With rising demand for advanced software solutions from almost every industry, the software space is expected to achieve solid growth this year and beyond. Given this backdrop, we think it could be wise to bet on lesser-known software companies Cornerstone OnDemand (CSOD) and Magic Software (MGIC).They have immense growth potential. So, let’s look closer at them.With the highly contagious COVID-19 Delta variant spreading rapidly in several countries, the remote working trend is expected to continue. This, along with the continuing, global digitization, should drive the demand for software solutions.
According to Grand View Research, the global business software and services market is expected to grow at an 11.3% CAGR between 2021 - 2028.
So, we think it could be wise to bet on quality software stocks Cornerstone OnDemand, Inc. (CSOD) and Magic Software Enterprises Ltd. (NASDAQ:MGIC).They are not necessarily making headlines but possess solid growth attributes and are expected to advance significantly in the coming months.