PLAN - 3 Top Software-as-a-Service Stocks to Buy in June
This past spring has not been kind to software-as-a-service (SaaS) stocks. After an epic rise during the first year of the pandemic, many of them have taken steep double-digit-percentage hits as of late. The problem isn't with cloud-based businesses themselves, but rather general investor rotation into companies that could benefit from "economic reopening" as consumer behavior starts to normalize again.
The cloud is a secular growth trend, though, and many SaaS stocks are now on sale. Three that look like especially good buys in June are Palo Alto Networks (NYSE: PANW) , Anaplan (NYSE: PLAN) , and PubMatic (NASDAQ: PUBM) .
Cybersecurity has been in the spotlight in the last year. As the world goes digital, keeping digital systems secure is more important than ever. Recent attacks that have temporarily closed real-world operations (like the Colonial Pipeline) illustrate this fact. Firms that can help keep businesses safe are in high demand.
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3 Top Software-as-a-Service Stocks to Buy in June