Over much of the past couple of years, software-as-a-service (SaaS) stocks have been pummeled.
The popular narrative has been that artificial intelligence (AI) will render the software layer unnecessary or, at the very least, negatively impact their user-based pricing models
Even as these companies continued to show solid growth, nothing was often good enough in the eyes of investors to change the narrative. However, it looks like the sector has finally hit a bottom, with SaaS stocks starting to rally. With the worst possibly behind these stocks, let’s look at three SaaS stocks to buy right now. 1.
Microsoft: The early AI leader Microsoft (NASDAQ: MSFT) was one of the first companies to really embrace AI and bring it to the mainstream with a large investment in and partnership with OpenAI. However, that hasn’t completely spared the company from the SaaS sell-off. While Microsoft’s stock has lagged the market, its operational performance has been strong.