5 Best Software Stocks to Buy According to Billionaire Paul Tudor Jones

1. Slack Technologies, Inc. (NYSE: WORK)

Value: $93,448,000
Percent of Paul Tudor Jones’ 13F Portfolio: %2.641
No. of Hedge Fund Holders: 66

Slack Technologies, Inc. (NYSE: WORK) is a channel-based messaging platform that allows people to work together effectively by easily connecting to other software and getting access to information they need to do their work. 

In a recent statement, Slack CEO Stewart Butterfield announced that plans are at an advanced stage to introduce an audio messaging feature that will allow users to make Skype and Zoom-like calls and send pre-recorded audio messages. The feature, which is still in beta testing, will launch a feature similar to Clubhouse, allowing users to engage in audio chats without launching a call or scheduling a meeting. 

The COVID-19 pandemic has spurred a boom in the online meeting industry as companies close their physical offices and turn to virtual operations. In Q4 FY2021, the company reported $250.6 million in total revenue and officially crossed $1 billion in revenue run rate. This is a record 41% increase compared to what the company reported in 2019. During that period, Slack Technologies, Inc. (NYSE: WORK) added more than 14,000 net new paid customers, bringing its total to 156,000.

You can also take a peek at 15 Biggest Canadian Software Companies and 15 Fastest Growing Software Companies.

Follow Insider Monkey on Twitter