3 Top Work-From-Home Stocks To Watch This Month
Most of the work-from-home stocks now have had their best year by far on the stock market. As a matter of fact, the very phrase work-from-home was something unfamiliar to most of the general population last year. However, all this changed when the coronavirus hit, and the stock market saw a major crash in March. As the market recovered, top work-from-home stocks led the charge because of the unavoidable new norms in the age of coronavirus. In rising to meet demands, they have become the top performers in the stock market this year.
We only need to look at the likes of Zoom (ZM Stock Report) that started the trading year with a meager price of $67 a share. This number has risen six-fold as distance education and teleconferencing have become a new way of life amidst social distancing mandates. Another example would be Slack (WORK Stock Report) who brings a digital workplace communications platform to the table. Its Slack platform offered many vital internet relay chat (IRC) style features that businesses of all sizes desperately needed as they engaged in digital acceleration. In recent news, work-from-home titan Salesforce (CRM Stock Report) acquired Slack for $27.7 billion. It is clear that both companies and investors are banking on the necessities of this new norm.
The work-from-home industry seems to have big plans for the future even in light of the first coronavirus vaccine rollout by Pfizer (PFE Stock Report). Realistically speaking, it could take years before the global population is vaccinated. Before that time comes, some of the best work-from-home stocks to buy will likely continue to reap the benefits. With all that said, here is a list of top work-from-home stocks for you to consider.
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Best Work-From-Home Stocks To Buy [Or Avoid] Now: Smartsheet Inc
Smartsheet (SMAR Stock Report) has had an interesting year so far. Its share prices are up by 88% since the stock market crash in March. Smartsheet is a leading cloud-based platform that is used mainly by organizations in work settings. The company develops and markets its signature Smartsheet application which facilitates more efficient workflow and creates better business outcomes. It is used by over 75% of the Fortune 500 across an array of multi-million-dollar departments. Impressive portfolio aside, investors will likely be watching Smartsheet in the next few days as it is slated to release its third-quarter fiscal on December 7.
Looking at its previous quarter fiscal released in September, the company seemed to be making the right moves. Notably, it reported a 41% year-over-year rise in total revenue. In part, this success could be attributed to its 43% jump in subscription revenue and a 20% increase in professional services revenue in the same period. In detail, the company saw a 92% year-over-year increase in customers with annual contract values of over $100,000. Judging from the movement of its share prices this week, investors may be hoping that Smartsheet will see more growth.
On December 1, the company announced that San Diego State University (SDSU) and O’Connor Construction Management Inc (OCMI) are using its application for a major project. The multi-million dollar project involves the construction of the largest capital program within the university’s network. OCMI hailed Smartsheet as a ‘control center’ which keeps the project team accountable, on track, and connected while providing a comprehensive overview of the project. Smartsheet CPO Gene Farrell commented “The size and breadth of how SDSU and OCMI are using Smartsheet showcases the power and scale of our dynamic platform.” Do you think SMAR stock will continue to flourish with its current momentum?
Best Work-From-Home Stocks To Buy [Or Avoid] Now: Elastic NV
Next up, we have Elastic (ESTC Stock Report). Elastic is a search engine company that is based in California. It builds self-managed and software-as-a-service (SaaS) products. Basically, its offerings aid in search, logging, security, and analytics use cases. It primarily develops the open source Elastic Stack. The system ensures reliable and secure access to data from any source or format. This data is then analyzed and visualized in real-time. On top of that, the company offers paid subscriptions at varying levels for its more premium functions. Interestingly, Amazon (AMZN Stock Report), Netflix (NFLX Stock Report), and eBay (EBAY Stock Report) are among the notable users of this platform.
Elastic’s share prices have increased by over 200% since its 52-week low in March. Remarkably it hit an all-time high earlier this week after the opening bell on December 3. In its second-quarter fiscal released yesterday, the company reports a 43% rise in revenue year-over-year. This is thanks to its 81% year-over-year jump in SaaS revenue. Additionally, its subscription revenues accounted for 93% of total revenue in the quarter. Evidently, Elastic appears to be making the right moves as users are willing to upgrade to its premium features.
Recently, Amazon announced the addition of a new feature for macOS which integrates its Amazon Elastic Compute Cloud storage. This essentially allows for Apple (AAPL Stock Report) developers to natively run macOS within Amazon Web Services. By extension, this offers the flexibility and scalability that comes with Elastic Stack to more developers. Given all this, is ESTC stock worth adding to your watchlist?
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Best Work-From-Home Stocks To Buy [Or Avoid] Now: Twilio Inc
Last but not least, we have Twilio (TWLO Stock Report). It is a cloud communications platform as a service company that is based in California. The Twilio platform allows software developers to perform communication functions like texting and phone calls via its web service application programming interface (API). In short, it provides a means for companies to engage with customers virtually. This business is invaluable for companies looking for customer experience solutions amidst the coronavirus pandemic.
The company’s share prices are up by a jaw-dropping 345% since the stock market crash in March. The company reported rather positive results in its third-quarter fiscal posted in October. Twilio saw a 51% rise in total revenue year-over-year. That was partly a result of the 21% year-over-year increase in active customer accounts. Correspondingly, it ended the quarter with 240% more cash on hand compared to the same time last year. In a time where digital engagement has become increasingly vital to companies, Twilio appears to be fulfilling that demand.
In recent news, British insurance titan BGL Group announced that it will be using Twilio for its customer engagement needs. Using Twilio’s Flex platform, BGL has built a new, virtual contact center. This will enable BGL agents to work remotely while maintaining customer support services. This adds to a long list of clients using Twilio, including Airbnb and Uber (UBER Stock Report). All things considered, do you think TWLO stock is a work-from-home stock worth buying?