5 Cheap Software Stocks to Buy According to Analysts

4. Presto Automation Inc. (NASDAQ:PRST)

Number of Hedge Fund Holders: 5

Average Upside Potential Based on Analyst Ratings: 168.99% 

Average Price Target: $4.25

Presto Automation Inc. (NASDAQ:PRST) operates as a labor automation technology provider in the hospitality industry. For the fiscal year ending June 30, 2023, Presto Automation Inc. (NASDAQ:PRST) expects reported ARR to be between $28 to $30 million. It is one of the best cheap software stocks to invest in. 

On December 9, Chardan analyst Brian Dobson initiated coverage of Presto Automation Inc. (NASDAQ:PRST) with a Neutral rating and a $4.25 price target.

According to Insider Monkey’s fourth quarter database, 5 hedge funds were long Presto Automation Inc. (NASDAQ:PRST), compared to 6 funds in the earlier quarter. The combined stakes in Q4 2022 came in at $456,000, up from $141,000 in Q3. 

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