The S&P/TSX Composite Index is up 2.5% this month amid a post-election rally. Donald Trump's pro-growth policies have made investors optimistic, boosting equity markets. Amid improving investor sentiments, let's look at three technology stocks that can deliver superior returns over the next three years.

WELL Health Technologies

WELL Health Technologies (TSX:WELL) posted impressive third-quarter performance last week, with its revenue and adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) growing by 23% and 10%, respectively. After posting its third-quarter performance, the company's management has also raised its 2024 guidance. Besides, management has stated that its healthy financial position could support its organic growth and acquisitions. So it won't need to dilute its shares further.

Meanwhile, the demand for WELL Health's products and services is rising amid the growing popularity of virtual healthcare services and increased usage of software solutions in the healthcare sector. The company is investing in artificial intelligence (AI) to develop innovative products that could meet the needs of healthcare professionals. Further, the health services provider continues expanding its footprint and has acquired three clinics in British Columbia. It is also working on acquiring four diagnostic imaging clinics in Alberta, while 17 more signed letters of intent or definitive acquisition agreements are pending. Considering its growth prospects and improving profitability amid cost-cutting initiatives, I expect the uptrend in WELL Health's stock price to continue, thus making it an excellent buy.

Lightspeed Commerce

Second on my list would be Lightspeed Commerce (TSX:LSPD), which also reported a healthy second-quarter performance for fiscal 2025 last week. Its revenue rose 20% year-over-year to $277.2 million amid 33% growth in transaction-based revenue and 6% growth in subscription revenue. The point-of-sale (POS) and e-commerce software provider reported an adjusted EBITDA of $14 million, a substantial improvement from $0.2 million in the previous year's quarter. It also generated $1.6 million of adjusted free cash flows compared to $17.2 million of cash used in last year's quarter. The company had $659 million of cash and cash equivalents at the end of the quarter. So, its financial position looks healthy to fund its growth initiatives.

Meanwhile, Lightspeed continues to expand its customer base with several customer wins during the quarter. Supported by its unified POS and payment offerings and growth in high GTV (gross transaction value) customer locations, the company's average revenue per user (ARPU) increased by 24% to $527. Year-over-year, customer locations with GTV of $500,000/year and $1 million/year increased by 1% and 2%, respectively. Besides, the company continues to develop and launch innovative products that could strengthen Lightspeed's footprint and drive its financials in the coming years.

Since reporting its second-quarter performance, Lightspeed's stock price has increased by over 8%. However, it trades substantially lower compared to its 2021 highs. Besides, the company's valuation looks attractive, with its NTM (next 12 months) price-to-sales multiple at 2.2. Considering all these factors, I am bullish on Lightspeed.

Docebo

Docebo (TSX:DCBO) is another stock that reported a solid third-quarter performance last week, beating its guidance. Its revenue grew 19% during the quarter to $55.4 million, with 95% coming from subscriptions. The addition of 266 customers over the last four quarters and expansion of its average contract value by 9.8% to $54,271 boosted its sales. Its gross margin remained in line with the previous year's quarter at 81.1%. Meanwhile, its adjusted net income grew 66% year-over-year to $8.3 million.

Moreover, the learning management system (LMS) market is expanding, and analysts are projecting it to grow at double digits for the rest of this decade. Amid the expanding addressable market, Docebo is developing AI-powered products to strengthen its market share. It recently released AI-driven applications and enhanced analytics at the 'Docebo Inspire' event. Considering its growth prospects, I expect the uptrend in the company's financials and stock price to continue.