© Reuters. Workday vs. Veeva Systems: Which cloud stocks are a better buy?
Now that organizations are leveraging cloud platforms to improve scalability, support remote workflows, and strengthen their business operations, cloud computing has become the de facto Internet data storage option. And because global spending on cloud-centric services is growing rapidly, we believe that cloud operators Workday (NASDAQ 🙂 and Veeva Systems (NYSE 🙂 are poised for exponential growth. But let’s find out which of these stocks is a better buy now. Workday, Inc. (WDAY) and Veeva Systems Inc. (VEEV) are cloud-based application providers operating worldwide. While WDAY offers a suite of financial management applications and human capital management applications for technology, financial services, healthcare and life sciences and other industries, VEEV provides software, data and analytics solutions, as well as applications data management for life sciences. industry. A wave of hyperdigitalization across industries has pushed companies to evaluate the necessary changes in their business models and prioritize increasing spending on cloud-based platforms to facilitate more agility, resilience and customer focus. With the widespread and growing adoption of hybrid frameworks, organizations and individuals are becoming more dependent on cloud collaboration platforms like WDAY and VEEV to improve their flexibility. Therefore, we believe that these companies are in a unique position to benefit from and capitalize on an important long-term market opportunity. WDAY has gained 78.8% over the past year, while VEEV has returned 51.1% over the same period. In terms of performance over the past three months, WDAY is the clear winner with 10% gains against VEEV’s negative returns. But which of these stocks is a better choice now? Let’s find out. Continue reading on StockNews