Last week was a great week for technology stocks as the NASDAQ Composite gained 4.41% to 11630 followed by the S&P 500 index which rose 1.43% to 3916. The Dow Jones continues to struggle with a weekly loss of 0.15% to 31861. The SPDR Select Technology Sector Fund ETF (XLK) gained 5.66% last week which peaked our interest into the sector. 

Here are 3 of the top rated technology stocks according to Multi-Stock Trading LLC's Quantamental analysis. 

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Rambus Inc, (RMBS) designs, develops, and licenses chip interface technologies and architectures that are used in digital electronics products. The stock has the highest TC Quantamental rating on our list at 7.0 out of 10 which is very strong and has remained above 5 since January of 2019. The highest factor score is Momentum at 8 out of 10 which is above average for the sector. The momentum factor refers to the tendency of winning stocks to continue performing well in the near term. The stock also has a very strong growth rating of 8.4 out of 10. The growth factor takes into account the year-over-year change in price/earnings, EPS growth, and revenue growth. TC Quantamental Rating suggests the stock price should be around $48 per share over the next 12 months based on overall price volatility and suggests a 14.1% upside potential since it was last rated on March 15th.

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Open Text Corp, (OTEX) Canada's fourth largest technology company which develops and sells enterprise information management software has a TC Quantamental Rating of 6.9 out of 10 which is strong. The stock price had been in a well-defined downtrend capped by a declining trend line that started back in November of 2021 however price action has rebounded above the declining trend line in February and has most recently broken above a short-term consolidation. A rebound is taking place. The Highest factor score is Value, a metric developed by economist, educator and investor Benjamin Graham and then popularized by legendary investor Warren Buffet, which rates 7.8 out of 10, above the sector average. TC Quantamental Rating suggests the stock price should be around $39.8 per share over the next 12 months based on overall price volatility and suggests a 12.2% upside potential since it was last rated on March 15th.

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Arista Networks, (ANET) a supplier of cloud networking solutions that use software to address the needs of Internet companies, cloud service providers, and enterprises also has a strong TC Quantamental Rating of 6.8 out of 10. The highest factor score is Quality at 8.4 out of 10 which is above average for the sector. The quality factor group measures the total financial strength of the company in regard to profitability, the robustness of its balance sheet, and earnings quality. TC Quantamental Rating suggests the stock price should be around $175 per share over the next 12 months based on overall price volatility and suggests a 13.8% upside potential since it was last rated on March 15th.

The investment ideas presented here are for information only.  They do not constitute advice or a recommendation by Multi-Stock Trading LLC in respect of the investment in financial instruments. Investors should conduct further research before investing.

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Gary Christie is head of North American research at Multi-Stock Trading LLC in Ottawa.

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