Salesforce.com Vs. Workday: Which SaaS Stock Is A Better Buy?

Salesforce.com Inc. (CRM - Get Rating) and Workday, Inc. (WDAY - Get Rating) are two of the top players in the software as a service (or SaaS) space. While CRM provides enterprise software through the cloud, with a focus on customer relationship management, WDAY provides enterprise cloud applications for finance and human resources.

The COVID-19 pandemic accelerated the need for digital transformation and led to the rise of a work-from-home culture. This trend is likely to continue even in the post-pandemic environment because of its convenience. Furthermore, with many countries now seeing second and third waves of coronavirus infections, a continuation of the work-from-home trend is almost certain, at least over the near term. Consequently, we expect CRM and WDAY to see increasing demand for their services, which help employees work from home and increase business productivity.

While CRM has returned 53% over the past year, WDAY has gained 102.4%. In terms of their past-nine months’ performance, WDAY is a clear winner with 38.9% returns versus CRM’s 13.7%. But which of these two stocks is a better pick now? Let’s find out.

CRM – Because the work-from-home trend is expected to continue even after the COVID-19 pandemic, and because many countries are witnessing second and third waves of coronavirus infections, we think Salesforce (CRM) and Workday (WDAY) should witness continued steady demand for their services over the coming months. But let’s find out which of these two stocks is a better buy now.

Latest Movements

CRM announced on March 18 that more than 150 international, federal, state and local government agencies, and healthcare organizations, are now using the company’s technology for vaccine management and COVID-19 tracking. Boys & Girls Clubs of America also selected its technology to work more efficiently and better engage with kids and teens across more than 4,700 of its clubs.

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