1 Growth Stock Down 17% to Buy Right Now
2022 was a rotten year for most software stocks. Many were heavily sold off due to a combination of a valuation correction and a lowering of growth estimates. Infrastructure software company Bentley Systems (NASDAQ: BSY) was sold off to the tune of 17% over the last year.
Despite the sell-off, management maintained its underlying full-year 2022 guidance, and the passing of the $1.2 trillion Infrastructure Investment and Jobs Act in later 2021 strengthened the company's long-term growth prospects. As a result, Bentley Systems is an attractive stock to buy for 2023 and beyond.
Operating as the leader in the infrastructure software market, Bentley Systems isn't a name that will roll off the average investor's tongue. However, other, perhaps better-known names, like Autodesk and Trimble, also operate in the market. They are attractive stocks in their own right. Still, Autodesk's broader exposure to construction and Trimble's exposure to transportation, farming, and construction mean that Bentley is the "go-to" stock for investors looking for exposure to infrastructure software spending.
Source Fool.com
