5 Cheap Software Stocks to Buy According to Analysts

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1. Movella Holdings Inc. (NASDAQ:MVLA)

Number of Hedge Fund Holders: N/A

Average Upside Potential Based on Analyst Ratings: 414.71%

Average Price Target: $5.00

Movella Holdings Inc. (NASDAQ:MVLA) operates as a full-stack provider of sensors, software, and analytics that allow the digitization of movement. On April 3, Movella Holdings Inc. (NASDAQ:MVLA) reported a Q4 revenue of $12.12 million, up 18.8% on a year-over-year basis. It is one of the best cheap software stocks to monitor according to analysts. 

On March 15, Stifel initiated coverage of Movella Holdings Inc. (NASDAQ:MVLA) with a Buy rating and a $7 price target. The analyst pointed out that Movella provides a unique and comprehensive solution, referred to as “full-stack,” that gives it a competitive edge over its rivals. The company has three different options for inertial motion capture hardware, and its Xsens Motion Cloud analytics provide valuable insights into human body movements and kinematics for various groups such as athletes, workers, and patients. Stifel believes that Movella Holdings Inc. (NASDAQ:MVLA) is well-positioned to enter several high-growth market opportunities, which makes its total addressable market highly attractive.

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