4 Hot Software Stocks For Your September 2021 Watchlist

4 Top Software Stocks To Watch Today

We live in a world where technology plays a significant role in how we go about our daily lives. Based on this alone, software stocks are often at the top of many investors’ watchlists in the stock market. For those who are unfamiliar with the term, software is a generic term used to describe applications, scripts, and programs that run on devices. Some examples that most people would know are Microsoft Windows by Microsoft (NASDAQ: MSFT) and the iOS operating system that powers Apple’s (NASDAQ: AAPL) devices. 

We are heavily reliant on software now and will continue to do so in the future. After all, many of the electronic devices that we use today would just be a piece of metal without its integrated software. In fact, Cisco Systems (NASDAQ: CSCO) has forecasted that within four years, approximately half of its revenue will come from software. The company believes the portion of its revenue from subscriptions will rise from 44% now to 50% by fiscal 2025. With this in mind, do you have a list of the four top software stocks in the stock market today?

Best Software Stocks To Watch Right NowZoom Video Communications

First up, we have one of the biggest winners during the pandemic, Zoom. In detail, the company is a provider of video communication platforms. Through Zoom’s cloud-based peer-to-peer software platform, users can remain connected despite the ongoing global health crisis. While ZM stock may be facing some correction this year, this is to be expected given that people can now step outdoors more freely. However, Zoom has already made its mark as many companies are now open to the idea of a hybrid workforce. 

On Monday, the company kicked off Zoomtopia 2021, unveiling plans for innovations across its platform designed for today’s dynamic working environments. The company emphasized that innovation remains a priority. It has plans for new solutions already in place that include Zoom Video Engagement Center and Zoom Whiteboard. The company hopes to broaden its impact on different facets of everyone’s lives. 

Furthermore, Zoom also announced that its reseller partners will be able to sell Zoom Phone Bring Your Own Carrier (BYOC) licenses. Built on Zoom’s intuitive platform, Zoom Phone is a full-featured cloud phone system for businesses of all sizes. Zoom Phone BYOC provides enterprise customers with the flexibility to keep their current public switched telephone network (PSTN) service providers by redirecting existing voice circuits to the Zoom Phone cloud. Given the company’s priorities now, it is not surprising that investors are constantly keeping tabs on ZM stock. So, would you consider adding ZM stock to your watchlist at its current price point?

software stocks to buy (ZM stock)Source: TD Ameritrade TOS

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Palantir Technologies

Palantir Technologies specializes in big data analytics and also provides cybersecurity services. Through its comprehensive software portfolio, the company caters to a wide array of end markets. The likes of which include the military, health care, and defense industries among other government bodies. PLTR stock has been slowly edging higher, showing gains of over 10% within the past month. 

In August, Palantir along with the recently formed Blacksky Technology (NYSE: BKSY) announced a joint pilot project. This collaboration aims to help government agencies to predict events. The pilot program combined high-resolution imagery and deep analytics to inform decision-makers and demonstrated the powerful impact of global monitoring from space and real-time insights. Eventually, this will provide a significant advantage for time-sensitive operations moving forward. 

Financially, the company has also been impressive. In its second quarter, the company posted revenue of $376 million, up 49% year-over-year. On top of that, it obtained 20 new customers, bringing its total customers up by 13% quarter-over-quarter. Overall, would it be safe to say that the company has more room for growth given its strong fundamentals? If you share the sentiment, then would you consider PLTR stock a top software stock to watch? 

PLTR stock chartSource: TD Ameritrade TOS

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Oracle

Following that, we will be looking at the cloud software company, Oracle. Put simply, the company provides products and services that address enterprise information technology environments worldwide. Its businesses include cloud and on-premise software, hardware, and services. The company stock has been on a bullish momentum so far this year, gaining more than 35% since the start of the year. 

Recently, Oracle announced its first-quarter fiscal 2022 financial results. Total revenue was up 4% year-over-year to $9.7 billion. Out of which, cloud services and license support revenues contributed $7.4 billion, representing an increase of 6% compared to the prior year’s quarter. Also, its GAAP earnings per share soared by 19% to $0.86. By and large, the first-quarter results were excellent as all its revenue segments exceeded forecasts. 

Not to mention, the company also announced the availability of Java 17, the latest version of the world’s number one programming language and development platform. Java 17 will deliver 14 JEPs (JDK Enhancement Proposals) that further improve the Java language and platform to help developers be more productive. It is the latest long-term support release, thus it gives customers security, performance, and bug-fix updates through September 2029. With these exciting developments, would ORCL stock make it to the top of your watchlist? 

ORCL stock chartSource: TD Ameritrade TOS

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Salesforce.com

Lastly, we have the customer relationship management software provider Salesforce.com. The company’s Customer 360 platform delivers a source that connects customer data across systems, applications, and devices. Impressively, the company has been consistently ranked as the world’s #1 CRM platform. More than 150,000 companies use Salesforce.com to grow their businesses by strengthening customer relationships. 

Earlier this month, the company announced a new Tableau Online region in Montreal, Quebec. This is the first Tableau Online region in Canada, and seventh worldwide. New and existing Tableau Online customers will have access to its cloud-based analytics. Well, this addition is a direct result of the demand the company is seeing across Canada for Tableau online. Businesses are evolving and shifting to the cloud now, more than ever. 

Despite being a global leader within its industry, Salesforce.com has no intention of resting on its laurels. The company announced a new multi-year partnership with FedEx (NYSE: FDX) on Tuesday. This collaboration will integrate Salesforce Commerce Cloud and Salesforce Order Management with innovative capabilities from FedEx and ShopRunner. Now, companies can speed up and simplify shipping, while making the supply chain more efficient. Safe to say, these are exciting times for Salesforce.com. So, would CRM stock be a viable investment now?

CRM Stock chartSource: TD Ameritrade TOS
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