3 Buy-Rated Software Stocks Under $20

11 Jun 2021

3 Buy-Rated Software Stocks Under $20

. 3 Buy-Rated <strong>Softwarestrong> <strong>Stocksstrong> Under $20Legions of investors have rotated away from expensive <strong>techstrong> <strong>stocksstrong> this <strong>yearstrong> on concerns over rising inflation and to exploit the opportunity to capitalize on the economic recovery by betting on cyclical <strong>stocksstrong>. But the resulting decline in <strong>techstrong> stock prices has created an opportunity to buy fundamentally strong <strong>softwarestrong> <strong>stocksstrong> at low prices. Given this industry’s massive growth potential, we think it could be wise to bet on Magic <strong>Softwarestrong> (MGIC), Brightcove (BCOV), and Immersion (NASDAQ:IMMR). All three names are currently trading at below $20 per share. Read on.Even though the majority of the <strong>softwarestrong> <strong>stocksstrong> generated massive returns last <strong>yearstrong> on the back of an increased remote working trend amid the COVID-19 pandemic, investors have been rotating away from expensive <strong>techstrong> <strong>stocksstrong> this <strong>yearstrong> on concerns over rising inflation and to benefit from the strong upside potential of cyclical <strong>stocksstrong> amid the economic recovery. However, <strong>techstrong> <strong>stocksstrong>’ price retreat has made the valuations of fundamentally strong <strong>softwarestrong> <strong>stocksstrong> reasonable now.Because the hybrid working model is here to stay, the <strong>softwarestrong> industry should witness solid growth this <strong>yearstrong> and beyond. It is also expected to benefit from the ongoing, global digital transformation and increasing automation of processes across several industries, including retail, manufacturing and healthcare. According to Grand View Research, the global business <strong>softwarestrong> and services market is expected to grow at an 11.3% CAGR over the next seven <strong>yearstrong>s.<strong>Softwarestrong> companies Magic <strong>Softwarestrong> Enterprises Ltd. (NASDAQ:MGIC), Brightcove Inc. (BCOV), and Immersion Corporation (IMMR) have immense growth potential, but their <strong>stocksstrong> are currently trading below $20 per share. So, we think it could be wise to bet on them now.Continue reading on StockNews

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