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According to Statista, the software market is expected to grow at a 7.4% CAGR to $824.85 billion by 2026. Consistent innovations in artificial intelligence (AI) and the internet of things (IoT) are also expected to help the industry grow.
So, against that backdrop, we think it could be wise to bet on fundamentally sound software stocks Manhattan Associates, Inc. (MANH), Commvault Systems, Inc. (CVLT), and Model N, Inc. (MODN). They are currently trading below their 52-week price highs but have significant upside potential.
