The world of technology has seen unprecedented growth in recent years, with software playing a pivotal role in the digital transformation of industries across the globe. As a result, the demand for software products and services has skyrocketed, making software stocks an attractive investment option for those looking to capitalize on the industry’s growth potential.
Here are three “Strong Buy” software stocks from Wall Street –
Alteryx, Inc. – SYM: AYX
Recent Price: $43.48
Price Target: $67.50
Firms with Buy Rating: Piper Sandler, Needham, Citi
Description: Alteryx, Inc. operates in analytic process automation business in the Asia-Pacific, Europe, the Middle East, Africa, North America, and internationally. The company’s analytics platform enables organizations to enhance business outcomes and the productivity of their business analysts, data scientists, citizen data scientists, and data engineers.
Snowflake Inc. – SYM: SNOW
Recent Price: $167.61
Price Target: $178.19
Firms with Buy Rating: Piper Sandler, Morgan Stanley, J.P. Morgan
Description: Snowflake Inc. provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is based in Bozeman, Montana.
Workday, Inc. – SYM: WDAY
Recent Price: $213.51
Price Target: $236.68
Firms with Buy Rating: Morgan Stanley, Goldman Sachs, Wells Fargo
Description: Workday, Inc. provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations. It also provides spend management solutions that helps organizations to streamline supplier selection and contracts, manage indirect spend, and build and execute sourcing events, such as requests for proposals; and human capital management solution, a suite of human capital management applications that allows organizations to manage the entire employee lifecycle from recruitment to retirement, and enables HR teams to hire, onboard, pay, develop, reskill, and provide employee experiences. In addition, the company offers applications for planning; and applications for analytics and reporting comprising augmented analytics to surface insights to the line of business in simple-to-understand stories, machine learning to drive efficiency and automation, and benchmarks to compare performance against other companies. It serves professional and business services, financial services, healthcare, education, government, technology, media, retail, and hospitality industries. The company was formerly known as North Tahoe Power Tools, Inc. and changed its name to Workday, Inc. in July 2005. Workday, Inc. was incorporated in 2005 and is headquartered in Pleasanton, California.