The ongoing digital transformation continues to bring the software industry more customers and more revenue. Therefore, we think it could be wise to add software stocks Bakkt (BKKT), Phunware (PHUN), Waitr (WTRH), and Glimpse Group (VRAR) to one’s watchlist. The prices of each name increased by a lot last month. Keep reading. There is a rising demand for software products, and the ongoing digital transformation has helped to make this industry flourish. Furthermore, a growing interest in fintech, cryptocurrencies, data analytics, AR/VR, and artificial intelligence should keep driving the sector’s growth. Global software sales are expected to increase at 7.2%, reaching $823.71 Billion by 2026.

Investors’ interest in the software space is evidenced by the SPDR S&P Software & Services ETF’s (XSW) 18.5% returns year-to-date and 49.7% gains over the past year. Although the industry’s short-term outlook is bright, it could be under pressure from stock market volatility and weaker than expected third quarter earnings by some tech giants.

Last month, software stocks Bakkt Holdings, Inc., Phunware, Inc., Phunware, Inc., Waitr Holdings Inc., and The Glimpse Group, Inc., soared by more than 75%. Therefore, we think it could be wise to add these stocks to one’s watchlist.

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