Software stocks were a pandemic darling, but their popularity waned as economies reopened. Nevertheless, the tech sub-sector remains a key part of several long-term secular trends, such as cloud computing and artificial intelligence. "We continue to believe in the structural positives of software, specifically, its ability to drive significant return on investment to customers," Goldman Sachs ' analysts, led by Gabriela Borges, wrote in a note on Jan. 3.
It gives the stock a price target of $230. Goldman also likes tax technology software firm Vertex for its potential to "drive higher cloud margins over time." The bank said it believes the company's cloud transition story is "underappreciated" by the market. It gives the stock a price target of $21. Oracle is Bernstein's "number one" pick in the software space heading into a recession.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »