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Consider Scooping Up These 3 Software Stocks Down More Than 15%

Published 12/22/2021, 02:26 PM
Updated 12/22/2021, 03:30 PM
© Reuters.  Consider Scooping Up These 3 Software Stocks Down More Than 15%

© Reuters. Consider Scooping Up These 3 Software Stocks Down More Than 15%

As COVID-19 omicron variant infection cases increase, the demand for software solutions is expected to remain high with an extension of work-from-home structures. Thus, we think it could be wise to bet on quality software stocks Manhattan Associates (NASDAQ:MANH), Commvault Systems (CVLT), and Model N (NYSE:MODN). They are currently trading below their 52-week price highs. Read on.With the continuing increase in COVID-19 omicron cases, most companies are delaying their return-to-office plans. This is expected to boost the demand for software solutions.

According to Statista, the software market is expected to grow at a 7.4% CAGR to $824.85 billion by 2026. Consistent innovations in artificial intelligence (AI) and the internet of things (IoT) are also expected to help the industry grow.

So, against that backdrop, we think it could be wise to bet on fundamentally sound software stocks Manhattan Associates, Inc. (MANH), Commvault Systems, Inc. (CVLT), and Model N, Inc. (MODN). They are currently trading below their 52-week price highs but have significant upside potential.

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