Which Cloud-Based Software Solutions Stock is a Better Choice? By StockNews
Because the resurgence of COVID-19 cases due to the spread of its Delta variant is causing delays in organizations’ office-reopening plans, cloud-based software companies are expected to continue witnessing high demand for their products and services, at least in the near term. AppFolio (NASDAQ) and Veeva, (NASDAQ) both should be benefited. What stock do you think is the best buy? Let’s find out.Veeva Systems Inc. (NYSE:) and AppFolio, Inc. (APPF) are two budding players in the cloud-based software industry. VEEV in Pleasanton (Calif.) provides cloud-based solutions to the global life sciences sector. This company provides enterprise software, multichannel platforms and customer relations, as well as content management solutions. APPF is a Goleta, Calif. company that provides customized cloud-based services and software for SMBs in both the legal and property management industries.
Increasing adoption of secure cloud-based software solutions across several industries to provide efficient services to their customers and facilitate the continuation of remote working amid the resurgence of COVID-19 cases should drive the cloud-based software industry’s growth. Global cloud computing is predicted to increase at 19.1% to $1.25 Trillion by 2028. Both SNOW as well as VEEV will benefit.
VEEV has risen 12% while APPF prices have declined by 31.2% since the beginning of this year. VEEV is a clear winner with 2.4% price gains versus APPF’s negative returns in terms of their past three months’ performance. What stock do you think is the best? Let’s find out.
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