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The recent tech sell-off, which was triggered by concerns over rising inflation, has affected many software stocks, but the majority of them should recover in the near term given the growing demand for software by almost every industry. According to Grand View Research, the global business software and services market is expected to grow at an 11.3% CAGR between 2021 – 2028.
Even though the overall software industry’s future looks promising, not all stocks are destined to benefit from the industry tailwinds. So, we think it could be wise to scoop up the shares of SAP SE (DE:SAPG) (SAP) and SS&C Technologies Holdings, Inc. (SSNC) based on their solid financials and continuing technical innovations. Conversely, we think it is better to avoid Bill.com Holdings, Inc. (NYSE:BILL) and Five9, Inc. (FIVN) because their near-term prospects look bleak.
