2 SaaS Stocks to Buy this month, 2 to Avoid By StockNews
As companies continue with the remote working structures, with many adopting cloud platforms as part of their digital transformation efforts, the software-as-a-service (SaaS) industry should grow solidly. Absolute Software and QAD, both SaaS stock QAD (NASDAQ) respectively are in a strong position to capitalize on industry tailwinds. Paycor HCM and Workiva could be in danger of financial collapse if their finances decline. Let’s discuss.The heightened demand for cloud-based applications that facilitate remote working and increase the efficiency of business processes is driving the software-as-a-service (SaaS) industry’s growth. Companies that offer SaaS services should not stop growing because they have delayed reopening their offices due to COVID-19 case reemergence.
Global SaaS revenues are expected to rise at 12.5% to $436.9 Billion by 2025.
But not all businesses in this industry are well-positioned for the industry’s tailwinds. QAD Inc. and Absolute Software Corporation should see their stock prices rise over the next months due to efficient operations and solid financials. In contrast , we think their declining financials could cause Workiva Inc . Paycor HCM, Inc., and WK (WK), could experience a short-term downtrend.
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