The continued digital transformation and increasing reliance on cloud computing are propelling the software market’s growth. So, it could be worth watching low-priced software stocks Rackspace (RXT), ON24 (ONTF), and BM Technologies (BMTX). Wall Street analysts expect these under $20 stocks to rally by more than 50% in price in the near term. So, read on.The software market is growing, with more businesses embracing digital transformation and rapid cloud migration. Businesses are spending billions of dollars on software upgrades to improve their business processes. And most industries worldwide—from manufacturing to transportation and healthcare—are now dependent on solutions and services offered by software companies.
The global software market is expected to reach $823.71 billion by 2026, registering a 7.2% CAGR. And investors’ interest in the software industry is evident in the iShares Expanded Tech-Software Sector ETF’s (IGV) 28.6% returns over the past year.
Hence, we think it could be worth watching low-priced software stocks Rackspace Technology, Inc. (RXT), ON24, Inc. (ONTF), and BM Technologies, Inc. (BMTX). Wall Street analysts expect them to rally by more than 50% in price in the near term.