AYX - 2 SaaS Stock Picks From My Own Portfolio
The COVID-19 pandemic has resulted in the rapid adoption of digital solutions as companies prepare themselves for the possibility of remote work becoming a long-term necessity. Looking at the issue from a broader perspective, these digital solutions for everyday tasks tend to also improve efficiency and productivity for organizations. This means that any additional value such services can provide makes them worth considering, regardless of the current situation.
In this article, I am going to share two software-as-a-service (SaaS) stocks in my portfolio. These companies have outperformed the broad market year to date and can continue to deliver going foward.
Veeva Systems (NYSE: VEEV) provides a cloud-based software solution for the life sciences industry. The business has two main products -- Veeva Commercial Cloud and Veeva Vault -- with each contributing 50% of revenue.