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New technology and software companies continue to emerge as the ways people conduct business and communicate continues to change. As a result, investors have a growing number of opportunities to invest in technology-related stocks.So, if you’re looking for top software-application stocks to buy, it’s important that you understand which companies stand to benefit from this trend. Here are some of the best stocks to buy now and hold for the long term.
GitLab (GTLB)
The name GitLab refers to a software tool that helps programmers collaborate more efficiently on projects. The company was founded in 2013, and it has raised more than $100 million in venture capital funding since its inception.GitLab has become increasingly popular among software developers and IT departments, as it offers a centralized code repository, issue tracking, and automated software testing.GitLab’s online service lets users build, test, and deploy software projects from a single location.GitLab’s user-friendly interface and the ability to integrate with other software tools make it a great choice for businesses of all sizes.Owning shares of GitLab offers investors exposure to the growing software-development industry.
Sprinklr (CXM)
Sprinklr was founded in 2012, and it provides digital marketing software designed to help brands manage their social media presence across various channels.In addition to social media, Sprinklr’s software allows brands to publish content on websites, send email newsletters, and host live events.Sprinklr has raised more than $300 million in venture capital funding to date, and it has more than 6,000 customers, including Adidas, General Electric, and J.C. Penney.Sprinklr’s software enables brands to manage their presence across various channels in real time, making it easier to respond to customer questions and comments.Since Sprinklr is a cloud-based service, its customers don’t have to maintain a dedicated server to use the software.Owning Sprinklr shares allows investors to profit from the growing demand for digital marketing services.
E2open Parent Holdings (ETWO)
E2open provides supply chain management software that helps manufacturers track the location and condition of their goods in transit. The company also provides analytics tools for supply chain executives to improve their operations.E2open’s software has been used by companies in the aerospace, automotive, pharmaceutical, and retail industries.The company’s investors include private equity firm Silver Lake Partners, which acquired a majority stake in E2open in 2013.E2open’s CloudLink software offers companies a single point of data for their supply chain operations, making it easier to track shipments and obtain real-time information.Investing in E2open shares lets you profit from the growing need for supply chain management software.
Clear Secure (YOU)
Clear Secure is a provider of cloud-based identity and access management solutions to businesses. The company’s software allows companies to manage user access to websites, apps, and networks.Clear Secure’s products are designed to help businesses comply with increasingly stringent security regulations, such as GDPR and HIPAA.Clear Secure’s software also enables customers to comply with requirements to use multi-factor authentication and biometric identification tools.The company’s customers include financial institutions, healthcare providers, government agencies, and other organizations with strict data privacy and security requirements.Clear Secure has raised more than $50 million in venture capital funding since its founding in 2007. The company has more than 2,500 customers.Clear Secure’s software makes it easier for businesses to identify and authenticate their users, protecting sensitive data and enabling them to expand the reach of their networks.
Conclusion
Investing in software-application stocks can be a great way to participate in the growth of this industry. When selecting stocks to buy, look for companies that provide solutions for growing business needs.Investing in software companies also makes sense from a valuation perspective. The sector still trades at a discount to the broader market, making it a good long-term investment opportunity.
Read More: Top Software-Application Stocks to Buy Now and Hold