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  4. 2 Undervalued Software Stocks to Buy Right Now
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2 Undervalued Software Stocks to Buy Right Now

A growing reliance on cloud platforms and the continued automation of business processes across several industries are expected to fuel the demand for software services. Also,...
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2 Undervalued Software Stocks to Buy Right Now © Reuters. 2 Undervalued Software Stocks to Buy Right Now

A growing reliance on cloud platforms and the continued automation of business processes across several industries are expected to fuel the demand for software services. Also, increased IT spending should continue to drive the software industry’s growth. Therefore, we think software stocks NetSol Technologies (NTWK) and Evolving Systems (EVOL), which are currently trading at reasonable valuations considering their strong growth potential, are solid picks. Read on.The software industry has been witnessing growing demand, with more businesses automating their processes and migrating to the cloud to facilitate hybrid working models. As the adoption of advanced technologies such as hybrid architecture, artificial intelligence, and machine learning continues to rise, the industry should benefit. The global software market is expected to reach $823.71 million by 2026, registering a 7.2% CAGR.

According to Gartner (NYSE:IT), worldwide IT spending is expected to reach $4.1 trillion in 2021. Since the resurgence of COVID-19 cases could delay office reopening, remote working trends are expected to persist. This should bode well for software companies.

Given this backdrop, we think it could be wise to bet on prominent software stocks NetSol Technologies, Inc. (NTWK) and Evolving Systems, Inc. (EVOL), which look undervalued at their current price levels. These companies are expected to keep thriving based on their solid fundamentals.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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Moving Avg:

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Sell (12)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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USD/JPY

157.91

+0.12 (+0.07%)

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Moving Avg:

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0.6469

-0.0003 (-0.05%)

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Neutral

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1.3780

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168.32

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EUR/CHF

0.9808

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2,295.80

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85.62

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4,920.55

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8,144.13

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17,763.03

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1,973.05

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10,854.40

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27.35

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266.60

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
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 FTSE 1008,144.13Sell
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 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
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SJC 0,5c7,380/ 7,560
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SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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$2,285.72-47.5-2.04%
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RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
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Dầu hỏa 2-K20.68021.090
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USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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