Are These The Best Work-From-Home Stocks To Watch In December? 3 Names To Know
Work-from-home stocks have undoubtedly had a phenomenal year in the stock market. Understandably, working from home has been and continues to be a new way of life across the globe. Amidst the pandemic, almost all offices and workspaces have shifted to the digital medium. According to a survey from Gartner Inc., 800 global HR executives estimated that 88% of organizations in the world have implemented work-from-home measures. All these factors add up to explain the success of top work-from-home stocks in the stock market today.
Nevertheless, investors are likely wondering if the recent performance of work-from-home companies will continue. This uncertainty over the long-term viability of work-from-home stocks is not unwarranted. Evidently, biotech companies Pfizer (PFE Stock Report), Moderna (MRNA Stock Report), and AstraZeneca (AZN Stock Report) have presented promising coronavirus vaccine results. This could mean the end of the pandemic is in sight. On the other hand, many are experiencing the newfound convenience and efficiency of working from home. Many experts believe working from home is a trend with legs. What began as a temporary way to keep employees safe could become a permanent trend, couldn’t it?
To give an example, share prices of stay-at-home stocks like GrubHub (GRUB Stock Report) are up by over 130% since March. Digital signature company DocuSign (DOCU Stock Report) has nearly tripled its stock price this year. With all this in mind, do you have a list of top work-from-home stocks to buy today?
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Top Work-From-Home Stocks To Watch This Week: Zoom Video Communications Inc
It is almost impossible to have a list of work-from-home stocks without Zoom (ZM Stock Report). This communication tech company continues to be a rising star in the stock market in 2020. In essence, the company is known for providing video telephony and online chat services. Through this, it can facilitate calls for teleconferencing, telecommuting, distance education, and social relations. Admittedly, this has put Zoom in the spotlight as it serves as a key means of communication during these times. With gains of 12% last week, what could be the source of its recent rally? Let us take a closer look.
The company expects to release its third-quarter fiscal 2021 after today’s closing bell. Analysts project that Zoom could see another good quarter. They are forecasting a 744% year-over-year growth in earnings per share (EPS), which amounts to $0.76. The company’s guidance regarding revenue is seemingly hopeful with an increase of over 300% year-over-year. Its share prices surged after beating both top and bottom-line estimates in the previous quarter. Could investors hope for a repeat of this performance this week?
Recently, a startup by the name of ONSCREEN Inc announced the Spark, a TV video calling device. It boasts high-quality video calling and comes integrated with Zoom. That could benefit Zoom as this is a much-needed upgrade for many people who use the app on smaller screens. As Zoom is cementing its long-term importance in the post-pandemic world, can ZM stock remain the top work-from-home stock? You be the judge.
Top Work-From-Home Stocks To Watch This Week: Snowflake Inc
Next up, Snowflake (SNOW Stock Report) is another work-from-home stock seeing massive growth since its initial public offering in September. It is a cloud-based data-warehousing company that was founded in 2012. Essentially, the company offers data storage and analytics services or ‘data warehouse-as-a-service’ in short. What that means is that corporate clients can store and analyze data using the company’s cloud-based software. Snowflake runs on industry-leading cloud platforms. These include Amazon (AMZN Stock Report) Web Services, Microsoft (MSFT Stock Report) Azure, and Google (GOOGL Stock Report) Cloud Platform. Snowflake also offers the Data Cloud, which allows users to discover, exchange, and securely share data. With such an impressive portfolio, it is not surprising why investors are putting SNOW stock on their watchlist.
Snowflake share prices went up by a staggering 22% last week. Was there any news behind the massive spike? Not exactly, but the company expects to release its first-quarter earnings on December 2. That would be its first quarterly results since going public. Previously, the company reported a 174% rise in revenue from its fiscal-year-ended (FYE) 2019 to FYE 2020. Expressly, even Warren Buffett’s Berkshire Hathaway (BRK.A Stock Report) invested in SNOW stock before its Initial Public Offering (IPO). Considering all this, eagle-eyed investors definitely have Snowflake in their scopes.
In fact, the company recently announced that it will be upgrading Data Cloud. This upgrade entails the capability of working with more types of data, a better developer experience, and more control over data. Crucially, one key advantage that it has over other cloud companies is the infrastructure to exchange data. Snowflake owes this to its Data Cloud. With this move, the company appears to be bolstering its greatest strength to grow its network. With all that in mind, does SNOW stock deserve a spot on your watchlist?
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Top Work-From-Home Stocks To Watch This Week: Salesforce.com, Inc.
Lastly, we have Salesforce (CRM Stock Report). It is an enterprise software company that is headquartered in California. The company provides customer relationship management (CRM) software services. Additionally, it also offers a wide array of enterprise applications. These are related to customer service, marketing automation, analytics, and application development. The stock has seen a 40% increase in its share price over the last six months.
The company is set to release its third-quarter fiscal on December 1. Investors looking to jump on the Salesforce train are likely looking forward to this. In its previous quarter fiscal, the company reported a 29% rise in revenue year-over-year. This was a result of the company’s growth in subscription and support revenue by cloud across all of its CRM products. With such an impressive performance, it is no surprise that Salesforce has been the top CRM software provider globally for the seventh consecutive year.
Despite all this good news, Salesforce is seeing a decrease in stock price last week. The company is reportedly in advanced talks to make its biggest acquisition to date. Salesforce will be looking to buy the business communication platform Slack (WORK Stock Report). Moving forward, this could be an excellent play by the CRM software titan. Salesforce is likely growing its business to stay ahead of its closest competitors in the industry. Will this make CRM stock a top work-from-home stock in the months to follow?