3 Software Stocks Better Than Blackberry

As I’ve mentioned before, 2021 looks to be the year of the meme stock. These stocks have seen their shares soar this year based on trader sentiment in Reddit’s r/wallstreetbets subreddit. For the most part, corporate performance has not played a role in their gains. Instead, it’s all about social media attention.

BlackBerry (BB – Get Rating) has been a Reddit favorite this year. The stock spiked 281% from January 4th to January 27th and then imploded shortly thereafter. Recently, the stock trended up again as meme stocks have made a comeback over the past month. BB gained another 90% this month, though the stock has since returned some of those gains. From a fundamental standpoint, I don’t believe BB is a good stock to own right now.

My opinion is backed up by our quantitative POWR Ratings system that has assigned BB an overall grade of D, translating into a Sell rating. As much as I miss my old Blackberry phones, the stock just isn’t a great buy. However, there are software stocks that are definitely worth considering. VMware Inc. (VMW – Get Rating), PTC Inc. (PTC – Get Rating), and Check Point Software Technologies (CHKP – Get Rating) are all rated a Buy and have multiple growth drivers, setting them up for success this year, which is why I am highlighting them below.

VMware Inc. (VMW – Get Rating)

VMW, a majority-owned subsidiary of Dell (DELL), is an industry leader in virtual machines for data center servers and computer desktops. The software provider operates in the three segments of licenses, maintenance, and professional services. Customers include enterprises utilizing data centers, end-user computing, cloud providers, and software-defined networking.

The company is… Continue reading at StockNews.com

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