Riding on the bandwagon of the hottest SaaS stocks

SaaS Stocks or Software-as-a-service stocks has emerged as one of the hottest themes in the stock market of late, driven by the acceleration in digital transition as a result of COVID-19 as well as a strong preference for stocks with a high level of recurring revenue stream that makes these stocks highly attractive during times of economic uncertainty, like the current one we are facing. What exactly are SaaS companies? To keep things simple, SaaS companies sell software to their customers as an ongoing subscription instead of charging a one-time fee. For example, if you are a small online business owner and you set up your “virtual” shop using Shopify’s online platform, then you have used a software-as-a-service. In this article, I seek to screen for some of the hottest Software-as-a-service (SaaS) stocks that exhibit two key components:...