Secure Massive Gains With These AI Software Stocks Today 

The global AI software market, made up mostly of cloud computing, is on the brink of massive expansion, and this results from the escalating demand for software-focused solutions and services. 

Software firms will soon be utilizing the following areas of groundbreaking AI tech, to name a few: 

– Machine Learning (ML) 

– Augmented Reality (AR) 

– Virtual Reality (VR) 

– Internet of Things (IoT) 

Also noteworthy: The global software industry is projected to reach a market size of $4.91 trillion by 2027

Various areas of AI will undoubtedly bolster the software sector’s growth trajectory, and some particular software stocks will greatly benefit from it… 

GoDaddy Inc (GDDY) 

GoDaddy Inc. (GDDY) is a cloud-based innovator that offers products to other businesses such as marketing, mobile optimization, and e-commerce creation. Notably, GDDY introduced “Instant Video,” an AI-powered feature in GDDY’s Studio app, aiding small businesses in making films for video-centric marketing without added costs. GDDY has launched generative AI products to aid small enterprises in tasks like product descriptions and customer service messages. In collaboration with Microsoft (MSFT), they’ve introduced seamless payment solutions in Microsoft “Teams” meetings. The fact that the software giant chose GDDY only highlights its strong position in the US payments sector. 

GDDY is down year-to-date by 5.65% and trading near the bottom of its existing 52-week range. GDDY has a volatility-safe beta score of 0.96, a PEG (price/earnings to growth) ratio of 0.76x, almost $1 billion in operating free cash flow, and positive year-over-year revenue growth. For the current fiscal quarter, GDDY is projected to report $1.1 billion in sales at $0.77 per share, with a forecasted 3-5 year EPS growth rate of 50.7%; the firm is scheduled to report on November 8th. With a 10-day average trading volume of 1.41 million shares, GDDY has a median price target of $89.50, with a high of $102 and a low of $77; this suggests the potential for an almost 45% price upside. GDDY has 10 buy ratings and 5 hold ratings

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RingCentral Inc (RNG) 

RingCentral Inc. (RNG) stands out as a global leader in providing enterprise cloud communications, video conferencing, and SaaS (Software as a Service) communication services. On May 18th of this year, we witnessed a strategic partnership between Vodafone Portugal and RNG, which seamlessly integrates RingCentral’s messaging and video capabilities with Vodafone’s voice functionalities, making for a robust communication solution. As remote work increases, RNG’s new solution is poised to become a staple for Portuguese companies seeking heightened productivity and flexibility. Anticipating vast adoption, the integration will also expand RNG‘s influence on the global marketplace. 

Down year-to-date by 19.41% and trading at the bottom of its existing price range, RNG’s stock has a 0.91 beta, a 0.44x PEG ratio, a P/S (price to sales) ratio of 1.29x, and a positive 20/200 SMA (simple moving

average). During its Q2 earnings call, RNG reported EPS of $0.83 per share vs. $0.75 per share as expected by analysts, a 10.70% win, while it beat revenue projections by 0.55%. RNG also reported year-over-year growth in critical areas like revenue (+10.76%), net income (+86.53%), net profit margin (+87.85%), and operating income (+60.76%). With a 10-day average volume of 2.34 million shares, RNG has an average price target of $43.50, with a high of $65 and a low of $34; this represents the potential for a price leap of more than 127% from its current spot. RNG has 18 buy ratings and 11 hold ratings

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ServiceNow Inc (NOW) 

ServiceNow Inc. (NOW) is a key player in enterprise cloud computing solutions, offering services that streamline processes for global enterprises. NOW’s platform encompasses workflow automation, AI, ML, and more. NOW‘s dedication to innovation is evident in its generative AI advancements, including case summarization and text-to-code capabilities. NOW has collaborations through the AI Lighthouse program with Accenture (ACN) and a transformative partnership with NVIDIA Corp. (NVDA) for enterprise-focused generative AI capabilities. NOW‘s commitment to technological advancements makes it a software company worth taking seriously. 

Unlike its peers on this list, NOW’s stock is trading near the high of its existing range and is up by 42.91% year-to-date. With a positive SMA, a 1.02 beta, and positive TTM (trailing twelve-month) growth in assets and momentum, NOW has a low D/E (debt to equity) measure of 21.47% and an operating free cash flow of $2.91 billion. For Q2, NOW beat analysts’ projections, reporting EPS of $2.37 per share vs. $2.05 per share as expected (a 15.81% surprise), and it reported revenue that won by a 0.98% margin. NOW also reported whopping year-over-year growth in key areas such as revenue (+22.72%), net income (+5,120%), EPS (+4,980%), and net profit margin (+4,159%). With an under-the-radar 10-day average volume of 960 thousand shares, NOW has a median price target of $648, with a high of $734 and a low of $575, which implies a potential for a 32.3% price upside. NOW has 36 buy ratings and 4 hold ratings

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