2 Undervalued Software Stocks to Buy Right Now

15 Sep 2021

2 Undervalued Software Stocks to Buy Right Now

. 2 Undervalued Software Stocks to Buy Right NowA growing reliance on cloud platforms and the continued automation of business processes across several industries are expected to fuel the demand for software services. Also, increased IT spending should continue to drive the software industry’s growth. Therefore, we think software stocks NetSol Technologies (NTWK) and Evolving Systems (EVOL), which are currently trading at reasonable valuations considering their strong growth potential, are solid picks. Read on.The software industry has been witnessing growing demand, with more businesses automating their processes and migrating to the cloud to facilitate hybrid working models. As the adoption of advanced technologies such as hybrid architecture, artificial intelligence, and machine learning continues to rise, the industry should benefit. The global software market is expected to reach $823.71 million by 2026, registering a 7.2% CAGR.According to Gartner (NYSE:IT), worldwide IT spending is expected to reach $4.1 trillion in 2021. Since the resurgence of COVID-19 cases could delay office reopening, remote working trends are expected to persist. This should bode well for software companies.Given this backdrop, we think it could be wise to bet on prominent software stocks NetSol Technologies, Inc. (NTWK) and Evolving Systems, Inc. (EVOL), which look undervalued at their current price levels. These companies are expected to keep thriving based on their solid fundamentals.Continue reading on StockNews

Facebook Comments

You can comment on 2 Undervalued Software Stocks to Buy Right Now using Facebook here

Disqus Comments

Join the discussion on 2 Undervalued Software Stocks to Buy Right Now using Disqus