10 Oversold Software Stocks to Buy According to Analysts

3) Intelligent Protection Management Corp. (NASDAQ:IPM)

% Decline Over Past 6 Months: ~46.1%

Average Upside Potential: ~179.0%

Number of Hedge Fund Holders: N/A

Intelligent Protection Management Corp. (NASDAQ:IPM) is a managed technology solutions provider, which provides cybersecurity and cloud infrastructure solutions. Maxim analyst Allen Klee upped the company’s stock to “Buy” from “Hold” with a price objective of $6. Intelligent Protection Management Corp. (NASDAQ:IPM)’s acquisition of Newtek Technology Solutions and sale of Paltalk, Camfrog, and Tinychat businesses pivots the focus to the strong end markets of outsourced IT hosting for the cloud, disaster recovery, cybersecurity, and procurement, opines Klee.

Furthermore, the analyst believes that the settlement of its patent infringement award can also offer additional capital, thereby increasing the enterprise value estimate. Maxim does not anticipate that Intelligent Protection Management Corp. (NASDAQ:IPM) will need to garner capital to finance its operations. Moving forward, the company plans to continue its efforts to improve the user experience with its ManyCam software and optimize features for consumer and enterprise applications.

There has been an acceleration in the shift to cloud infrastructure by businesses. With Intelligent Protection Management Corp. (NASDAQ:IPM) providing server hosting, cloud storage, and disaster recovery solutions, it can capture a higher market share as businesses continue to transition from on-premise solutions to cloud. Therefore, with the continuous growth in cybersecurity, cloud computing, and managed IT services, Intelligent Protection Management Corp. (NASDAQ:IPM) remains well-placed to scale the business.