UBS analyst says these battered US software companies look cheap

People enter the Adobe Systems Inc. office in San Francisco, California.
David Paul Morris | Bloomberg | Getty Images

Investors looking for a good deal in the bruised technology sector may be best served in U.S. software companies, according to an analyst at UBS.

The last two corrections in the software group in 2014 and 2016 resulted in a pivot toward profitability-based valuation gauges in the midst of market volatility, analyst Jennifer Lowe wrote in a note, making a few select names appear relatively cheap.