Software stocks are a type of technology stock that refers to shares in companies that develop, market, and sell software products. What’s more, software stocks have been some of the best-performing investments in recent years, as the global software industry has grown at an unprecedented rate. The demand for software products is only expected to increase in the future, making software stocks a good long-term investment.

However, it is important to remember that the software sector is notoriously volatile, and stock prices can fluctuate rapidly. As with any investment, it is important to do your research before investing in software stocks. With this in mind, let’s look at three top software stocks to watch in the stock market now.

Software Stocks To Invest In [Or Avoid] Now

1. Salesforce (CRM Stock)

Starting off, Salesforce Inc. (CRM) is a cloud computing company. Salesforce provides customer relationship management (CRM) software to businesses of all sizes. In addition to CRM, Salesforce also offers a suite of enterprise applications including Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Analytics Cloud, and more.

CRM Recent Stock News

Just last month, Salesforce announced that it has been listed in the “Leaders” quadrant of the 2022 Gartner® Magic Quadrant™ for B2B Marketing Automation Platforms report.

Additionally, Eric Zenz, Senior VP of Product Management for Marketing Applications at Salesforce commented, “In today’s digital-first world, providing customers with real-time intelligent customer experiences and seamless journeys at every touchpoint is paramount for businesses. Salesforce Marketing Cloud Account Engagement allows companies to build lasting relationships with customers through scaled, personalized outreach, across marketing, sales, and service.

CRM Stock Chart

As of Wednesday’s closing bell, shares of Salesforce stock closed the trading day down by 6.14% at $150.01 a share.

Salesforce stock
Source: TD Ameritrade TOS

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2. Adobe (ADBE Stock)

Moving on, let’s take a look at Adobe Inc. (ADBE). In brief, Adobe is a software company that is best known for its Adobe Creative Suite of products, which includes Photoshop, Illustrator, and InDesign.

ADBE Recent Stock News

Just last month, Adobe reported that it will collaborate with U.S. Bank (NYSE: USB) to assist in enhancing personalization in terms of its digital and retail customer experiences. Moreover, U.S. Bank will accomplish this by using Adobe’s Experience Platform. Specifically, ADBE’s Experience Platform helps deliver relevant and engaging user experiences online and offline.

Furthermore, Anjul Bhambhri, senior vice president at Adobe Experience Cloud, stated, “U.S. Bank is a leader in the financial services sector, setting an example as brands prioritize making the digital economy more personal. With Adobe Experience Platform, marketers at U.S. Bank can rally around a single view of the customer, driving an always-on personalization strategy that can evolve with consumer expectations and be in full compliance with strict industry rules and regulations.

ADBE Stock Chart

Meanwhile, to close out Wednesday’s trading session, shares of Adobe stock closed down by 4.68% at $301.22 per share.

ADBE stock
Source: TD Ameritrade TOS

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3. Datadog (DDOG Stock)

Finishing up, let’s move our attention to Datadog Inc. (DDOG). For starters, Datadog is a U.S.-based technology company that specializes in monitoring and analytics for cloud-based applications. In detail, Datadog is a monitoring service for cloud-scale applications, providing monitoring of servers, databases, tools, and services, through a SaaS-based data analytics platform.

DDOG Recent Stock News

Meanwhile, the company is set to report its third-quarter 2022 financial results Thursday, November 3, 2022, before the stock market opens. To recap, let’s take a look at how Datadog performed in the second quarter of 2022.

In detail, DDOG posted Q2 2022 earnings of $0.22 per share, along with revenue of $406.1 million. Meanwhile, in the release, the company said it expects third-quarter non-GAAP earnings of $0.15 to $0.17 per share and revenue of $410.0 million to $414.0 million.

DDOG Stock Chart

Aside from that, as of Wednesday’s closing bell shares of DDOG stock closed down by 7.82% at 74.48 per share.

DDOG stock
Source: TD Ameritrade TOS

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