This Software Stock Could Soar 74% Over the Next Year, According to an Analyst -- and Patient Investors Could Get Even Better Returns
This company is in the midst of a transition, and execution will be key.
This Software Stock Could Soar 74% Over the Next Year, According to an Analyst -- and Patient Investors Could Get Even Better Returns
Overview
After a rough start to the year, software stocks are staging a comeback. The iShares Expanded Tech-Software Sector ETF had turned positive on the year by the end of May before falling again this month. But not every software company has participated in that strong run since software stocks bottomed in April.
That means there are still many opportunities in the sector for patient investors. One company poised to see its stock price rebound and continue climbing is Adobe (NASDAQ: ADBE). The stock is down 44% so far this year, but J.P. Morgan analysts think it could climb 74% over the next year.
Details
Here's what's weighing on the stock, and why it looks so undervalued as a result.
Source
Originally published at www.fool.com.
