The best SaaS stocks to buy today? 4 to watch in October 2021


4 best SaaS stocks to watch right now

As investors seek out the most active stocks in the stock market today, the software as a service (SaaS) industry continues to grow. For the most part, this is understandable. Even as the wider tech industry faces headwinds amid fears of rising Treasury yields, the technology remains more relevant than ever. In particular, we will be looking at the ever growing SaaS industry. Among these are technology areas such as cybersecurity, customer relationship management (CRM), cloud communications, and website hosting, to name a few. Given the broad reach of the sector in the business world today, SaaS stocks could be the center of attention.

Meanwhile, even names to come like Paltalk (NASDAQ: PALT) are making moves now. The New York-based communications software company is reportedly looking to expand its investor relations offerings. By retaining its ClearThink Capital subsidiary, Paltalk intends to “develop and deploy a comprehensive investor awareness and communications program”. As a result, PALT stock is now up 170% this week.

Despite the current attention around the SaaS space, some would question the industry’s long-term prospects after the pandemic. Given the sudden increase in demand for SaaS solutions throughout the pandemic, this concern is not unwarranted. Notably, Selling power (NYSE: CRM) CEO Marc Benioff recently said, “we don’t all go back,”While discussing the return to physical offices. According to Benioff, the nearly 75,000 Salesforce employees work primarily from home. Benioff noted that this is thanks to SaaS solutions like Slack among other remote work services. Overall, SaaS stocks appear to be strong. With that said, could any of these SaaS players be the first choice in the stock market? now?

Best SaaS stocks to buy [Or Sell] This month

Adobe Inc.

First on this list we have Adobe, one of the world’s largest and most diverse software companies. In fact, its products and services are used by millions of people around the world and it continues to define the future of digital media and digital experiences. It is a leader in its category with Adobe Creative Cloud and Adobe Experience Cloud. With more than 24,000 employees, the company reported sales of $ 12.9 billion in fiscal 2020. Last week, the company appointed Dan Durn as executive vice president and chief executive officer financial (CFO).

Durn joins Adobe from Applied Materials, where he was CFO since 2017. He has extensive expertise in global strategy, financial planning and operations, and mergers and acquisitions, as well as decades of experience in the technology industry. . Durn was previously Executive Vice President and Chief Financial Officer of NXP Semiconductors NV following its merger with Freescale Semiconductor. In addition, the company posted record revenues for its third quarter financial statements. Plunging, revenue for the quarter was $ 3.94 billion, up 22% year-over-year. Diluted GAAP earnings per share was $ 2.52, up 28% from the previous year. Given this exciting news, will you consider adding ADBE stocks to your portfolio?

Source: TD Ameritrade CGU

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Zoom Video Communications Inc.

Following this, we have Focus on video communications, a SaaS company that provides video telephony and online chat services through its cloud-based peer-to-peer software. Its software is used by people around the world for teleconferencing, telecommuting, distance education, and social relationships. On September 15, 2021, the company unveiled a reseller partner program for its Zoom Phone Bring Your Own Carrier (BYOC) licenses.

In short, Zoom Phone BYOC will provide business customers with the ability to retain their current public switched telephone network (PSTN) service providers by redirecting existing voice circuits to Zoom Phone Cloud. Building on Zoom’s intuitive platform, the Zoom Phone is a complete cloud phone system for businesses of all sizes. The company says it has had immense success selling Zoom Phone, reaching two million seats in just 10 quarters and continues to see opportunities for its resellers with the Zoom Phone BYOC program. All things considered, is now the time to invest in ZM Stock?

Top SaaS actions (ZM action)Source: TD Ameritrade CGU

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Microsoft Corporation

Microsoft is a multinational technology company that sells a range of technology products and services. Essentially, it is best known for its software products like the Microsoft Windows line of operating systems and the Microsoft Office suite, its collection of productivity apps. In addition, the company’s flagship hardware products include its Xbox video game consoles and the Microsoft Surface line of touchscreen personal computers. MSFT stock has risen over 30% in the past year alone.

On September 28, 2021, the company announced that it will be opening its Microsoft Store on Windows to developers using different types of frameworks, packaging technologies, and commerce platforms. Additionally, the new Microsoft Store will launch to the public alongside Windows 11 on October 5. It will also be available for Windows 10 customers in the coming months. As a result, it could increase the company’s revenue as more developers and users flock to its app store. With this information, is MSFT stock worth buying right now?

MSFT share quotation Source: TD Ameritrade CGU

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Shopify Inc.

then, we have Shopify. In short, the Canadian company is currently one of the biggest names in the e-commerce industry. To put it in perspective, its proprietary ecommerce platform is home to over 1.7 million merchants worldwide. Through Shopify’s point of sale systems, merchants have access to a comprehensive suite of tools to optimize their ecommerce operations. Additionally, Shopify’s current network of partnerships also provides merchants with a wide reach in the marketplace. Notable partners include Alphabet (NASDAQ: GOOGL) Google subsidiary, Roku (NASDAQ: ROKU), and Facebook (NASDAQ: FB).

In September, the company announced Shopify Marketplace which helps remove the complexity of international commerce and allows independent merchants to sell to consumers around the world. It is basically a centralized hub with all the tools traders need to manage global trade. Traders will be able to easily penetrate new markets and reach out to more international customers.

Additionally, it will help increase buyer confidence and conversion with personalized experiences for each market. Finally, it will also optimize cross-border operations with actionable insights and smart parameters. This would help merchants identify where, when, and how to sell most effectively in a new region based on aggregated data from Shopify. For these reasons, will you consider the SHOP stock to be one of the best SaaS stocks to buy right now?

best SaaS stocks (Stock SHOP)Source: TD Ameritrade CGU

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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