3 Millionaire-Maker Software-as-a-Service (SaaS) Stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2024
0mins
Source: NASDAQ.COM
Overview of SaaS: Software-as-a-service (SaaS) companies provide cloud-based software solutions to businesses and consumers, allowing them to access applications without needing on-site hosting. Investing in SaaS stocks can yield significant returns over time, with many companies growing faster than traditional market averages.
Investment Opportunities: Notable SaaS companies like Block, Veeva Systems, and Zoom Video Communications show promising growth potential, but investors should conduct thorough research before investing. Alternatively, diversifying through SaaS-focused exchange-traded funds (ETFs) can be a strategic approach for those looking to invest in the sector.
Analyst Views on MSFT
Wall Street analysts forecast MSFT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MSFT is 631.36 USD with a low forecast of 500.00 USD and a high forecast of 678.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
34 Analyst Rating
32 Buy
2 Hold
0 Sell
Strong Buy
Current: 451.140
Low
500.00
Averages
631.36
High
678.00
Current: 451.140
Low
500.00
Averages
631.36
High
678.00
About MSFT
Microsoft Corporation is a technology company that develops and supports software, services, devices, and solutions. Its Productivity and Business Processes segment consists of products and services in its portfolio of productivity, communication, and information services, spanning a variety of devices and platforms. It comprises Microsoft 365 Commercial products and cloud services; Microsoft 365 Consumer products and cloud services; LinkedIn, and Dynamics products and cloud services. The Intelligent Cloud segment consists of its public, private, and hybrid server products and cloud services. It comprises server products and cloud services, including Azure, and enterprise and partner services, including Enterprise Support Services. Its More Personal Computing segment primarily comprises Windows and Devices, including Windows OEM licensing; Gaming, including Xbox hardware and Xbox content; Search and news advertising, comprising Bing and Copilot, Microsoft News, and Microsoft Edge.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
