3 Software-as-a-Service Stocks That Could Triple Your Money
Don't worry if you don't know exactly what software-as-a-service (SaaS) stocks are. Tech companies are developing all sorts of new technologies and services these days and it's nearly impossible to keep up. To keep things simple, all you need to know is that SaaS companies sell software to their customers as an ongoing subscription, instead of charging a one-time fee. For example, if you've ever used the work communication tool Slack, then you've used a software-as-a-service.
Investors should pay close attention to SaaS because the market is expected to grow from $158 billion this year to $307 billion by 2026. Additionally, the COVID-19 pandemic is forcing companies to adopt SaaS faster than ever before. If you're looking to add a few SaaS companies to your portfolio, read on to find out why DocuSign (NASDAQ: DOCU), Fastly (NYSE: FSLY), and Shopify (NYSE: SHOP) should be at the top of your list.
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Source Fool.com
