Due to an increase in COVID-19 cases, remote working is likely to persist for some time. The industry must continue to grow rapidly. So, we think it could be wise to add fundamentally strong enterprise software stocks Oracle (ORCL) and Workday (NASDAQ:) to one’s portfolio now. We think Bill.com and Fastly are overvalued, and should be avoided at the current prices. Keep reading. COVID-19 cases have resurgent across several countries, including the contagious COVID-19 omicron variation. A weekly average of 100,000 cases could soon be reached in the United States. Remote working is expected to increase, which will lead to increased demand for enterprise software solutions. The enterprise software market is set to experience impressive growth in the long-term, as more companies are adopting hybrid work structures due to lower administrative costs and higher employee productivity.

Enterprise software has become an integral part of modern work culture due to the increasing use of big data. ReportLinker estimates that global enterprise software sales will reach $79.70 billion in 2026, a 6.4% increase from the current market. These stocks may not be the best investments due to fierce competition.

It might be a smart move to acquire shares of Oracle Corporation (NYSE) and Workday, Inc.(WDAY). However, Bill.com Holdings, Inc., and Fastly, Inc., look highly overvalued at current price levels, so you should avoid them.

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