2 Unstoppable Software Stocks That Are Ready to Break Out in 2023
Websites are one of the two core ways we access the internet, along with mobile applications. Building websites is a cornerstone of having a presence on the internet, and is vital for any small business that wants to interact with customers. The website-building market has grown through a monumental transition as customers switch from open-source platforms like WordPress to vertically integrated providers, which are called software-as-a-service (SaaS) content management systems (CMS).
From 2011-2021, SaaS CMS websites have gone from 18% to 37% of CMS websites. All indications are that this trend will continue over the next ten years, presenting a multibillion-dollar opportunity for website software providers. There are two companies I think will benefit the most from this transition to SaaS CMS: Wix.com (NASDAQ: WIX) and Squarespace (NYSE: SQSP).
Here's why these two companies are poised for breakouts in 2023.
Source Fool.com
