3 Upgraded Software Stocks to Consider Adding to Your Portfolio By StockNews
Since the ongoing remote working trend and digital transformation are expected to continue driving the software industry’s growth, we think it could be wise to add software stocks UiPath (PATH), ZoomInfo (ZI), and Five9 (NASDAQ:) to one’s watchlist. These stocks have seen their ratings recently updated by analysts. So, let’s take a closer look at these names.The software industry has grown significantly amid the COVID-19 pandemic. The demand for high-quality software has increased despite the significant improvements made on the vaccination front. Furthermore, consistent innovations by software companies are also increasing the industry’s relevance.
Statista estimates that software market revenues will rise to $581.18 Billion this year. The industry’s revenue is expected to grow at a 7.22% CAGR over the next five years to reach $823.71 billion by 2026. Also, investors’ interest in software stocks is evident in the SPDR S&P Software & Services ETF’s (XSW) 8.1% gains over the past six months.
So, we think it could be wise to add software stocks UiPath Inc. (PATH), ZoomInfo Technologies Inc. (ZI), and Five9, Inc. (FIVN) to one’s watchlist because analysts have recently upgraded them.
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