industry has seen notable growth, especially after the pandemic increased reliance on digital solutions. MercadoLibre is a top choice. This Latin American e-commerce platform has shown impressive financial growth. In 2024, revenue is expected to reach $20.8 billion, up from $10.8 billion in 2022. The company also reported a significant increase in active buyers and items sold last year. To enhance its services, MercadoLibre plans to invest $3.4 billion in Mexico, its second-largest market. Another strong option is Okta, which helps organizations manage employee access and security. Okta's revenue is projected to rise from $1.9 billion in 2023 to $2.6 billion in 2025. The company has seen a steady increase in its customer base and spending. Okta aims to expand both domestically and internationally, tapping into a large market for its identity management services. Lastly, Fastly offers an edge cloud platform designed for fast and secure website delivery. Its revenue has grown steadily, reaching about $543.7 million in 2024. While Fastly has faced challenges with free cash flow, recent improvements in operating cash suggest a positive trend. The company is also focusing on enhancing its security offerings, including a new DDoS Protection service. These three companies, MercadoLibre, Okta, and Fastly, represent distinct areas within the tech sector. Each has strong financial indicators and growth potential driven by ongoing digital transformation trends.