Here's My Favorite SaaS Stock to Buy Right Now for 2022

The past couple of months have not been kind to the software-as-a-service sector, as inflation and interest rate fears have caused a quick and violent sell-off in these exciting yet highly priced stocks.

Yet could the sell-off have opened up bargain opportunities? The acceleration of digital transformation amid COVID-19 is still in full swing. Rosenblatt analyst Blair Abernathy recently wrote that digital transformation stocks should continue to see strong growth for at least the next few years, in a recent bullish note.

That's why my favorite SaaS stock for 2022 is a key player in enabling and protecting those large-scale cloud transformations for big companies. Yet because of some misperceptions around the stock, it trades at a bargain-basement valuation when compared with the rest of its pricey peers.

Source Fool.com