11 Oversold Software Stocks to Buy Now

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6. SPS Commerce, Inc. (NASDAQ:SPSC)

Number of Hedge Fund Holders: 34

% Decline Over 6 Months: ~20.3%

SPS Commerce, Inc. (NASDAQ:SPSC) is one of the Oversold Software Stocks to Buy Now. On September 23, Morgan Stanley analyst Chris Quintero maintained a “Buy” rating on the company’s stock, setting a price objective of $170.00. The analyst’s rating is backed by a combination of factors demonstrating SPS Commerce, Inc. (NASDAQ:SPSC)’s strong growth potential. Its new network-led growth strategy happens to be a critical element, leveraging the extensive and differentiated network to fuel organic growth.

The analyst further added that this approach allows SPS Commerce, Inc. (NASDAQ:SPSC) to capitalize on the vast network of trading partner relationships and transaction volumes, which are unmatched by its peers, offering unique insights and data. Furthermore, the integration of AI to extract insights cements SPS Commerce, Inc. (NASDAQ:SPSC)’s competitive edge, improving the ability to understand and meet retailer goals, added Quintero. Additionally, the analyst opines that given its proven track record of high win rates and minimal losses to competitors, SPS Commerce, Inc. (NASDAQ:SPSC) remains well-placed to look for new upsell and cross-sell opportunities.

SPS Commerce, Inc. (NASDAQ:SPSC) offers cloud-based supply chain management solutions.

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